Raytheon Australia, the Combat System Integrator for the Air Warfare Destroyer, welcomed the release of the plan, with managing director Michael Ward noting it offers a strong indication of commitment to the industry.
"The government’s plan outlines a strong future for naval shipbuilding and offers much needed certainty for Australia’s defence industry," said Ward.
"This document represents the consolidation of the important decisions taken by the government to renew Australia’s naval fleet and to involve Australian industry in this important endeavour. Businesses will see this as a valuable planning tool to make the necessary investment decisions to deliver an ambitious series of naval projects."
Ward said the plan is also an ideal blueprint for underpinning the creation of more jobs in the industry, an industry in which Raytheon Australia employs 1,300 people.
"The direction provided in this plan and the government’s continuous shipbuilding program will underpin thousands of jobs in businesses both large and small. The plan will strengthen confidence in the sector, enhance job security and encourage the development of high value skills, such as in systems integration," Ward said.
Lockheed Martin Australia has also announced their support of the government's plan, with chief executive Vince Di Pietro saying it is another show of confidence in the industry.
"The significant investment by the government outlined in the Naval Shipbuilding Plan will help to ensure a sustainable approach to the future of Australia’s defence industry capability, particularly within the maritime domain, for many decades to come," Di Pietro said.
"This announcement, coupled with the 2016 Defence White Paper, further reinforces the government’s commitment to, and confidence in, Australia’s defence industry as a fundamental input to capability."
Lockheed Martin Australia, which employs over 800 people around Australia, is responsible for integrating its combat system for the Future Submarines.