The Government of Australia has released the third Sovereign Industrial Capability Priority Implementation Plan, a programme that seeks to develop a defence industrial base in the country.

The new Land Combat and Protected Vehicles and Technology Upgrades Plan will provide small businesses with useful information on critical industrial capabilities and help them in taking better investment decisions.

Australian Minister for Defence Industry Melissa Price said: “The Morrison government is delivering a record A$270bn of defence capability for our men and women in uniform, backing small businesses, and creating thousands of Aussie jobs in our defence industry.

“The release of this plan is a significant step in providing greater clarity, supporting industry to make the most of this unprecedented opportunity.

“My number one priority is giving small business the tools they need to be involved in our defence industry, and grow their businesses to enable them to enter global markets.”

The government had introduced the 2018 Defence Industrial Capability Plan, which aims to build a domestic industrial base that would be internationally competitive and will help in meeting defence capability requirements.

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By GlobalData

Subsequently, the plan unveiled ten initial Sovereign Industrial Capability Priorities. The Department of Defence will develop implementation plans for each priority.

The implementation plans will encompass details about the existing defence industry sector and the actions taken by the government for the development of each priority.

The Australian Government recently announced an investment of $1.67bn over ten years to boost cyber resilience.