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Canada Announces Historic Defense Spending Surge, Boosting US Contractors
Canada Announces Historic Defense Spending Surge, Boosting US Contractors
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BTCCSquare news:
Canada has unveiled its largest military budget expansion since World War II, pledging to allocate 5% of GDP to defense by 2035. Prime Minister Mark Carney confirmed the commitment at a NATO summit, signaling a seismic shift in North American security investment.
The spending package includes $62 billion for advanced weaponry, naval infrastructure, and next-generation aircraft. This follows an immediate $9.3 billion injection to meet NATO's 2% GDP benchmark—a MOVE pressured by US allies. Defense giants Lockheed Martin (LMT), RTX Corp (RTX), and Northrop Grumman (NOC) stand to benefit significantly from the procurement wave.
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