The Defence Budget on R&D in Australia shows a fluctuating trend from 2013 to 2023, peaking in 2015 with an 18.34% year-on-year increase. However, there was a significant drop in 2019 by 14.13%, followed by relatively stable figures around 6.18 to 6.42 GBARD from 2020 to 2023. The average annual growth rate over the past five years (CAGR) up to 2023 was slightly negative, at -2.36%. Forecasts from 2024 to 2028 indicate stability, with the budget expected to remain at 6.41 GBARD, leading to a forecasted 5-year CAGR of -0.01%.
Future trends to watch for include possible shifts in government policy, global security dynamics, and technological advancements that may prompt increases in the defence R&D budget. Close monitoring of geopolitical risks and investments in emerging defence technologies will be crucial for assessing the potential for budget adjustments beyond current forecasts.
