Australia Defence and Security Report 2015
BMI View: We expect Australia's defence budget to continue increasing in absolute terms in the next fiveyears. This will be driven by Australia's defence policy focused on becoming a key player in regional andinternational security, which will require an upgrading of both its navy and air force capacities. Thegovernment is looking to take advantage of the globalisation of the defence market to continue importingdefence materiel whilst, simultaneously, facilitating Australian defence SMEs' access to the market. Thiswill open up development opportunities for both international and national companies operating in thedefence sector.
In its 2009 Defence White Paper, Australia spelled out its Force 2030 strategic defence objective. It aims toredefine the role of the Australian Defence Force (ADF) to one that is not limited to defending the countryfrom potential regional and international threats, but instead also focuses on building Australia's reputationas a key player in regional and international security. This will therefore involve a significant upgrading ofthe Royal Australian Air Force (RAAF) and the Royal Australian Navy (RAN). The latter, in particular, willbe crucial as Australia's current fleet of diesel and electric-powered submarines is reaching the end of its lifecycle and needs to be replaced. These objectives were restated in the 2013 Defence White Paper andAustralia's defence spending forecasts continue to point to the importance of such defence strategy.
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