Latest news with #militarybudget
Yahoo
2 days ago
- Business
- Yahoo
Canada Defense Industry Report 2025: Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast to 2030
The comprehensive 2025-2030 Canada Defense Market report provides a detailed forecast of market size and growth, analyzing budget trends, regulations, and key acquisitions. With a projected defense budget rise to $41.6 billion by 2030, driven by security threats and modernization needs, the report offers crucial insights into market dynamics, defense platform acquisitions, and competitive landscape, highlighting Canada's collaborative ties with the U.S. Key focal points include F-35 procurement and naval development, vital for understanding investment opportunities and market demands. Dublin, June 09, 2025 (GLOBE NEWSWIRE) -- The "Canada Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2025-2030" report has been added to report report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast defense budget is projected to grow steadily by $8.7 billion from 2026 to 2030, reflecting a compound annual growth rate (CAGR) of 6%. This growth is more stable compared to the previous period (2021-2025), which saw a $13.2 billion increase at a higher CAGR of 13.9%. Key factors driving this spending include concerns over Russia's resurgence, modernization of armed forces, and support for global operations. The defense budget rose from $19.2 billion in 2021 to $32.4 billion in 2025, with the acquisition budget increasing from $3 billion to $11.9 billion during the same period, showing a CAGR of 41.1%. Looking ahead, the defense budget is expected to stabilize at $41.6 billion by 2030, while acquisition spending is anticipated to reach $17.7 billion. Major projects include procuring F-35A fighters, building new frigates, and developing patrol vessels, often in collaboration with foreign firms, highlighting Canada's strong industrial ties with the U.S. and preference for cooperative Highlights Drivers to defense expenditure include security threats, defense modernization, terrorism, reinforcing western influence in artic and international operations Major ongoing procurement program include procurement of F-35, River-class destroyer, Coast Guard Multipurpose Vessels Scope This report offers a detailed analysis of Canada's defense market, with market size forecasts covering the next five years. It also offers insights into the strategy, security environment and defense market dynamics of the country. Various sections covered in the report are as follows: Defense Budget Assessment: This chapter covers the defense budgeting process, market size forecasts, drivers of expenditure, and allocation analysis. It also examines key market trends and insights. Military Doctrine and Security Environment: Detailed analysis of military doctrine, strategic alliances, geopolitical dynamics, and the political, social, and economic factors influencing the security environment. Market Entry Strategy and Regulations: This section elaborates on essential aspects of procurement policy and market regulations, market entry routes, key defense procurement bodies and major deals. Market attractiveness and emerging opportunities: It evaluates the attractiveness of various defense sectors, indicating cumulative market value, and highlights the top sectors and defense segments by value in the country. Defense Platform Acquisitions: It offers an overview of defense platform acquisitions by value. It lists current defense procurement schedules for the major ongoing and planned military platforms that have been formulated in the country and elaborates on the reasons leading to the procurement of the same. Fleet Size: Outlines the current fleet sizes of the Army, Air Force, and Navy, detailing the year of acquisition, units in service, and the prime contractor for the equipment. Competitive Landscape: Profiles the main defense companies operating in the country, offering insights into their business overviews, latest contracts, and financial results. Reasons to Buy Determine prospective investment areas based on a detailed trend analysis of the Canada defense market over the next five years Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Canada market and identify the opportunities offered. Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others Identify the major threats that are driving the Canada defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion Channel resources by focusing on the ongoing programs that are being undertaken by the Canada government Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available Key Topics Covered: Executive Summary Defense Budget Assessment Budgeting Process Defense Market Size Historic And Forecast Drivers Of Defense Expenditure Analysis of Defense Expenditure Allocation Analysis Of Defense Budget Allocation Key Market Trends and Insights Military Doctrine And Security Environment Military Doctrine And Strategy Strategic Alliances and Geopolitics Political, Social and Economic Scenario Market Entry Strategy And Regulations Defense Procurement Bodies Funding Opportunities Trade Associations and Defense Clusters Types of Contracts and Opportunities Types of Canadian Procurement Procedure Procurement Policy and Market Regulations Market Entry Routes Key Challenges Major Deals and M&A Market Attractiveness And Emerging Opportunities Market Attractiveness By Defense Sector Top Sectors in the Canada Defense Market Top Defense Segments By Value Defense Platforms Import and Export Dynamics Defense Platforms Import Dynamics Defense Platforms Export Dynamics Defense Platform Acquisitions Defense Platform Acquisitions By Value F-35 (Future Fighter Capability Project) River-class destroyer (Canadian Surface Combatant) Coast Guard Multipurpose Vessels P-8A Poseidon Polar Icebreaker Fleet Size Army Air Force Navy Competitive Landscape Defense Companies Operating In Canada Appendix About This Report About Us Contact the Publisher For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Yahoo
2 days ago
- Politics
- Yahoo
Hegseth returns to Capitol Hill to defend Trump's defense budget plan
