Key Takeaways from the 2018 Defence Industrial Capability Plan
The Australian government’s release of the 2018 Defence Industrial Capability Plan (DICP) was a significant development for the country’s defense industry. The Plan outlines a comprehensive roadmap for government and industry collaboration to ensure that Australia has the sovereign defense capability required to meet its national security needs.
Introduction
The DICP is a crucial document for stakeholders in the Australian defense industry. It provides a clear vision for the future of the industry and sets out the steps needed to achieve that vision. In this article, we will explore the DICP in detail, examining its key takeaways and analyzing its potential impact on the Australian defense industry.
Body
1. Defence Industry Policy Statement
The DICP builds upon the Defence Industry Policy Statement released in 2016, which set out the government’s commitment to developing a sustainable and globally competitive Australian defense industry. The policy statement identified ten key strategic elements, including investment, collaboration, and innovation. The DICP takes these elements further, providing a detailed implementation plan and timelines for each.
2. Investment in the Defence Industry
One of the most significant takeaways from the DICP is the government’s commitment to investing in the Australian defense industry. The Plan outlines a range of measures to support industry growth, including:
– Investing AUD 200 billion in defense capability over the next ten years
– Establishing a Sovereign Industrial Capability Priority Framework to ensure Australian businesses are well-positioned to supply defense capability needs
– Increasing export opportunities for Australian companies
3. Innovation and Collaboration
The DICP places a strong emphasis on innovation and collaboration, recognizing that these are critical factors in the development of a thriving defense industry. To support this, the Plan includes initiatives such as:
– The establishment of a Defence Innovation Hub to provide funding and support to innovative businesses
– The expansion of the Centre for Defence Industry Capability to provide more comprehensive support to companies across the defense industry supply chain
– The development of Defense Industrial Capability Assessments to identify capability gaps and potential investment opportunities
4. Skills and Workforce Development
The DICP recognizes that a skilled workforce is essential to the success of the Australian defense industry. To address this, the Plan includes measures to:
– Provide funding for skills and training initiatives, including apprenticeships and internships
– Develop a Defence Industry Skilling and Science, Technology, Engineering and Maths (STEM) Strategy to address future workforce needs
– Establish a Defence Industry Education and Skills Council to provide high-level advice on workforce development issues
Conclusion
The 2018 Defence Industrial Capability Plan is a critical document for the Australian defense industry, providing a roadmap for government and industry collaboration in the coming years. The Plan sets out a range of measures to support industry growth, innovation, and skills development, signaling the government’s commitment to investing in the long-term future of the industry. As stakeholders across the defense industry supply chain work to implement the Plan’s initiatives, we can expect to see significant positive impacts on industry growth and sustainability.
(Note: Do you have knowledge or insights to share? Unlock new opportunities and expand your reach by joining our authors team. Click Registration to join us and share your expertise with our readers.)