On February 17, 2026, Canada released its first Defence Industrial Strategy (the Strategy)—a comprehensive blueprint designed to both protect Canada’s security and boost economic growth. The Strategy will prioritize Canadian firms, streamline procurement, and foster investment in Canada’s defence industry. It signals a significant shift in Canada’s approach to capability development, procurement, and industrial participation.

This bulletin outlines the Strategy’s core elements and implications for Canada’s defence industrial base, investors, and other sector participants. In the coming weeks, the Torys Defence team will release additional analysis detailing the Strategy’s impact across multiple sectors, including…