The Australian Government is investing $200 billion over this decade and beyond into modernising the nation's defence capability. That's a significant market to consider playing in.
Of course, as you would expect, there are larger companies already in this market, known to Defence as "primes" or prime contractors. These primes have an obligation to use Australian business in their supply chain where possible. This represents a significant opportunity for Australian business to consider.
I recently attended a Defence Market Information Session facilitated by the Centre for Defence Industry Capability. In addition to our host, other organisations presenting included:
Each organisation gave a presentation with of course including a bit of self promotion, however there were some great summary points that I got out of the day and I'd love to share them with you.
Positives to ponder:
Challenges to contemplate:
I have worked with a few clients over the years who have worked for one of the primes. To ensure they have put their best foot forward when tendering, I have assisted with capability statements, website content and case study preparation. One of the companies has walked away from the work citing the additional paperwork costs were too high. The other two are still doing work and have used this to diversify their revenue streams.
In closing, I would like to point out that if you do see taking part in the Defence supply chain as a viable market to pursue, there is plenty of help available. The Australian Industry and Defence Network and AusIndustry are both great places to start your research.
Let me know how you go.