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Market Chatter: Canada Negotiating Purchase of Aerial Surveillance System with Swedes Instead of American Competitor

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In front of a packed room of Canadian corporate defence and security leaders, Prime Minister Mark Carney announced that Canada has entered negotiations to procure GlobalEye, an advanced aerial surveillance system developed in Sweden that uses Canadian-made jets, Canada's CTV National News is reporting Wednesday.

The GlobalEye is an airborne warning and control system (AEW&C) created by Swedish defence and security company Saab. The radar system is integrated into Bombardier's Global 6500, transforming the corporate jet into a cutting-edge surveillance aircraft, the report notes.

The federal government is negotiating a deal that would see at least one third of the projected fleet of the GlobalEye aircraft manufactured in Canada over the next 15 years, it adds

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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