Future of the Canadian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

Future of the Canadian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

Summary

"Future of the Canadian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023", published by it, provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

This report 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, it provides an in-depth analysis of the following -
- The Canadian defense industry market size and drivers: detailed analysis of the Canadian defense industry during 2019-2023, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the countrys 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
- Porters 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 countrys 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$15.8 billion in 2018, registered a negative CAGR of 1.53% during 2014-2018.
- 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 Canadas 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 2019-2023, the defense budget is expected to increase at a CAGR of 4.72% from US$16.6 billion in 2019 to US$19.9 billion in 2023.
- 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, Porters Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts.

1. Introduction 9
1.1. What is this Report About? 9
1.2. Definitions 9
1.3. Summary Methodology 11
1.4. About GlobalData 12
2. Executive Summary 13
3. Market Attractiveness and Emerging Opportunities 15
3.1. Current Market Scenario 16
3.1.1. Primary Threat Perception 16
3.1.2. Military Doctrine and Strategy 17
3.1.3. Military Fleet Size 18
3.1.4. Procurement Programs 23
3.1.5. Top Procurement Programs by Value (US$ Million) 2018-2023 26
3.1.6. Social, Political and Economic Environment and Support for Defense Projects 27
3.1.7. Political and Strategic Alliances 28
3.2. Defense Market Size Historical and Forecast 29
3.2.1. Canadian defense budget is expected to record a CAGR of 4.72% over the forecast period 29
3.2.2. Military modernization and the fight for sovereignty over the arctic region to form base of defense expenditure 31
3.2.3. Canadian defense expenditure as a percentage of GDP is expected to decline over the forecast period 32
3.3. Analysis of Defense Budget Allocation 34
3.3.1. Share of capital expenditure expected to remain relatively constant over the forecast period 34
3.3.2. Capital expenditure is forecasted to record a CAGR of 3.77% over the forecast period 36
3.3.3. Per capita defense expenditure is projected to increase over the forecast period 38
3.4. Homeland Security Market Size and Forecast 39
3.4.1. Canadian homeland security budget anticipated to record a CAGR of 7.76% over the forecast period 39
3.4.2. Cyber-attacks and terrorism set to drive homeland security expenditure over the forecast period 41
3.4.3. Canada falls under moderate risk of terrorism 42
3.4.4. Canada faces little threat from terrorist organizations 43
3.4.5. Canada has a terrorism index score of 3.0 45
3.5. Benchmarking with Key Global Markets 46
3.5.1. Canadian defense budget expected to remain low compared to the leading spenders 46
3.5.2. The US and China dominates the global defense market 48
3.5.3. Canada allocates a lower share of GDP to defense expenditure than the US 49
3.6. Market Opportunities: Key Trends and Growth Stimulators 50
3.6.1. Top 10 Defense Market Categories by Value (US$ million) - Forecast-Period Projections 50
3.6.2. Corvettes 51
3.6.3. Airborne C4ISR 52
3.6.4. Multi-mission and Maritime Helicopter 53
4. Defense Procurement Market Dynamics 54
4.1. Import Market Dynamics 56
4.1.1. Defense imports are expected to increase over 2019-2023 56
4.1.2. The US emerged as the top arms exporter to Canada 57
4.1.3. Aircraft accounted for the majority of military imports 58
4.2. Export Market Dynamics 59
4.2.1. Defense exports expected to rise over the forecast period 59
4.2.2. Saudi Arabia accounted for the majority of Canadian defense exports 60
4.2.3. Engines are the main exported defense products 61
5. Industry Dynamics 62
5.1. Five Forces Analysis 62
5.1.1. Bargaining Power of Supplier: Medium 64
5.1.2. Bargaining Power of Buyer: High 64
5.1.3. Barrier to Entry: Medium 64
5.1.4. Intensity of Rivalry: Medium to High 64
5.1.5. Threat of Substitution: Low to Medium 65
6. Market Entry Strategy 66
6.1. Market Regulation 66
6.1.1. Offset policy aids Canadas domestic defense industry and balances regional development 66
6.1.2. FDI in the defense sector is reviewed for threats to national security and effects on the economy 67
6.2. Market Entry Route 68
6.2.1. Budgeting Process 68
6.2.2. Acquisition of domestic companies is an effective entry route for foreign defense companies 69
6.2.3. Establishment of subsidiaries is an effective entry route into the Canadian defense market 69
