Tags Australia defense budget

Tag: Australia defense budget

Defense Reports: The Australian Defense Industry 2011-2016

Australian defense is considered one of the world's growth markets, even in the recent tough years. In 2009, the Australian government launched a new military modernization plan to upgrade its forces in order to counteract the threat posed by rising global terrorism, changing political dynamics in the Asia-Pacific region and the rising number of peacekeeping operations undertaken by Australian forces. With the exception of an anomaly in 2010, defense expenditure as a percentage of Australia’s gross domestic product (GDP) is expected rise consistently through 2016. In the years after, this rate is expected to be reduced again, to cover increased sustainment costs.