CANBERRA, Australia: The rising geopolitical tensions in the Indo-Pacific, Australia has committed over $45 billion to bolster its defence capabilities between 2024 and 2029. This significant investment, as outlined in GlobalData’s “Australia Defence Market 2024-2029” report, underscores Australia’s determination to enhance its military strength, particularly in submarine technology, naval power, and air force capabilities.
Central to Australia’s defence strategy is its involvement in the AUKUS pact, a trilateral security agreement with the United States and the United Kingdom. Under this pact, Australia plans to invest $21.6 billion in developing nuclear-powered submarines, a key component of the SSN-AUKUS project. These submarines are designed to improve Australia’s ability to conduct extended underwater operations, which is crucial in the increasingly contested waters of the Indo-Pacific. Australia’s progress in this area is highlighted by the recent graduation of its first sailors from the US Navy’s Basic Enlisted Submarine School, marking a significant step towards acquiring Virginia-class submarines by 2030.
Beyond submarines, Australia is also focusing on modernizing its naval and air forces. The country has allocated $6 billion to build 11 new general-purpose frigates, replacing the ageing Anzac-class vessels. These frigates will be equipped with advanced technologies for maritime strike, air defence, and escort missions, ensuring the Royal Australian Navy’s continued dominance in the region.
In the air, Australia is investing $6.4 billion in 24 C-130J-30 Super Hercules aircraft, enhancing the Royal Australian Air Force’s airlift capacity for military and humanitarian missions. Additionally, there are discussions about acquiring the US B-21 Raider stealth bomber as a non-nuclear long-range deterrent, which could complement the AUKUS initiative.
These substantial investments reflect Australia’s commitment to securing its interests and maintaining stability in the Indo-Pacific region amidst escalating global tensions.
