Calian Group Ltd. (TSX: CGY) closed fiscal year 2024 ending September 30 and signed several defence contracts during Q4, valued at approximately $29 million, further solidifying its position as a trusted partner in the global defence industry.
These new contracts align with Calian’s mission to equip, prepare and protect military personnel as global military spending continues to surge amid war, geopolitical instability and the heightened need for new and advanced technologies.
Global defence budgets continue to rise and are projected to reach $2.5 trillion by 2028, according to Markets and Markets. Throughout FY2024, Calian continued to win contracts to support key global defence initiatives that enhance military readiness and operational effectiveness. Closing out Q4, Calian was selected to provide Canada and NATO members with operational and training support, defence manufacturing, engineering support and technical expertise.
During 2024, a McKinsey & Company report indicated that, following the invasion of Ukraine, NATO member states have announced plans to spend significantly more on defence in the coming years. It goes on to add that if actual spending stays in line with the latest announcements made by European governments, their analysis estimates that cumulative defense spending could increase by €700 billion to €800 billion between 2022 and 2028 with total European spending reaching as much as €500 billion per year in 2028.
With Calian’s recent acquisition of U.K.’s Mabway, combined with its leadership in providing defence readiness expertise for NATO countries, Calian is uniquely positioned going into FY2025 to support these increasing demands.
“As the world faces continued unrest, Calian is more dedicated than ever to delivering cutting-edge defence solutions to ensure the preparedness and safety of Canadian, NATO and allied personnel,” said Kevin Ford, CEO, Calian. “Our recent contract signings reflect the growing trust our global partners place in Calian to support critical global defence initiatives. As we move into FY2025, we remain focused on helping our allies prepare for the complex challenges that lie ahead, equipping them with the tools and expertise needed to safeguard national and global security.”
With more than 40 years of experience delivering defence solutions to Canada and its global allies, Calian provides a broad portfolio of services, including military training, simulation, healthcare, cybersecurity and complex systems integration. These recent Q4 contract signings reinforce Calian’s commitment to helping military forces remain ready and resilient in today’s fast-changing security environment.