6.2.4. Market entry strategies include joint ventures and licensing agreements 70
6.3. Key Challenges 71
6.3.1. Timeline for execution of offsets increases difficulty for foreign companies 71
6.3.2. ITARs conflicting with Canadian human rights laws challenge Canadian defense companies 71
7. Competitive Landscape and Strategic Insights 72
7.1. Competitive Landscape Overview 72
7.2. Key Public-Sectors Companies 75
7.2.1. CAE - Overview 75
7.2.2. CAE - Major Products and Services 75
7.2.3. CAE - Recent Announcements and Strategic Initiatives 76
7.2.4. CAE - Alliances 77
7.2.5. CAE - Recent Contract Wins 77
7.2.6. CAE - Financial Analysis 81
7.2.7. Pacific Safety Products Inc. - Overview 83
7.2.8. Pacific Safety Products Inc. - Major Products 83
7.2.9. Pacific Safety Products Inc. - Recent Announcements and Strategic Initiatives 84
7.2.10. Pacific Safety Products Inc. - Alliances 85
7.2.11. Pacific Safety Products Inc. - Recent Contract Wins 85
7.2.12. Avcorp - Overview 87
7.2.13. Avcorp - Major Products and Services 87
7.2.14. Avcorp - Recent Announcements and Strategic Initiatives 87
7.2.15. Avcorp - Alliances 88
7.2.16. Avcorp - Recent Contract Wins 88
7.2.17. Avcorp - Financial Analysis 89
7.2.18. Hroux-Devtek Inc. - Overview 91
7.2.19. Hroux-Devtek Inc. - Major Products and Services 91
7.2.20. Hroux-Devtek Inc. - Recent Announcements and Strategic Initiatives 91
7.2.21. Hroux-Devtek Inc. - Alliances 92
7.2.22. Hroux-Devtek Inc. - Recent Contract Wins 92
7.2.23. Magellan Aerospace Corporation - Overview 94
7.2.24. Magellan Aerospace Corporation - Major Products and Services 94
7.2.25. Magellan Aerospace Corporation - Recent Announcements and Strategic Initiatives 94
7.2.26. Magellan Aerospace Corporation - Alliances 95
7.2.27. Magellan Aerospace Corporation - Recent Contract Wins 95
7.2.28. Magellan Aerospace Corporation - Financial Analysis 96
7.3. Key Private-Sector Companies 98
7.3.1. Bell Helicopter Textron Canada Ltd - Overview 98
7.3.2. Bell Helicopter Textron Canada Ltd - Major Products 98
7.3.3. Bell Helicopter Textron Canada Ltd - Recent Announcements and Strategic Initiatives 98
7.3.4. Bell Helicopter Textron Canada Ltd - Alliances 99
7.3.5. Bell Helicopter Textron Canada Ltd - Recent Contract Wins 99
7.3.6. Cascade Aerospace - Overview 100
7.3.7. Cascade Aerospace - Major Products and Services 100
7.3.8. Cascade Aerospace - Recent Announcements and Strategic Initiatives 100
7.3.9. Cascade Aerospace - Alliances 101
7.3.10. Cascade Aerospace - Recent Contract Wins 101
7.3.11. General Dynamics Canada - Overview 102
7.3.12. General Dynamics Canada - Major Products 102
7.3.13. General Dynamics Canada - Recent Announcements and Strategic Initiatives 103
7.3.14. General Dynamics Canada - Alliances 104
7.3.15. General Dynamics Canada - Recent Contract Wins 105
7.3.16. General Dynamics Land Systems, Canada - Overview 107
7.3.17. General Dynamics Land Systems, Canada - Major Products and Services 107
7.3.18. General Dynamics Land Systems, Canada - Recent Announcements and Strategic Initiatives 107
7.3.19. General Dynamics Land Systems, Canada - Alliances 108
7.3.20. General Dynamics Land Systems, Canada - Recent Contract Wins 108
7.3.21. L-3 MAS - Overview 110
7.3.22. L-3 MAS - Major Services 110
7.3.23. L-3 MAS - Recent Announcements and Strategic Initiatives 110
7.3.24. L-3 MAS - Alliances 111
7.3.25. L-3 MAS - Recent Contract Wins 111
7.3.26. Rheinmetall Canada Inc. - Overview 113
7.3.27. Rheinmetall Canada Inc. - Major products 113
7.3.28. Rheinmetall Canada Inc. - Recent Announcements and Strategic Initiatives 114
7.3.29. Rheinmetall Canada Inc. - Alliances 114
7.3.30. Rheinmetall Canada Inc. - Recent Contract Wins 115
7.3.31. Raytheon Canada Ltd - Overview 116
7.3.32. Raytheon Canada Ltd - Major Products and Services 116
7.3.33. Raytheon Canada Ltd - Recent Announcements and Strategic Initiatives 116
7.3.34. Raytheon Canada Ltd - Recent Contract Wins 117
8. Business Environment and Country Risk 118
8.1. Economic Performance 118
8.1.1. Gross Domestic per Capita (US$) 118
8.1.2. Gross Domestic Product, Current US$ Billion 119
8.1.3. Exports of Goods and Services 120
8.1.4. Imports of Goods and Services 121
8.1.5. Gross National Disposable Income 122
8.1.6. Local Currency Unit per US$ 123
8.1.7. Market Capitalization of Listed Companies 124
8.1.8. Market Capitalization of Listed Companies as a Percentage of GDP 125
8.1.9. Government Cash Surplus/Deficit as a Percentage of GDP 126
8.1.10. Goods Imports as a Percentage of GDP 127
8.1.11. Goods Exports as a Percentage of GDP 128
8.1.12. Services Imports as a Percentage of GDP 129
8.1.13. Services Exports as a Percentage of GDP 130
8.1.14. Net Foreign Direct Investment 131
8.1.15. Net FDI as a Percentage of GDP 132
8.1.16. Mining, Manufacturing, Utilities Output 133
9. Appendix 134
9.1. About GlobalData 134
9.2. Disclaimer 134

