Building wealth in the stock market isn't an easy task, but it becomes significantly more achievable if you stick to the Foolish investing philosophy. Instead of chasing quick gains all the time, identifying high-quality stocks that can grow steadily in the long run could be the key to lasting success.

Several favourable factors, including declining interest rates and gradually easing inflationary pressures, lifted the TSX benchmark by nearly 18% in 2024. But when it comes to building wealth over the next 20 years, it's important to focus on high-quality stocks with strong fundamentals, proven growth strategies, and the ability to thrive even in changing market conditions.

The good news is that the Canadian stock market has a range of outstanding companies that align with these criteria. Let's explore two such soaring stocks that could help you build large wealth over the next two decades.

CAE stock

After rallying by 27.2% in 2024, CAE (TSX:CAE) stock currently trades at $36.39 per share with a market cap of $11.6 billion. Based in Saint-Laurent, it's a global provider of simulation technologies and training solutions for the aviation, defence, and healthcare sectors. The firm generates revenue through flight simulators, pilot training services, and simulation-based programs.

Over the last few years, CAE's operations have shown remarkable resilience as it continues to post stable financial growth despite macroeconomic pressures. In its most recent quarter, the company delivered 8% YoY (year-over-year) revenue growth to $1.14 billion, supported by robust demand across its civil aviation and defence segments. Notably, CAE's civil aviation business delivered 18 full-flight simulators during the quarter and achieved training solutions contracts valued at $693.3 million, reflecting its growing dominance in the aviation training market.

What truly makes CAE an attractive long-term investment is its strategic expansion efforts. The company recently increased its stake in SIMCOM Aviation Training, strengthening its presence in business aviation training and giving a boost to its recurring revenues. Moreover, with an adjusted order intake of $3 billion and a record $18 billion backlog, CAE is well-poised for sustained growth in the coming decades, especially as the global demand for its services is expected to surge.

AtkinsRéalis stock

AtkinsRéalis Group (TSX:ATRL) could be another top Canadian stock you can consider holding for the next 20 years. After rallying by 214% over the last two years, ATRL stock currently trades at $74.81 per share with a market cap of $13 billion.

This Montréal-based firm mainly focuses on providing engineering, construction, and infrastructure services. It generates revenue through project management and consulting services for sectors like transportation, energy, and industrial projects.

Broadly, AtkinsRéalis's consistent growth trajectory makes it a compelling pick for long-term investors. The company's third-quarter 2024 results highlighted a record-high nuclear backlog of $3.2 billion, driven by strong demand for nuclear services. Moreover, its focus on margin improvement and strategic expansion into high-growth geographies allowed AtkinsRéalis to deliver organic revenue growth of 13.5% and robust adjusted earnings growth of over 63% YoY.

With a sustainable future in mind, AtkinsRéalis could continue to benefit from infrastructure and energy transformations in the long run, making it a really attractive stock to hold over the next 20 years.