As noted by others, a slang term for buddy.
However, for those interested, I would highlight that this term enjoys special status in the Canadian military, and you should be cautious how you use it if new to the Forces.
While "
Budz" may be used as a greeting, in the
CF it also often carries slightly pejorative connotations, and is generally used in a condescending context. Thus, do not "
budz" anyone unless it's deserved.
Accordingly, you should never "budz up" - ie, use the term towards a superior - but only ever "budz down" (ie, "budz" someone of lower rank).
See below for examples.
As a greeting: (
Warrant Officer to a Private) "How's it goin'
budz?"
As an insult: (Warrant Officer to a Private) "Holy fuck budz, why are you asleep when you should be covering your
arcs?"
As a guaranteed way to get yourself into shit: (Private to Warrant Officer) "How's it going, budz? ... I mean, Warrant?"