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Report Overview

The defense market in Australia reached USD 50.00 Billion in 2024. The market is expected to grow at a CAGR of 5.00% between 2025 and 2034, reaching almost USD 81.44 Billion by 2034.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

  • As per industry reports, Australia's annual defense expenditure ranges from USD 25–30 billion, with a significant portion allocated to defense acquisition and sustainment.

  • As per the Australia defense market dynamics and trends, the country's defense purchasing was reinforced in March 2016 by the Defence White Paper, outlining a USD 145 billion acquisition plan through FY 2025-26. Subsequently, the 2020 Defence Strategic Update introduced a ten-year USD 190 billion acquisition plan concluding in FY 2029-30, further fortifying Australia's defense planning and investment strategy.

Australia Defense Market Trends

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.

 

Australia Defense Market Report Snapshots

Australia Defense Market Size

Australia Defense Market Growth

Australia Defense Market Trends

Australia Defense Companies

Australia Defense Market Regional Analysis

 

*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.*

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Key Questions Answered in the Report

The market is estimated to be valued at USD 50.00 Billion in 2024.

The market is projected to grow at a CAGR of 5.00% between 2025 and 2034.

The defense market is expected to reach USD 81.44 Billion in 2034.

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.

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