The updated strategy will be discussed in the US next week when NT Chief Minister Michael Gunner and delegates meet with defence officials in Washington.
There are six areas of strategic focus under the refreshed strategy: strategic engagement and communication, business capability, workforce capacity, Defence community, innovation, research and partnership, and strategic infrastructure.
The NT's geographical location within the Indo-Pacific region is a key element of the strategy, with the NT government arguing its position makes it well placed from a military, humanitarian, border security and economic standpoint.
The $20 billion worth of investment tipped to be spent in the NT over the next two decades is also a crucial part of the refreshed strategy.
"The Northern Territory Defence and National Security Strategy 2018 establishes the vision of the Northern Territory government, industry and the community for the Northern Territory as a key defence and national security hub and the primary centre for maintenance and sustainment of facilities and assets deployed to the region," Chief Minister Gunner said.
"We know the Australian Defence Force will play a significant role regarding investment and job creation in the Territory with its $20 billion spend in northern Australia. We aim to grow the use of local industry in the supply chain for defence and national security platforms and projects. It is important infrastructure in the Northern Territory supports the ongoing and future needs of Defence, national security agencies, local industry and the community, including the capacity to meet surge demand."
Under the strategy, DefenceNT will meet with partner organisations to achieve the objectives of the strategy, formally coming together every six months to discuss progress.
The strategy also argues wise investment and procurement decisions could advance Indigenous businesses in the NT.
"How the Australian government invests and procures to meet Australia’s defence and national security needs can also deliver broader socioeconomic outcomes in support of other national priorities, including Closing the Gap in Aboriginal disadvantage and in developing northern Australia," the strategy said.