2014-01-09 06:25:02 - Canada Defence and Security Report Q1 2014 - a new market research report on companiesandmarkets.com
Since the end of the Cold War, Canada has remained one of the lowest spenders on defence in NATO in contrast to its larger neighbour to the south. The start of the decade saw Canada spend around US$21.2bn annually on defence. This increased to US$23.1bn the following year, before rising to US$22.5bn in 2012 and US$24.8bn in 2013. This upward trend is predicted to continue for the remainder of the forecast period until 2017.
The steady increase in the defence budget is being underpinned by the so-called Canada First Defence Strategy (CFDS). The CFDS is intended to reverse a significant decline in funding levels which had been experiencing by the Canadian armed forces following the end of the Cold War in
the 1990s and into the early part of the 21st century.
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