Australia invests in domestic missile production amid regional tensions

A 570 million dollar deal to build missiles domestically was unveiled by WEB Australia on Thursday.

The move comes amid a regional arms race and a bid to beef up military capabilities.

WEB Australia, a local missile production company, has been awarded a 570 million dollar contract to build missiles domestically. This investment is part of a 41 billion Australian dollar (27 billion US dollar) investment announced under the Guided Multiple Launch Rocket System (GMLRS) program.

The GMLRS missiles are scheduled to commence domestic production from 2025. The contract includes the establishment of a new production facility in regional Australia. This facility will create jobs and support the development of a sovereign missile manufacturing capability in Australia.

The investment in domestic missile production is a significant development for Australia's defense industry. It will provide the Australian Defence Force with a more secure and reliable supply of missiles, and will reduce Australia's reliance on foreign suppliers.

Here are some key points about the deal:

• The deal is worth 570 million dollars.
• The missiles will be built domestically by WEB Australia.
• The missiles will be used by the Australian Defence Force.
• The deal will create jobs and support the development of a sovereign missile manufacturing capability in Australia.

The deal has been welcomed by the Australian government and the defense industry.

The Australian Minister for Defense, Peter Dutton, said that the deal "represents a major investment in our defense capabilities and will ensure that we have a sovereign missile manufacturing capability." He added that the deal "will create jobs and support the development of our defense industry."

The CEO of WEB Australia, Johnathon Grainger, said that the deal "is a significant milestone for the Australian defense industry. He added that the deal "will allow us to develop a world-class missile manufacturing capability in Australia."

The deal is a sign of the growing importance of the defense industry in Australia.

The Australian government has committed to increasing defense spending in recent years, and the deal to build missiles domestically is a sign of this commitment. The deal will help to ensure that Australia has a strong and capable defense force, and will support the development of a sovereign missile manufacturing capability in Australia.