As world geo-politics seem to enter a new phase of uncertainty, Defence goes top of the agenda with budgets to match. This could fill the order books of many manufacturers.
Manufacturers’ Monthly had news of two large announcements o spending commitments to enhance Australia’s defence capabilities.
A $3.5 billion boost from the Federal Government signals an acceleration in acquiring improved weapon capabilities for the Australian Defence Force.
Minister of Defence, Peter Dutton, said “With Australia’s strategic environment becoming more complex and challenging, our Australian Defence Force must be able to hold potential adversary forces and infrastructure at risk from a greater distance.”
The world class strike weapons system will equip forces to better protect Australia’s maritime approaches.
The move indicates a more urgent approach given the raised global tensions, read more.
The Australian Government is also investing $19 million in nine new Defence Innovation Hubs. The investment will go to Australian businesses and researchers to develop innovative technology that could protect and sustain Australia defence personnel in the field, read more.