List Of Tables


Table 1: Canada Ground Forces Strength 18
Table 2:Canadian Navy Strength 20
Table 3: Canada Air Force Strength 22
Table 4: Canada - Ongoing Development and Procurement Programs 23
Table 5: Canada- Future Procurement Programs 25
Table 6: Canada - Top 10 Defense Procurement Programs by Value (US$ Million), 2018-2023 26
Table 7: Canadian Defense Expenditure (CAD Billion & US$ Billion), 2014-2023 29
Table 8: Canadian GDP Growth and Defense Expenditure as a Percentage of GDP, 2014-2023 32
Table 9: Canadian Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 34
Table 10: Canadian Defense Capital Expenditure (CAD Million & US$ Million), 2014-2023 36
Table 11: Canadian Per Capita Defense Expenditure (US$), 2014-2023 38
Table 12: Canadian Defense Expenditure for Homeland Security (CAD Billion & US$ Billion), 2014-2023 39
Table 13: Terrorism Index, 2018 43
Table 14: Benchmarking with Key Markets - 2014-2018 vs 2019-2023 46
Table 15: Canada - 10 Leading Defense Market Categories by Value (US$ Million), 2018-2023 50
Table 16: Offset Regulations in Canada 66
Table 17: Canada Budget Formation Timetable 68
Table 18: Canada - Top Defense Suppliers by Value (US$ Million),2018-2023 72
Table 19: Competitive Landscape of the Canadian Defense Industry 73
Table 20: CAE - Major Products and Services 75
Table 21: CAE - Alliances 77
Table 22: CAE - Recent Contract Wins 77
Table 23: Pacific Safety Products Inc. - Major Products 83
Table 24: Pacific Safety Products Inc. - Alliances 85
Table 25: Pacific Safety Products Inc. - Recent Contract Wins 85
Table 26: Avcorp - Major Products and Services 87
Table 27: Avcorp - Alliances 88
Table 28: Avcorp - Recent Contract Wins 88
Table 29: Hroux-Devtek Inc. - Major Products and Services 91
Table 30: Hroux-Devtek Inc. - Alliances 92
Table 31: Hroux-Devtek Inc. - Recent Contract Wins 92
Table 32: Magellan Aerospace Corporation - Major Products and Services 94
Table 33: Magellan Aerospace Corporation - Alliances 95
Table 34: Magellan Aerospace Corporation - Recent Contract Wins 95
Table 35: Bell Helicopter Textron Canada Ltd - Major Products 98
Table 36: Bell Helicopter Textron Canada Ltd - Alliances 99
Table 37: Bell Helicopter Textron Canada Ltd - Recent Contract Wins 99
Table 38: Cascade Aerospace - Major Products and Services 100
Table 39: Cascade Aerospace - Alliances 101
Table 40: Cascade Aerospace - Recent Contract Wins 101
Table 41: General Dynamics Canada - Major Products 102
Table 42: General Dynamics Canada - Alliances 104
Table 43: General Dynamics Canada - Recent Contract Wins 105
Table 44: General Dynamics Land Systems, Canada - Major Products and Services 107
Table 45: General Dynamics Land Systems, Canada - Alliances 108
Table 46: General Dynamics Land Systems, Canada - Recent Contract Wins 108
Table 47: L-3 MAS - Major Services 110
Table 48: L-3 MAS - Alliances 111
Table 49: L-3 MAS - Recent Contract Wins 111
Table 50: Rheinmetall Canada Inc. - Major Products 113
Table 51: Rheinmetall Canada Inc. - Alliances 114
Table 52: Rheinmetall Canada Inc. - Recent Contract Wins 115
Table 53: Raytheon Canada Ltd - Major Products and Services 116
Table 54: Raytheon Canada Ltd - Recent Contract Wins 117

