The Federal Government announced that it would invest $1 billion to commence the early development of advanced guided weapons to modernise the Navy’s platforms to project and maintain sea control.
The investment is part of the Government’s $183 billion Naval Shipbuilding Plan, which will see up to 23 classes of vessels built in Australia, creating thousands of jobs and significant opportunities for Australian industry.
Making the announcement, Defence Minister Linda Reynolds said the project would seek opportunities to broaden Australia’s weapons manufacturing base, reinforcing the Government’s long-term commitment to Australian industry and delivering sovereign industrial capabilities.
She said investments will be made across the current and future submarine and surface combatant fleets, providing the Navy with leading-edge long-range anti-ship missiles, extended range surface-to-air missiles, advanced lightweight torpedoes, and maritime land strike capabilities.
“These new capabilities will provide a strong, credible deterrent that will ensure stability and security in the region,” Minister Reynolds continued.
“The planned acquisitions – when aligned with the ongoing state-of-the-art combat system development and National shipbuilding programs – represent an investment of up to $24 billion, which will build a lethal and highly responsive Navy for decades to come.”