Prime Minister Mark Carney has committed to replacing Canada’s aging Victoria-class submarines with up to 12 new conventional-powered boats. Procurement has begun, with input from international builders and Canadian industry. Estimated at $100 billion, the project promises advanced capabilities, Arctic operations, and industry benefits—while raising concerns about training enough submariners.

Seaspan Shipyards completed the Functional Design Review for the Canadian Coast Guard’s Multi-Purpose Icebreakers, advancing to production drawings. Up to 16 Polar Class 4 ships will support icebreaking, SAR, and navigation aid missions. Seaspan also partnered with Bollinger, Rauma Marine, and Aker Arctic to pursue U.S. Arctic Security Cutter opportunities.

To fund a historic increase in defence spending, Prime Minister Carney’s government is demanding federal departments find up to 15% in savings by 2028. However, National Defence faces only a 2% cut, exempting equipment and key budgets. Canada aims to hit NATO’s 5% GDP target by 2035, amid union concerns.