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ARTICLE · 11 NOVEMBER 2026

Strategic Considerations For Defence Investments

Torys
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Canada's defence industry is experiencing unprecedented transformation as the federal government commits $82 billion and targets 5% of GDP spending by 2035. This generational shift is creating substantial opportunities for domestic and foreign investors across infrastructure, dual-use technology, critical minerals, and AI, while introducing complex considerations around intellectual property rights, national security reviews, export controls, and government partnership frameworks that companies must navigat

CanadaGovernment, Public Sector
Adam Armstrong
Adam Armstrong
Josh Van Deurzen
Josh Van Deurzen
Tyson Dyck
Tyson Dyck
Edward Fan
Edward Fan
Krista Hill
Krista Hill
Konata Lake
Konata Lake
Kerri Lui
Kerri Lui
Molly Reynolds
Molly Reynolds
Arif Virani
Arif Virani
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Canada’s defence industry is undergoing a generational transformation, creating new opportunities and important considerations for domestic and foreign companies and investors. At Torys’ Strategic Considerations for Defence Investments breakfast last week, the firm’s multidisciplinary defence group explored key considerations when financing an investment, critical aspects of building or acquiring a defence business, and how to successfully partner with government.

What you need to know

  • Canada’s defence buildout is creating significant demand and opportunities for private capital across infrastructure, dual-use technology, critical minerals, AI, and other areas central to the country’s defence and national security capabilities.

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