The Australian Government has announced funding of $262 million to boost local defence industry through the AUKUS nuclear-powered submarines supply chain.
A range of initiatives designed to uplift our local defence industry, are expected to support around 125 businesses across Australia over the next two years.
The first tranche of funding will support the following programs:
- The Defence Industry Development Grants Program: further investment into eligible Australian businesses intending to participate in the AUKUS submarine supply chain to receive timely uplift funding for security, skills, international accreditations and manufacturing capital equipment for defence domestic or export supply chains.
- The Global Supply Chain Program: expanding the program to support major UK and US submarine industry suppliers to provide commercial opportunities for Australian suppliers and increase Australian participation in trilateral supply chains.
- The Defence Industry Vendor Qualification Program: expanding and accelerating the qualification of Australian products (including, mechanical assemblies, castings, forgings, electro-mechanical components) into US submarine supply chains. This includes working with AUKUS partners to streamline processes and reduce regulatory friction for Australian business.
For more information, visit www.asa.gov.au/business-industry