The import of arms and ammunition, parts, and accessories to Canada has been forecasted to show a decline from 2024 to 2028. The value in 2023 stood at a higher level, marking the beginning of this downward trend. Each year from 2024 to 2028 is projected to show a gradual year-on-year decrease in import value, suggesting a consistent contraction of around 1% annually. Over the five-year period, the Compound Annual Growth Rate (CAGR) is reflective of this downward trend, averaging a reduction of approximately 1% per year.
Future trends to watch for include changes in global political climates, international trade agreements, and shifts in Canada's defense policies, which could either exacerbate or mitigate the current downward trend in arms imports.
