Back to news

August 15, 2018 | Local, Aerospace

Flight simulator's CEO says bigger U.S. armed forces budgets are a boon

MONTREAL – The head of flight simulator company CAE Inc. said Tuesday U.S. President Donald Trump's appetite for defence spending is a boon to the Montreal-based company, as newfound access to contracts tied to top-secret missions pave the runway for more revenue.

“On the defence side, budgets continue to be on the rise worldwide, and in the U.S. they are at historical highs,” president and CEO Marc Parent told shareholders at an annual general meeting Tuesday.

On Monday, Trump signed a $716-billion defence spending bill for 2019, an $82-billion increase from 2017 and a dramatic upswing from most Obama-era military budgets.

CAE's acquisition of Virginia-based Alpha-Omega Change Engineering earlier this month opens the hatch to “top-secret missions,” mainly out of the U.S., Parent told reporters.


An agreement between the U.S. government and a CAE subsidiary allows a proxy board made up of two American generals and a military contractor executive to oversee the high-security contracts, he said.

“That opens up an extra $3 billion of potential market for us. So that brings our total addressable market in the world to $17 billion,” Parent said.

As to what the classified missions involve, he said only, “You can speculate all day long.”

Parent defended how CAE potentially stands to benefit amidst heightened military spending south of the border, more combative language from the White House and the creation of a new armed services branch focused on fighting wars in space.

Full Article: https://www.680news.com/2018/08/14/flight-simulators-ceo-says-bigger-u-s-armed-forces-budgets-are-a-boon/

On the same subject

  • Royal Military College staff, students won't know until mid-September if personal info compromised in cyber attack

    September 4, 2020 | Local, C4ISR, Security

    Royal Military College staff, students won't know until mid-September if personal info compromised in cyber attack

    David Pugliese Students and staff at the Royal Military College won't know until mid-September whether their personal information has been compromised, more than two months after a cyber attack forced the shutdown of the organization's computers. An extensive review of information contained on the college's computer-based academic network is underway, according to the Department of National Defence. That network is used for general administration, student communications and research. “Initial indications are the extent of the compromise appears limited primarily to non-classified administrative information and correspondence,” DND spokeswoman Christina Kasper said in an email. “When the review is complete, a general statement based on findings will be shared with all network users regarding the extent of the compromise.” The cyber attack took place July 3. “If, during the course of the assessment, it is determined any personally identifiable information was compromised, individual network users who were found to be at risk will be immediately and directly contacted by the chain of command,” Kasper added. She noted that the office of the Privacy Commissioner was notified about the incident at the college in Kingston, Ont. RMC professors have been told not to access or retrieve their files on college computers, even with a USB stick. Staff and students have also been trying since July 3 to find out if their personal data has been compromised. But an email summary of an Aug. 25 town hall that took place to discuss the computer attack acknowledged very little information is being provided by the college. “Very few specific concerns were addressed in the town hall other than the presentation of the computer network issues that transpired and the way ahead for re-implementation of the RMC network,” the email to staff noted. “Personal data loss was mentioned as a possibility that had been brought up in the media. There is currently an ongoing investigation with the goal to determine define what may have transpired and to inform any that may be affected. No other details were provided.” Global News reported Aug. 18 that what appears to be data from the Royal Military College was leaked on the dark web. Many of the files appear to include student progress reports, acceptance letters, as well as a myriad of financial documents like tax receipts and budgets for various departments, Global News noted. DND has not confirmed whether the information on the dark web came from the college's computers. The college's academic computer system is separate from the operational computers used by DND and the Canadian Forces and corporate networks were not affected by the attack. “All early indications suggest this incident resulted from a mass phishing campaign,” said DND spokeswoman Jessica Lamirande. “This incident has not affected any classified systems or classified research at the Royal Military College.” The RCMP's National Cyber Crimes unit is investigating. Lamirande said the Royal Military College expects its fall academic term to begin as scheduled on Sept. 8. https://ottawacitizen.com/news/national/defence-watch/royal-military-college-staff-students-wont-know-until-mid-september-if-personal-info-compromised-in-cyber-attack/wcm/78796df3-0eb7-42a2-a057-e148b63c65ec/

  • Canada spending $59M on assault rifles, machine guns for Ukraine | CBC News

    April 11, 2023 | Local, Land

    Canada spending $59M on assault rifles, machine guns for Ukraine | CBC News

    Canada plans to ship thousands of assault rifles to Ukraine ? its?latest military contribution to the embattled eastern European country, which is still awaiting?delivery of a badly needed?air defence system Canada promised weeks ago.

  • Defence spending needs to double to meet NATO target by 2032: PBO

    October 30, 2024 | Local, Land

    Defence spending needs to double to meet NATO target by 2032: PBO

    New analysis from the Parliamentary Budget Officer shows Canada’s plan for increasing defence spending to 1.76 per cent by 2030 is based on erroneous economic projections that forecast a four-year recession from the 2025-2026 fiscal year through to 2029-2030. 

All news