Dublin, Nov. 08, 2024 (GLOBE NEWSWIRE) -- The "Australia Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.
In 2024, the Australian government allocated $37.8 billion to its total defense budget, recording a CAGR of 5% during 2020-24. The country's defense budget is expected to grow at a CAGR of 6.9% over the forecast period, to reach $52.4 billion in 2029. The increase in defense spending will be driven by increasing acquisition programs.
The acquisition budget for 2024 is $9.1 billion and expected to reach $14.1 billion by 2029, growing at a CAGR 9.8% over the forecast period of 2025-29. During the historic period (2020-24), Australia spent $178.3 billion in total, whereas over the forecast period (2025-29) it is expected to spend $230.2 billion in total. The acquisition budget is primarily expected to increase due to the procurement of aircraft, submarines, naval vessels and missiles.
Key Highlights
- The redefined strategic priorities in the Indo-Pacific region, the need for new military capabilities, and the focus on deterring potential conflicts are key factors driving Australia's defense expenditure
- Major ongoing procurement program include procurement of SSN-AUKUS, Hunter-class (SEA 5000), C-130J
Scope
- Defense Budget Assessment: This chapter covers the defense budgeting process, market size forecasts, drivers of expenditure, and allocation analysis. It also examines key market trends and insights.
- Military Doctrine and Security Environment: Detailed analysis of military doctrine, strategic alliances, geopolitical dynamics, and the political, social, and economic factors influencing the security environment.
- Market Entry Strategy and Regulations: This section elaborates on essential aspects of procurement policy and market regulations, market entry routes, key defense procurement bodies and major deals.
- Market attractiveness and emerging opportunities: It evaluates the attractiveness of various defense sectors, indicating cumulative market value, and highlights the top sectors and defense segments by value in the country.
- Defense Platforms Import and Export Dynamics: Provides an understanding of the defense platform imports and exports of the country from 2016 to 2023. Both imports and exports of the country are provided in terms of value ($M) and volume (units), categorized by country and sector.
- Defense Platform Acquisitions: It offers an overview of defense platform acquisitions by value. It lists current defense procurement schedules for the major ongoing and planned military platforms that have been formulated in the country and elaborates on the reasons leading to the procurement of the same.
- Fleet Size: Outlines the current fleet sizes of the Army, Air Force, and Navy, detailing the year of acquisition, units in service, and the prime contractor for the equipment.
- Competitive Landscape: Profiles the main defense companies operating in the country, offering insights into their business overviews, latest contracts, and financial results.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the Australia defense market over the next five years
- Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Australia market and identify the opportunities offered.
- Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
- Identify the major threats that are driving the Australia defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channel resources by focusing on the ongoing programs that are being undertaken by the Australia government
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available
Key Topics Covered:
Executive Summary
- Defense Budget Assessment
- Budgeting Process
Defense Market Size Historic And Forecast
- Drivers Of Defense Expenditure
- Analysis of Defense Expenditure Allocation
- Analysis Of Defense Budget Allocation
- Military Doctrine And Security Environment
- Military Doctrine And Strategy
Strategic Alliances and Geopolitics
- Political, Social and Economic Scenario
- Market Entry Strategy And Regulations
- Defense Procurement Bodies
- Trade Associations and Defense Clusters
Procurement Policy and Market Regulations
- Market Entry Routes
- Key Challenges
- Major Deals and M&A
- Market Attractiveness And Emerging Opportunities
- Market Attractiveness By Defense Sector
- Top Sectors in the South Korea Defense Market
- Top Defense Segments By Value
Defense Platforms Import and Export Dynamics
- Defense Platforms Import Dynamics
- Defense Platforms Export Dynamics
- Defense Platform Acquisitions
Defense Platform Acquisitions By Value
- SSN-AUKUS
- General Purpose Frigate
- Virginia-class
- Hunter-class (SEA 5000)
- C-130J
- UH-60M Black Hawk
- K21 (AS21 Redback) - Land 400 Phase 3 IFV
- AH-64E Apache
- Fleet Size
- Army
- Air Force
- Navy
Competitive Landscape
- Defense Companies Operating In Australia
- Main Defense Companies
Companies Featured
- BAE Systems Australia Ltd
- Lockheed Martin Corp
- Sikorsky Aircraft Corp
For more information about this report visit https://www.researchandmarkets.com/r/9tb5bu
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