The R&D budget for Defence in Australia underwent fluctuations from 2013 to 2023, reaching 6.41 units of Total GBARD in 2023. Initially marked by increases, such as the significant rise in 2015, it later declined, particularly after 2018. The CAGR over the last five years from 2018 to 2023 was -2.36%. Forecast data from 2024 to 2028 suggests a stable yet slight decline, with a predicted five-year CAGR of -0.01% and an overall negative growth rate of -0.04% by 2028.
Future trends to watch for:
• Monitoring economic conditions and government fiscal policies will be crucial, as these can significantly influence defense R&D funding.
• Technological advancements and potential geopolitical tensions could lead to strategic reallocations of the defense budget, impacting R&D investment patterns.
