Australia Invests A$21 Billion ($14 Billion) to Boost Missile Production with Lockheed Martin, Thales Amid US-China Rivalry

Oct 29, 2024, 09:56 PM

Australia has announced a significant investment of A$21 billion (approximately $14 billion) over the next decade to enhance its domestic missile and munitions manufacturing capabilities. This move aims to bolster the country's missile stockpiles amid increasing tensions in the Indo-Pacific region, particularly in light of the ongoing US-China rivalry. The investment will involve collaborations with major defense contractors, including Lockheed Martin and Thales, and is part of a broader strategy to ramp up production of long-range strike missiles. Additionally, L3Harris subsidiary Aerojet Rocketdyne has reported a doubling of its rocket motor production to meet surging demand, reflecting a growing focus on defense capabilities in the region.