Canada’s plan to increase defense spending to $23 billion by 2028, as outlined in GlobalData’s latest report on “Canada Defense Market 2023 -2028,” signals an effort to modernize and fuel an aerospace and defense job market.
The data reveals that industry players are actively recruiting, aligning with Canada’s strategic push to strengthen its military capabilities.
Canada’s defense strategy, aimed at strengthening national interests and global security alliances, has set the stage for an increase in the defense budget. According Report by GlobalDatathe nation’s defense spending is driven by a constant compound annual growth rate (CAGR) of 2.7% from 2024 to 2028.
While the report highlights Canada’s progress in updating its armed forces with the acquisition of F-35A fighter jets and Boeing’s P-8A Poseidon, also highlights the challenges it faces, particularly in naval modernisation. The Canadian Surface Combatant (CSC) program. faces obstacles such as cost overruns and delays, which affect the timely replacement of aging frigates.
Get access to the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain a competitive edge.
Company Profile – free sample
Your download email will arrive shortly
We are confident in the unique quality of our company profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the form below
From GlobalData
Within these defensive efforts, GlobalData’s job analytics database underlines that the labor market in Canada is experiencing remarkable growth, especially in the aerospace and defense sectors. With 911 active jobs, Boeing leads the employment landscape, closely followed RTX Corp and CAE Inc. These companies play a role in Canada’s defense modernization efforts, helping to advance air and naval capabilities.
The GlobalData task data also reveals the most in-demand occupations in this wave, with software and web developers, programmers and testers leading the pack. Aerospace engineers, electrical and electronic engineers and various IT-related roles highlight the dynamic nature of the job market that meets Canada’s defense ambitions.
As the Canadian government tries to balance defense spending and other societal priorities, the parallel growth in the labor market shows the economic impact of these defense initiatives. Hiring trends indicate a thriving industry, with companies actively seeking skilled professionals to contribute to Canada’s evolving defense landscape.
Canada’s defense modernization not only reshapes its military capabilities, but also promotes aerospace and defense job growth, reflecting a symbiotic relationship between national security and economic prosperity.
Our signal coverage is powered by Topic Engine by GlobalData, which tags millions of data items in six alternative datasets — patents, jobs, deals, company filings, social media mentions, and news — across topics, sectors, and companies. These signals enhance our predictive capabilities, helping us identify the most disruptive threats in each of the sectors we cover and the companies best suited for success.
Read the original at Defence247.gr
