CAE is screened out under 1 exclusion reason spanning 1 issue category.
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. It is a statement of values.
CAE is a specialized defense contractor whose core business is developing and operating military training and simulation systems. According to the Stockholm International Peace Research Institute (SIPRI), CAE generated approximately $1.46 billion in arms revenue in 2024, representing about 42% of its total revenue. This places the company within the SIPRI Top 100 arms-producing and military services companies globally, ranking 77th in 2022.
The company’s products are purpose-built for military applications. Recent contracts include a $69.9 million award in January 2026 to provide F-16 Block 70 full-mission simulators for the Taiwan Air Force under a U.S. Foreign Military Sales program. CAE also develops and operates training systems for submarine programs, fixed-wing aircraft, and helicopters under contracts with various national defense departments. A 2020 legal motion referenced by Law360 alleged the U.S. Army failed to consider two prior training accidents that occurred while CAE was providing fixed-wing training during a contract evaluation, indicating the operational centrality of its services. The military application of CAE’s simulation technology is material and specialized, exceeding the threshold for incidental dual-use products.
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