Minister for Defence Industry Christopher Pyne announced the government had reached an agreement with Lockheed Martin that will allow the international competitiveness of small to medium sized companies (SMEs) to grow and enter export markets.
Minister Pyne said the global supply chain agreement with Lockheed Martin is a commercial success for all involved.
"This program provides Australian businesses with export opportunities that are both defence and commercial in nature," he said.
"Lockheed Martin is exploring Australia’s research and development community for advanced niche technologies and low technology readiness level solutions that could be injected into major future Lockheed Martin programs.
"This provides opportunity and certainty for our defence companies and research organisations, and with the recent announcement of the Defence Innovation Hub, commercialisation pathways for Australia’s world leading innovations are being realised.
Lockheed Martin is the seventh prime to participate in this global supply chain agreement program. The program also allows primes to provide advocacy, mentoring and training.
Boeing, Raytheon, Rheinmetall, Thales, BAE Systems and Northrop Grumman are also part of the program.
Minister Pyne said the agreements have provided Australian industry with contracts totalling over $830 million.
Lockheed Martin recently held their innovation symposium involving 42 research organisations and academia, reinforcing the contribution the prime makes to supporting Australia’s defence industry.
The global supply chain agreement is supported by Defence through Project AIR 5428 Pilot Training System.