Deputy Prime Minister and Defence Minister Richard Marles today announced $3.4 billion over the next 10 years to be spent on new defence technology.
Marles said the advanced strategic capabilities accelerator (ASKA) would focus on asymmetric technology after the recent strategic defence review found Australia’s defence capabilities were not fit for purpose.
Asymmetric technology refers to defence capabilities that are difficult to respond to.
“One thing we can do is invest in asymmetric technology, and that in many ways, this is the most value for money investment that we can make,” Marles said.
“Translating innovative solutions into operation is one of the six priorities that we announced as being part of the Albanese government’s focus in responding to the defence strategic review and we are enormously proud of making this announcement today.”
Minister for Defence Industry Pat Conroy said that both the armed forces and Australian families would benefit, with a focus on local technology and development.
“It will help solve technology challenges for the Australian Defence Force so that they get new advanced capabilities to give them greater firepower and greater protection. And secondly, it will grow the defence companies of the future and that leads to more well paid secure jobs for Australians in advanced technologies and advanced engineering, in advanced equipment and production methods, that will make Australia safer and put food on the table for more Australian families.”