Key Market Indicators
Canadian defense spending is projected to hit $34.5 billion by 2028, up from $28.2 billion in 2023. This represents an average annual growth rate of 3.2%. Since 1965, Canada's defense expenditure has increased by an average of 4.4% each year. In 2023, Canada ranked 14th in global defense spending, with Australia surpassing it at $28.2 billion. Leading the rankings were China, Russia, and India, occupying the second, third, and fourth positions, respectively.
Latest reports

Defense in Canada - 2024 Q4
The Canadian defense sector in the fourth quarter of 2024 has been characterized by strategic investments, technological advancements, and an evolving competitive landscape...