Canada in Talks to Acquire Saab Spy Planes, PM Carney Says
Canada in Talks to Acquire Saab GlobalEye Surveillance Aircraft
Prime Minister Mark Carney announced that Canadian officials have entered into talks to acquire surveillance aircraft from Sweden's Saab, as the nation rebuilds its military and strengthens security ties with Europe.
GlobalEye to Detect Threats Across the Arctic
Speaking at a defense conference in Ottawa, Carney said the GlobalEye aircraft would help detect and deter threats in the Arctic region. Saab has offered to build, maintain, and upgrade the planes in partnership with Canadian firms.
Canadian Manufacturing and Job Creation
Montreal-based Bombardier supplies the underlying platform for the GlobalEye. Carney noted that about a third of the aircraft would be assembled in Canada, creating approximately 3,000 aerospace-sector jobs, primarily in Quebec.
U.S. Competitors Left Behind
Canada had also considered early-warning aircraft from L3Harris and Boeing before opting for Saab. Both U.S. companies said they would continue discussions with Canadian officials.
NATO Commitments and Defense Spending
The GlobalEye initiative is part of Carney's strategy to increase defense spending toward NATO benchmarks. Canada had previously lagged among NATO members in defense expenditures.
Strengthening Ties with Europe
The Saab talks underscore Carney's goal to bolster security ties with European partners amid growing trade and security tensions with Washington.
Gripen Fighter Jets Also Under Consideration
Saab and Swedish officials are pushing Canada to buy Gripen fighter jets instead of Lockheed Martin's F-35s. Carney ordered a review of the F-35 contract last year, citing geopolitical changes.
Impacted Symbols
Symbols affected by this headline and their sentiment signals
Bombardier Inc. Class A
Bombardier supplies the platform for GlobalEye, so the deal directly boosts revenue and employment.
SAAB AB SER. B
Saab is in talks for a major defense contract with Canada, with additional potential for Gripen fighter jets.
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