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  5. CAE: It is my understanding that the budget move to more fully fund the Canadian military will require a massive spending push. [CAE Inc.]
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Q: It is my understanding that the budget move to more fully fund the Canadian military will require a massive spending push. What companies will benefit most? I expect for US based companies this would barely move the needle since their baseline US business will eclipse our spending? Are there Canadian companies that could sharply benefit? Also non-US companies if there is more appetite to avoid American during the tariff / trade tensions?

Thanks!
Asked by Marilou on November 10, 2025
5i Research Answer:

There are not too many publicly traded Canadian defense names. MDA is one name that stands to benefit. CAE and MAL might be others but maybe less of a direct beneficiary. Finally PNG could potentially but this might be a bit of a reach.  

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