Australia to Invest $14 Billion, A$21 Billion, and $12bn in Missile Manufacturing Amid Indo-Pacific Tensions

Oct 30, 2024, 03:40 AM

Australia has announced a significant investment to enhance its missile and munitions manufacturing capabilities, committing $14 billion over the next decade. The initiative aims to domestically produce long-range strike missiles, with a specific allocation of A$21 billion and $12bn. This move comes in response to escalating tensions in the Indo-Pacific region, particularly due to significant concerns over China's recent intercontinental ballistic missile (ICBM) test in the South Pacific. The Australian government plans to collaborate with defense contractors Lockheed Martin and Thales to boost missile production, stockpiles, and exports to security partners, marking a new 'missile age' in the region.