Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Base Year
Historical Year
Forecast Year
The defense market in Australia reached USD 50.0 billion in 2023. The market is expected to grow at a CAGR of 5% between 2024 and 2032, reaching almost USD 77.5 billion by 2032.
Australia Defense Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 50.0 |
Market Size 2032 | USD Billion | 77.5 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 5.0% |
CAGR 2024-2032 - Market by Region | Queensland | 5.5% |
CAGR 2024-2032 - Market by Region | Victoria | 5.4% |
CAGR 2024-2032 - Market by Type | Weapons and Ammunition | 5.7% |
CAGR 2024-2032 - Market by Operation | Autonomous Defense Equipment | 5.6% |
Market Share by Region | Queensland | 20.7% |
Australia is poised to increase defense spending, driven by expanded acquisition programs focused on aircraft, submarines, naval vessels, and missiles. This strategic shift in the Indo-Pacific region is in response to China's military advancements and growing influence. The defense strategy emphasizes deterrence capabilities through new platform acquisitions. Key priorities include safeguarding national security, protecting regional stability, and upholding a rules-based Indo-Pacific order.
The growth of the Australia defense market is robust, with sectors like submarines, naval vessels, missiles, and unmanned aerial vehicles leading the way. The country is building a resilient defense industry, exporting innovative technologies, and supporting a capable Australian Defence Force (ADF). Collaboration with global partners, particularly the U.S., is central to Australia's defense strategy, underpinned by agreements like ANZUS, Five Eyes, and AUKUS.
AUKUS, announced in 2021, emphasizes technology collaboration beyond nuclear-powered submarines to include cyber capabilities, artificial intelligence, and quantum technologies. Australia's defense acquisition policy aims for increased expenditure, nuclear submarine acquisition, skills transfer, and in-country research and development is a crucial trend in Australia defense market. Recent strategic reviews reaffirm long-term defense acquisition plans, underscoring Australia's commitment to strengthening national security and regional stability while aiding the market development.
As per the defense market analysis of Australia, HII’s Mission Technologies division announced on July 2024 that it was granted a five-year contract for the supply of supply chain services to the Department of Defence in Australia. This contract is expected to facilitate the export licensing process and offer more opportunities for Australian suppliers.
As per the Australia defense industry analysis, the defense sector in Australia contributed around USD 10.6 billion to the gross value as of 2022-23, which was an increase of 4.1 compared to the previous term. The defence sector employed around 64,100 people and consisted of around 5,544 businesses as of 2023. The overall expenditure on defense contributed around 0.44% to the economy’s GVA in the fiscal year 2022 to 2023. As per the data reports for 2022, Professional, scientific and technical services contributed around 45.2% to the GVA, whereas the manufacturing sector contributed 15.4 to the GVA.
The government of Australia released a new National Defence Strategy (NDS) in May 2024 which aligns with the Defence Strategic Review. This strategy focuses on deterrence by denial and talks about the resources and the investments which are to be made in the military sector. Moreover, it focuses on investments in maritime, intelligence, logistics, and aerial, which can boost the capabilities of the military sector, further boosting the growth of the Australia defense industry.
As per the data gathered in 2021 from the Australian Defence Force (ADF), Australian Army, Royal Australian Navy and Royal Australian Air Force, 0.4% of the people above 15 were serving in ADF, whereas 2.4% had served before in defense services. This indicated a growing interest in employment in defense forces, supporting the market growth.
Some market players are retrofitting old machines into modern systems so they align with the strategic objectives of the present times. For instance, AML3D Limited announced on July 2024 that it has received an order from Century Engineering, a defense supplier, for the conversion of the existing AML3D robotic welding system to an ARCEMY metal Additive Manufacturing machine. These efforts to deliver high-end and sustainable systems are further boosting the Australia defense industry revenue.
The key players in the Australia defense market include BAE Systems Plc, Boeing Co., Thales SA, Lockheed Martin Corp., RTX Corp., and Northrop Grumman Corporation.
Australia Defense Industry Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Operation
Market Breakup by Platform
Market Breakup by Region
CAGR 2024-2032 - Market by | Region |
Queensland | 5.5% |
Victoria | 5.4% |
Australian Capital Territory | 4.5% |
New South Wales | XX% |
Western Australia | XX% |
Others | XX% |
Key players in the Australia defense industry design, manufacture and offer products and services supported by government investments as well as mergers and acquisitions in the market.
According to the government reports, New South Wales at USD 3,432 million, Victoria at USD 2,249 million, and South Australia at USD 1,684 million contributed the most to defense market share in Australia in 2022-23. On the other hand, New South Wales, South Australia, and Western Australia witnessed the highest gross value-added growth between 2021-22 and 2022-23.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Type |
|
Breakup by Operation |
|
Breakup by Platform |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
Australia Defense Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!
The market is estimated to be valued at USD 50 billion in 2023.
The market is projected to grow at a CAGR of 5% between 2024 and 2032.
The defense market is expected to reach USD 77.5 billion in 2032.
The market is categorised according to its operation, which includes manual, autonomous defense equipment, and others.
The key market players are ASC Pty Ltd., Austal Limited, Australian Missile Corporation, Boeing Aerostructures Australia Pty Ltd., Aerotec Qld Pty Ltd., Stralis Aircraft Pty Ltd., Airspeed Pty Ltd., Thales Australia Limited, and others.
The market is driven by factors that include expanded acquisition programs, increasing technology collaboration, increasing government investments, among others.
The market is categorised according to its platform, which includes land, airbrone, army, navy, and air force.
Lockheed Martin Corporation, headquartered in Bethesda, Maryland, holds the distinction of being the largest defense contractor globally.
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Pricing Plans
Purchase Full Report
Datasheet
Single User License
One User
Five User License
Five Users
Corporate License
Unlimited Users
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124