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Australia intends to significantly increase military spending

Australia intends to significantly increase military spending


INDUSTRY WATCH  |  3 JULY 2020


HMA Ships Canberra, Anzac, Sirius, Parramatta and Melbourne operate together off the Australian East Coast during Exercise OCEAN RAIDERRoyal 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.