Defense Secretary Pete Hegseth will appear before Congress this week for the first time since his tumultuous confirmation to discuss the fiscal 2026 military budget, even though the full White House request for his department has yet to be released. Hegseth is scheduled to appear before both the House and Senate Appropriations Committees on Tuesday and before the House Armed Services Committee on Thursday. All three hearings are intended to be focused on funding issues for the next fiscal year. But questions from lawmakers are unlikely to stay only on that topic. Democratic lawmakers have already discussed plans to grill Hegseth on his use of non-secure messaging platforms ahead of overseas airstrikes, policy decisions ending outreach programs to women and minority recruits and the high-profile dismissals of multiple defense officials in recent months. The defense secretary will be accompanied by Joint Chiefs Chairman Gen. Dan Caine in his first post-confirmation testimony, as well. Caine replaced Gen. CQ Brown after the latter was fired by President Donald Trump in February for unspecified reasons. Last week, Senate leaders said they didn't expect specifics on the president's defense budget plan for several more weeks. But lawmakers said they need to press forward on the issue now to have any hope of reaching a funding deal by October, the start of the new fiscal year. Senate Armed Services — 9:30 a.m. — G-50 Dirksen Navy/Marine Corps Budget Navy Secretary John Phelan, Acting Chief of Naval Operations Adm. James Kilby and Marine Corps Commandant Gen. Eric Smith will testify on the fiscal 2026 budget request. House Armed Services — 10 a.m. — 2118 Rayburn Middle East/Africa Posture Gen. Michael Kurilla, head of U.S. Central Command, and Gen. Michael Langley, head of U.S. Africa Command, will testify on current challenges and the fiscal 2026 budget request. House Appropriations — 10 a.m. — H-140 Capitol FY2026 Defense Budget Defense Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine will testify on the fiscal 2026 budget request. Senate Foreign Relations — 10 a.m. — 419 Dirksen Pending Nominations The committee will consider several pending nominations. Senate Appropriations — 2 p.m. — 192 Dirksen FY2026 Defense Budget Defense Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine will testify on the fiscal 2026 budget request. House Appropriations — 3 p.m. — 2359 Rayburn FY2026 VA/Military Construction Budget The full committee will mark up its draft of the VA appropriations bill for fiscal 2026. House Armed Services — 10 a.m. — 2118 Rayburn Navy/Marine Corps Budget Navy Secretary John Phelan, Acting Chief of Naval Operations Adm. James Kilby and Marine Corps Commandant Gen. Eric Smith will testify on the fiscal 2026 budget request. House Veterans' Affairs — 11 a.m. — 360 Cannon Pending Legislation The subcommittee on economic opportunity will consider several pending bills. House Armed Services — 3:30 p.m. — 2118 Rayburn Army Munition Industrial Base Department officials will testify on challenges and strategy with the Army munitions industrial base. Senate Armed Services — 9:30 a.m. — G-50 Dirksen Central Command Gen. Michael Kurilla, head of U.S. Central Command, will testify on current challenges and the fiscal 2026 budget request. House Armed Services — 10 a.m. — 2118 Rayburn FY2026 Defense Budget Defense Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine will testify on the fiscal 2026 budget request. Senate Foreign Relations — 10 a.m. — 419 Dirksen Pending Nominations The committee will consider several pending nominations. Senate Appropriations — 10:30 a.m. — 192 Dirksen Army Budget Army Secretary Daniel Driscoll and Army Chief of Staff Gen. Randy George will testify on the fiscal 2026 budget request.
Russia Today
4 days ago
- Business
- Russia Today
Ukraine has gone over budget for its military
Ukraine does not have enough money to fund its military and will have to overhaul this year's budget in order to close the gap, Finance Minister Sergey Marchenko has admitted. The shortfall stems from changes in the amount of Western aid and the evolving situation on the battlefield, he added. Addressing legislators on Thursday, Marchenko said, as cited by Ukrainian lawmaker Yaroslav Zhelezniak, that the 'funding for the Armed Forces is currently not sufficient due to many factors, so we will proceed with a budget revision in the near future.' Marchenko said the reasons included changes in military technology, adjustments in arms deliveries from Kiev's suppliers, and heightened battlefield activity. He also acknowledged that the government had failed to anticipate the conditions Ukraine would face in 2025 when it was drafting the budget late last year. 'You cannot forecast this situation linearly. Sometimes the situation requires rather complex, asymmetric decisions,' the minister explained. In mid-May, Zhelezniak estimated the military budget shortfall at 200 billion hryvnia ($4.8 billion), but later raised his assessment to between 400 and 500 billion hryvnia ($9.6-12 billion). In April, Ukrainian outlet Ekonomicheskaya Pravda reported that funds originally allocated for military salaries in the final months of 2025 had already been spent to purchase drones, ammunition, and other weapons. Ukraine already had to contend with a budget deficit in 2023 and 2024, but managed to bridge the gap by raising taxes. According to Zhelezniak, however, this time such measures won't be required as the government intends to cover the gap through increased domestic borrowing and higher-than-expected tax revenues. Kiev continues to rely heavily on Western aid and loans – which officials say Ukraine won't be able to repay in the next 30 years – to compensate for the economic slump caused by the conflict. As of February 2025, European nations have provided Ukraine with $138 billion of assistance of various types, while the US has given $115 billion. In 2023, Russian President Vladimir Putin said that Ukraine would not be able not survive for more than 'a week' if its Western military and financial aid dried up.
