The government’s commitment to developing a competitive domestic defence industry has been validated with the release of an independent report on Lockheed Martin Australia’s positive impact on the national economy.
Defence Industry Minister Christopher Pyne acknowledged the rapid growth of Lockheed Martin Australia (LMA) and it's positive impact on the national economy when releasing the KPMG report, The Economic Contribution of Lockheed Martin to Australia.
"Lockheed Martin is an industry leader in defence and technology and works with local partners to bring best practice and leading-edge concepts and technology to Australia," he said.
The KPMG report highlights that Lockheed Martin Australia's local workforce has increased by almost 100 per cent since 2016, which has seen a staff of 900 from earlier this year grow to over 1,000 as of today, with staff employed across the nation.
Minister Pyne said, "Lockheed Martin continues to provide efficient and effective defence capabilities for the Australian Defence Force including the Joint Strike Fighter, the design and integration of the combat system for Australia's future submarines, next generation pilot training, and the Aegis combat system for Australia's air warfare destroyers and future frigates."
Additionally, the report identifies the increasing footprint of Lockheed Martin Australia's operations, including:
- Over $60 million invested to help partner with and grow over 30 Australian small and medium-sized enterprises (SMEs) through the Global Supply Chain Initiative;
- An estimated $340 million added to Australia's GDP in 2016 as a result of the combined and current manufacturing and integration activities provided by Lockheed Martin;
- Over $25 million invested in new LMA facilities and locations over the past two years; and
- Parts manufactured by Australian SMEs are exported and integrated into every F-35 aircraft built globally.
The full KPMG report is available here.