Australia spends more than $7 billion to upgrade its navy

Australia announced plans on February 20 to increase defense spending by 11.1 billion AUD (7.25 billion USD) over the next 10 years, aiming to accelerate the delivery of the navy's future surface combatant fleet and expand the country's shipbuilding industry.

Australian Navy frigate FFH157 in Sydney Harbour. Source: RYAN FLETCHER/SHUTTERSTOCK

Defence Minister Richard Marles said the additional funding for the Navy’s surface fleet would bring total investment in procurement and maintenance to A$54.2 billion over the next 10 years. This would increase Australia’s defence spending to the equivalent of 2.4% of its gross domestic product (GDP), above the 2% target set by its North Atlantic Treaty Organization (NATO) allies.

Mr R. Marles stressed that the Australian Navy needs to enhance its ability to ensure the safety and security of sea lines of communication and trade because these lines are the foundation for the lives of our people and the prosperity of our country. A modernized surface combatant fleet will ensure the Navy is optimized for operations in the current and future environment.

Under the plan, Australia will have a navy of 26 major surface combatants, up from 11 at present and the country’s largest fleet since the end of World War II. The new ships will include Hunter-class destroyers, multi-role destroyers and autonomous surface combatants. Some will be equipped with long-range Tomahawk missiles.

Some of the ships are expected to be built in the South Australian city of Port Adelaide, creating more than 3,000 jobs, while others will be designed in the US and possibly in Spain, Germany, South Korea and Japan.

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Source: https://www.sggp.org.vn/australia-chi-hon-7-ty-usd-nang-cap-hai-quan-post727395.html