Market Report, "Canada Defence & Security Report Q4 2014", published
Fast Market Research recommends "Canada Defence & Security Report Q4 2014" from Business Monitor International, now available
[USPRwire, Tue Nov 04 2014] Canadian defence spending has been steadily increasing as the country has sought to address concerns over maritime sovereignty and the protection of natural resources. However, cost saving measures are being considered and in some cases implemented so that the long term goals are met. T he reduction in short term defence spending could cause delay s for certain much-needed procurements to bring the country in line with its NATO peers' spending in anticipation of deployments to counter ISIS movements .
Current plans are to upgrade, enhance and to extend the life of their current military technology. The CF-18 jet-fighters will now have upgrades to extend their life. This is due to a firm decision still not being made as to whether Canada will procure the 65 F-35 Lightning-II war planes in line with the Joint Strike Programme. However, with the US currently considering cuts in their defence spending this has caused speculation that the contract for Canada's new fighter will not go to Lockheed-Martin but be placed up for auction. With no decision made, the outcome of what will replace the ageing CF-18's will most likely not be made until after the general election later in 2015.
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The involvement in another overseas conflict has caused Canada to reconsider their defence budget and thus delay the procurement plans yet again in an effort to save costs. In the short term this means that the enhancements of the 'Halifax' class frigates will continue as planned but the replacement of their CF-18 Jet-fighters has been put on hold. The need for weapons is still an issue being discussed within the Canadian government however with pressure from the United States and the United Kingdom to help engage Islamic State (IS) targets this could push forward the procurement of these weapons.
With the RCAF's announced requirements for a new air-to-air missile to replace its existing AIM-9M Sidewinder weapons, these have proceedings are under review due to involvement...
The Canada Defence & Security Report features Business Monitor International (BMI)'s independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.
BMI's Canada Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Canadian defence and security industry.
* Benchmark BMI's independent defence and security industry forecasts on Canada to test other views - a key input for successful budgetary and strategic business planning in the Canadian defence and security market.
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