Australia Defence & Security Report 2018
The Australian government plans large increases in defence spending over the next decade, in order to modernise theADF - in particular the navy - amid rising threats linked to East and South China Seas territorial disputes, regional military build-ups,terrorism and cybercrime. Large-scale procurement programmes will be carried out over our forecast period to 2027 - most ofwhich will be covered by foreign defence companies, due to Australia's still-limited military industrial base. That said, we seesignificant potential for expansion of the domestic defence sector in the longer term, as local companies - for which governmentsupport is strengthening - benefit from technology transfer agreements tied to military import contracts.
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