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Australia intends to significantly increase military spending

Australia intends to significantly increase military spending


INDUSTRY WATCH  |  3 JULY 2020


australia_to_increase_military_spending_over_the_coming_decade_royal_australian_navy.jpgPhoto credit: Royal Australian Navy


On July 1, 2020, the Australian government approved the so-called Defense Strategic Update and the 2020 Force Structure Plan, which provide for Australia spending a total of 575 billion in defense spending over the coming decade. The Strategic Update sets out the challenges in Australia’s strategic environment and its implications for defence planning. It provides a new strategic policy framework to ensure Australia is able – and is understood as willing – to deploy military power to shape the environment, deter actions against their interests and, when required, respond with military force.