The plan, announced Monday, is billed as a critical tool for growing Australia's economy by recognizing the opportunity the defense industry can have on it's gross domestic product.
"Australia's defense industry plays a critical role in delivering the technology, innovation and products needed to ensure the Australian Defense Force has the capability it needs to meet its objectives," Gabby Costiga, BAE Systems Australia chief executive, said in a press release.
BAE Systems said it has one of the nation's largest supply chains and a legacy of working closely with Australian officials in opening opportunity for both local and international business.
"The Defense Industry in Australia is a highly productive one, employing many thousands of highly-skilled professionals. The Defense Industry Capability Plan, together with the Government's Defense Export Strategy, will work hand in hand to ensure continued opportunities that will grow our base of technicians, engineers and scientists," said Costigan.
Among other projects, BAE in 2016 announced plans to open a new Center for Defense Industry Capability in Australia and has worked closely with government officials to develop the SEA 5000 program, which includes plans to build nine new frigates for the Royal Australian Navy.
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