The export of munitions of war, ammunition, and projectiles from Australia experienced significant fluctuations between 2013 and 2023, with values peaking in 2014 and hitting a low in 2016. However, the past five years have shown relatively stable volumes, with the export volume standing at 222.5 thousand kilograms in 2023. The year-on-year variation in the last two years has been minimal, with a slight decrease of 0.97% in 2023 following a small increase of 4.23% in 2022. The compound annual growth rate (CAGR) over the last five years was nearly flat at -0.99%.
Future forecasts predict a gradual decline with an average annual decrease of 0.82% over the next five years, leading to an estimated 4.03% drop in total volume by 2028. The export volume for 2028 is forecasted to be around 210.46 thousand kilograms.
Future trends to watch for include:
- Changes in global political climate and defense policies.
- Shifts in demand from international markets.
- Technological advancements in military equipment.
- Regulatory adjustments affecting export controls.
