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Canadian Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2024

Canadian Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2024

  • December 2019
  • 130 pages
  • ID: 5835012
  • Format: PDF
  • By GlobalData

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Canadian Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2024

Summary
Canadian defense budget is expected to value US$103.7 billion cumulatively over 2020-2024. The Canadian defense expenditure stands at US$17 billion in 2019 with a CAGR of 3.86% during the historic period. An Economic Action Plan (EAP) was formulated in 2015, to develop key industrial capabilities by investing CAD2.5 million per year to undertake research on Canada’s defense industrial base. In addition, the Defence Research and Development Canada (DRDC) agency spent approximately CAD300 million on research and development (R&D) programs.

An increasing number of collaborations between defense companies and research institutes are underway, and the number of these is expected to increase over the forecast period. Over the forecast period, the defense budget is expected to increase at a CAGR of 7.43% from US$17.8 billion in 2020 to US$23.8 billion in 2024.The Canadian Government allocated an average of 31.1% of its defense budget to capital expenditure during historic period, which includes the purchase of new equipment and the modernization of existing inventory.

Homeland security expenditure expected to value US$2.39 billion cumulatively over 2020-2024. The Canadian Homeland security stood at US$559.2 million in 2019 and recorded a CAGR of 15.11% over the historic period and is expected to record a CAGR of -3.79% and increase from US$743 million in 2020 to US$636.7 million in 2024.

Canada’s defense imports are expected to increase due to various modernization plans.Canadian defense imports peaked in 2015, due to the receipt of trainer and transport aircraft as well as radar.

The majority of imports between 2014 and 2018 consisted of aircraft, sensors, armored vehicles, and missiles.The US is the largest supplier of arms to Canada.

The country’s planned procurements of advanced armory are expected to increase imports over the coming years. Canadian defense exports fluctuated, posting a steep increase in 2015, before decreasing significantly in 2016 and 2017, only to recover marginally in 2018.

The report “Canadian Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2024” offers detailed analysis of the Canadian defense industry with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, the report “Canadian Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2024” provides an in-depth analysis of the following -

- The Canadian defense industry market size and drivers: detailed analysis of the Canadian defense industry during 2020-2024, including highlights of the demand drivers and growth stimulators for the industry.It also provides a snapshot of the country’s expenditure and modernization patterns
- Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure.

It also details the key challenges faced by defense market participants within the country
- Porter’s Five Force analysis of the Canadian defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, intensity of rivalry, and barriers to entry
- Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
- Market opportunities: details of the top five defense investment opportunities over the next 10 years
- Competitive landscape and strategic insights: analysis of the competitive landscape of the Canadian defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis

Scope
- The Canadian defense budget, which values US$22.6 billion in 2019, registered a CAGR of 4.90% during 2015-2019. An Economic Action Plan (EAP) was formulated in 2015, to develop key industrial capabilities by investing CAD2.5 million per year to undertake research on Canada’s defense industrial base. In addition, Defence Research and Development Canada (DRDC) spent approximately CAD300 million on research and development (R&D) programs. An increasing number of collaborations between defense companies and research institutes are underway, and the number of these is expected to increase over the forecast period. Over 2020-2024, the defense budget is expected to increase at a CAGR of 7.43% from US$23.7 billion in 2020 to US$31.6 billion in 2024.
- Over the forecast period, Canadian defense expenditure will be directed towards modernizing the military, as outlined in the Canada First Defense Strategy (CFDS). Additionally, a major part of the budget will be utilized to ensure Canadian sovereignty over the Arctic region, which has become vulnerable to foreign intrusions due to speculation surrounding oil reserves in the area. The country also stands with allies to deter threats to global peace and security by deploying troops on combat missions. The mission to combat ISIS was extended by a year, requiring funding of approximately CAD360 million.

Reasons to buy
- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Canadian defense industry market trends for the coming five years
- The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period
- Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector
- A deep qualitative analysis of the Canadian defense industry covering sections including demand drivers, Porter’s Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts

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