Prof Receives Homework Request

In the course of testifying about Canadian defence, I received some homework from the Chair of the Committee:

"We're talking about large purchases, such as ships and aircraft, if we purchase an aircraft other than the F-35 to which we belong to a consortium of nations and we can benefit by building parts for it, with the realization that we have arguably the world's fourth- or fifth-largest aerospace industry, and we have no shipbuilding capability, and we used to have and so we want to build that up. So from the standpoint of building jobs, building the economy, maximum benefits to Canadians in the long term, could you submit in writing the pros and cons of both of those issues that I did, because I don't want to take up much more time"

I am not a fan of defence spending as industrial policy.  Then again, I am against protectionism in general.  So, I am making a crowsourcing request: if you can give me your pro's and/or con's, I can use them as I do my homework.

Thanks!