According to the report by Expert Market Research (EMR), the Australian defence market size reached a value of USD 49.69 billion in 2023. Aided by the increasing demand for advanced defence technologies and the growing investments in military modernisation, the market is projected to further grow at a CAGR of 5% between 2024 and 2032 to reach a value of USD 78.02 billion by 2032.
The defence sector in Australia is crucial for national security, providing the necessary equipment, technology, and services to ensure the country’s defence capabilities. The Australian government’s commitment to maintaining a robust defence force, along with its strategic investments in defence modernization programs, drives the market. The market encompasses various segments, including land, naval, and air defence systems, as well as cybersecurity and space defence technologies.
The increasing demand for advanced defence technologies is driving the Australia defence market growth. With the growing complexity of modern warfare and the need to counter emerging threats, there has been a significant shift towards advanced and integrated defence systems. This includes the development and acquisition of cutting-edge technologies such as unmanned systems, artificial intelligence (AI), cyber defence, and space capabilities. Additionally, the rising geopolitical tensions in the Asia-Pacific region have further contributed to the increasing focus on strengthening defence capabilities.
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The expanding applications of advanced technologies in various defence segments also play a significant role in propelling the market. In the land defence segment, advancements in armored vehicles, artillery systems, and soldier modernization programs are driving growth. The naval defence segment is witnessing significant investments in submarines, frigates, and maritime surveillance systems. The air defence segment is focusing on next-generation fighter jets, drones, and missile defence systems. Moreover, the integration of cybersecurity measures and space defence initiatives is enhancing overall defence capabilities.
As per the Australia defence market analysis, the growing investments in military modernisation programs have led to an increased focus on developing indigenous defence capabilities. The Australian government’s defence budget allocates substantial funds for the procurement and development of advanced defence systems, promoting local defence manufacturing and reducing dependence on foreign suppliers. This emphasis on self-reliance and technological innovation is boosting the defence market expansion.
The growing demand for advanced defence technologies is a major driver of the market. The need to address complex and evolving security threats has led to significant investments in cutting-edge technologies such as unmanned aerial vehicles (UAVs), AI-powered systems, cyber defence solutions, and space-based surveillance. These technologies enhance the capabilities of the Australian defence forces, enabling them to effectively counter modern threats and maintain a strategic edge, consequently driving up the Australia defence market share.
Supportive government policies and a robust defence budget are significantly impacting the market. The Australian government’s commitment to defence modernisation is reflected in its substantial budget allocations for defence procurement, research and development, and infrastructure development. Initiatives such as the Defence Strategic Update and the Force Structure Plan outline the government’s priorities and provide a roadmap for future investments, ensuring sustained growth in the defence sector.
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Market Segmentation
The market can be divided based on type, operation, platform, and region
Market Breakup by Type
- Defence Equipment Maintenance, Repair and Overhauling Services
- Defence Support and Auxiliary Equipment
- Weapons and Ammunition
- Artillery and Mortar Systems
- Infantry Weapons
- Missile and Missile Defence Systems
- Ammunitions
- Vehicles
- Land-based Vehicles
- Sea-based Vehicles
- Air-based Vehicles
- Communication Systems
- Personnel Training, Simulation, and Protection Equipment
- Others
Market Breakup by Operation
- Manual
- Autonomous Defence Equipment
- Others
Market Breakup by Platform
- Land
- Airbrone
- Army
- Navy
- Air Force
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Australian defence market. Some of the major players explored in the report by expert market research are as follows:
- 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
- Others
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