The federal government has today released a plan that defines the strategic rationale for a sovereign defence industrial base and aims to maximise support for Australian industry, including SMEs and its critical contribution to national security.
The Defence Industry Development Strategy (DIDS) outlines:
The government also announced increased funding for defence industry grants programmes, taking the taking the total investment to $183.8 million.
The Minister for Defence Industry Pat Conroy said: “Australia’s defence industry supports over 100,000 Australian jobs. It is an essential partner in keeping Australians safe at home, secure in the world and employed in well-paid, high skill jobs.
“This strategy will underpin essential reforms that will ensure that critical capabilities are provided to the men and women of the ADF as soon as possible, while also supporting an industry vital to our national security.”
The DIDS also defined seven Sovereign Defence Industrial Priorities (SDIPs) detailing areas for industry to invest:
Picture: Defence