Australia's defence industry will have to grow by billions of dollars over the next decade if the government is to reduce the country's reliance on imported military technology and deliver on a series of new acquisitions including an anti-ballistic missile defence shield and hypersonic missiles. As the Morrison government looks to keep up with a regional arms race fuelled by China's militarisation throughout the Indo-Pacific, ...
the local defence industry needs to more than triple its output from about $2.6 billion a year to over $10 billion of the military's acquisition budget.
In an age of increasing strategic uncertainty, the Morrison government has decided it needs greater sovereign capability in case supply chains are cut off and Defence Minister Linda Reynolds last week said the government wanted to increase the share of local industry in the defence buildup...MORE
