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MacKay said Canada's aerospace industry has already begun to benefit from the F-35 purchase. And, he said, the country's fleet of F-18s will be worn out by the time the first F-35s are delivered in 2017.
The minister said killing the deal would result in an " operational gap."
"There is, shall we say, a sweet spot in terms of the delivery time and the investment that allows us to be in that production line, that global supply chain when we start taking delivery," said MacKay.
MacKay stressed the F-35's compatibility with the U.S. air force and navy fleet, and said purchasing the plane makes Canada's military more able to work with the U.S. armed forces.
During their meeting, MacKay and Gates discussed issues related to the security of the Western Hemisphere, such as the situation in Mexico and Central America.
They also pledged to continue to support the work of civilian law enforcement agencies in countering illicit activities such as narcotics, human trafficking, piracy, and cyber threats.
MacKay and Gates also discussed the ongoing mission in Afghanistan, with Gates praising Canada's contribution and offering sympathy and thanks to the families of Canadian soldiers killed there, as well as NATO and global challenges like Iran.