Russia Today
5 days ago
- Business
- Russia Today
Ukraine lacks money for military
Ukraine does not have enough money to fund its military and will have to overhaul this year's budget in order to close the gap, Finance Minister Sergey Marchenko has admitted. The shortfall stems from changes in the amount of Western aid and the evolving situation on the battlefield, he added. Addressing legislators on Thursday, Marchenko said, as cited by Ukrainian lawmaker Yaroslav Zhelezniak, that the 'funding for the Armed Forces is currently not sufficient due to many factors, so we will proceed with a budget revision in the near future.' Marchenko said the reasons included changes in military technology, adjustments in arms deliveries from Kiev's suppliers, and heightened battlefield activity. He also acknowledged that the government had failed to anticipate the conditions Ukraine would face in 2025 when it was drafting the budget late last year. 'You cannot forecast this situation linearly. Sometimes the situation requires rather complex, asymmetric decisions,' the minister explained. In mid-May, Zhelezniak estimated the military budget shortfall at 200 billion hryvnia ($4.8 billion), but later raised his assessment to between 400 and 500 billion hryvnia ($9.6-12 billion). In April, Ukrainian outlet Ekonomicheskaya Pravda reported that funds originally allocated for military salaries in the final months of 2025 had already been spent to purchase drones, ammunition, and other weapons. Ukraine already had to contend with a budget deficit in 2023 and 2024, but managed to bridge the gap by raising taxes. According to Zhelezniak, however, this time such measures won't be required as the government intends to cover the gap through increased domestic borrowing and higher-than-expected tax revenues. Kiev continues to rely heavily on Western aid and loans – which officials say Ukraine won't be able to repay in the next 30 years – to compensate for the economic slump caused by the conflict. As of February 2025, European nations have provided Ukraine with $138 billion of assistance of various types, while the US has given $115 billion. In 2023, Russian President Vladimir Putin said that Ukraine would not be able not survive for more than 'a week' if its Western military and financial aid dried up.
Yahoo
24-05-2025
- Politics
- Yahoo
‘This is the Golden Age': Trump delivers commencement speech to West Point graduates
President Trump delivered the commencement speech for the U.S. Military Academy at West Point on Saturday morning, declaring at one point that the 2025 class consists of the 'first West Point graduates of the Golden Age of America.' 'This is the Golden Age. I tell you, promise, we're in a new age,' Trump told the graduates in New York, vowing that they are 'going to lead the Army to summits of greatness.' The speech, which lasted just under an hour, offered a mix of shoutouts to individual cadets for their personal achievements and words of advice while at times delving into culture war issues — including transgender athletes playing in women's sports. Trump's remarks also served as somewhat of a victory lap for his administration, particularly its proposed defense initiatives. Trump took the opportunity during his speech to tout his Golden Dome missile defense system, which he's previously said would 'be capable of intercepting missiles even if they are launched from other sides of the world, and even if they are launched from space' before the end of his second term. The president also touted what he's described as a '$1 trillion military budget,' referring to the president's proposed 13 percent increase in defense spending, though the White House has noted that part of that money would come from Republicans' reconciliation package. A Senate GOP aide previously told The Hill that the White House has technically only proposed $893 billion for its discretionary defense spending for 2026, meaning the rest would be made up through reconciliation. Trump used his Saturday speech to paint an optimistic picture about his term ahead, at one point remarking ,'we have the hottest country in the world' while also arguing that his administration was taking steps to course correct within the military. Trump only once explicitly mentioned the Biden administration in his speech. 'The job of the U.S. Armed Forces is not to host drag shows, to transform foreign cultures, but to spread democracy to everybody around the world at the point of a gun. The military's job is to dominate any foe and annihilate any threat to America, anywhere, anytime and any place,' Trump said. 'A big part of that job is to be respected again,' he added. 'And you are, as of right now, respected more than any army anywhere in the world.' Since Trump returned to the White House, the administration has cracked down on the Defense Department's diversity, equity and inclusion programs and hiring practices, including at military academies. Trump imparted some words of advice to graduates on Saturday, too, urging the cadets 'to do what you love' and advising them to 'always think big.' 'You have to have the courage to take risks and to do things differently,' he said. Trump's remarks at West Point are the second commencement speech he's delivered this month, though this is his first military graduation speech of his second term. The president also delivered a speech at the University of Alabama earlier this month. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