List Of Figures


Figure 1: Canadian Defense Expenditure (CAD Billion),2014-2023 30
Figure 2: Canadian Defense Expenditure (US$ Billion),2014-2023 30
Figure 3: Canadian GDP Growth and Defense Expenditure as a Percentage of GDP, 2014-2023 33
Figure 4:Canadian Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 35
Figure 5: Canadian Defense Capital Expenditure (CAD Billion), 2014-2023 37
Figure 6: Canadian Defense Capital Expenditure (US$ Billion), 2014-2023 37
Figure 7: Canadian Per Capita Defense Expenditure (US$), 2014-2023 38
Figure 8: Canadian Homeland Security Budget (CAD Million), 2014-2023 40
Figure 9: Canadian Homeland Security Budget (US$ Million),2014-2023 40
Figure 10: Terrorism Heat Map, 2018 42
Figure 11: Terrorism Index, 2018 45
Figure 12: Benchmarking with the Worlds Largest and Top Regional Defense Spenders (US$ Billion), 2014-2018 vs 2019-2023 47
Figure 13: Defense Expenditure of the Worlds Largest Military Spenders (US$ Billion), 2018 and 2023 48
Figure 14: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2018 49
Figure 15: Corvettes Market Size (US$ Million), 2018-2023 51
Figure 16: Airborne C4ISR Market Size (US$ Million), 2018-2023 52
Figure 17: Multi-mission and Maritime Helicopter Market Size (US$ Million), 2018-2023 53
Figure 18: Canada - Defense Procurements in Terms of Supplier Relationships, 2018 55
Figure 19: Canadian Defense Import Trend (US$ Million), 2013-2017 (TIV Values) 56
Figure 20: Canadian Defense Imports by Country (%), 2013-2017 57
Figure 21: Canadian Defense Imports by Category (%),2013-2017 58
Figure 22: Canadian Defense Export Trend (US$ Million), 2013-2017 (TIV Values) 59
Figure 23: Canadian Defense Exports by Country (%), 2013-2017 60
Figure 24: Canadian Defense Exports by Category (%), 2013-2017 61
Figure 25: Industry Dynamics - Porters Five Forces Analysis 63
Figure 26: CAE - Revenue Trend Analysis (CAD Billion), 2014-2018 81
Figure 27: CAE - Operating Profit Trend Analysis (CAD Million), 2014-2018 82
Figure 28: CAE - Net Profit Trend Analysis (CAD Million), 2014-2018 82
Figure 29: Avcorp - Revenue Trend Analysis (CAD Million), 2013-2017 89
Figure 30: Avcorp - Operating Profit Trend Analysis (CAD Million), 2013-2017 90
Figure 31: Avcorp - Net Profit Trend Analysis (CAD Million), 2013-2017 90
Figure 32: Magellan Aerospace Corporation - Revenue Trend Analysis (CAD Million), 2013-2017 96
Figure 33: Magellan Aerospace Corporation - Operating Profit Trend Analysis (CAD Million), 2013-2017 97
Figure 34: Magellan Aerospace Corporation - Net Profit Trend Analysis (CAD Million), 2013-2017 97
Figure 35: Canadian GDP per Capita (US$), 2015-2025 118
Figure 36: Canadian Gross Domestic Product (Current US$ Billion), 2014-2024 119
Figure 37: Canadian Exports of Goods and Services (LCU Billion), 2005-2014 120
Figure 38: Canadian Imports of Goods and Services (LCU Billion), 2005-2014 121
Figure 39: Canadian Gross National Disposable Income (US$ Billion), 2005-2014 122
Figure 40: Canadian LCU per US$, 2015-2024 123
Figure 41: Canadian Market Capitalization of Listed Companies (US$ Billion), 2005-2012 124
Figure 42: Canadian Market Capitalization of Listed Companies as a Percentage of GDP, 2005-2012 125
Figure 43: Canadian Government Cash Surplus/Deficit as a Percentage of GDP,2005-2012 126
Figure 44: Canadian Goods Imports as a Percentage of GDP, 2005-2014 127
Figure 45: Canadian Goods Exports as a Percentage of GDP, 2005-2014 128
Figure 46: Canadian Services Imports as a Percentage of GDP, 2005-2014 129
Figure 47: Canadian Services Exports as a Percentage of GDP, 2005-2014 130
Figure 48: Canadian Net Foreign Direct Investment (Current US$ Billion), 2005-2014 131
Figure 49: Canadian Net FDI as a Percentage of GDP, 2005-2014 132
Figure 50: Canadian Mining, Manufacturing, Utilities Output(US$ Billion), 2005-2014 133

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