Carney announces $2-billion deal to expand fleet of armoured vehicles

Prime Minister Mark Carney said Canada will spend nearly $2B over four years to expand the Canadian Armed Forces’ light armoured vehicle fleet by 190 units. London-based General Dynamics Land Systems-Canada will build the vehicles, creating a multi-year defense order. The announcement is modestly positive for the defense contractor but unlikely to be market-wide.

Analysis

Prime Minister Mark Carney said Canada will spend nearly $2B over four years to expand the Canadian Armed Forces’ light armoured vehicle fleet by 190 units. London-based General Dynamics Land Systems-Canada will build the vehicles, creating a multi-year defense order. The announcement is modestly positive for the defense contractor but unlikely to be market-wide.