![]() ![]() The Canadian government has faced pressure from allies to increase its military spending, particularly after Russia’s aggression in Ukraine. This, he said, could reverse the long-term, post-Cold-War pattern of technological innovation flowing from the civil sector to the military. The one piece of advice his organization has for any supplier, he said, is “to look more to the defence sector for growth.” He said military spending is rising not only on procurement, operations and maintenance, but also on research and development. is leading the surge in defence spending, analyst Richard Aboulafia, of AeroDynamic Advisory, told the Montreal industry forum Monday. Air Force to supply as many as six Global 6000 planes for the military branch’s Battlefield Airborne Communications Node (BACN) program, an airborne communications relay system. ![]() The company signed a deal last year with the U.S. military on the border of Russia and Ukraine, Mr. Military missions worldwide make use of Bombardier-built planes, including two modified Challenger 600s currently being flown by the U.S. Bombardier reported revenue of US$6.1-billion last year. The chief executive gave no timeframe for achieving that target. He said defence could become a US$1-billion business for the company, representing 10 per cent or more of its overall revenue. That’s a fraction of the 120 planes it delivered overall last year. Germany alone has announced plans to invest €100-billion ($130.27-billion) to rearm itself, including by buying new fighter jets.īombardier boosts free-cash forecast amid strong demand for business jetsīombardier manufactures three to six specialized aircraft annually, on average, for government clients, Mr. With Russia’s invasion of Ukraine feeding insecurity in Europe, and with tension over Taiwan increasing between the United States and China, defence spending looks poised to increase further. ![]() Military spending has increased for seven straight years globally, in 2021 surpassing US$2-trillion for the first time, according to data from the Stockholm International Peace Research Institute. His comments highlight an opportunity for Bombardier and other Canadian aerospace companies – one that is growing as government defence budgets climb in tandem with increasing geopolitical uncertainty. ![]()
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