Naval Shipbuilder Rides Australian-US Defence Spending Wave

Naval Shipbuilder Rides Australian-US Defence Spending Wave
Australian defence vessel Cape Inscription, a Cape Class Patrol Boat Supplied by Austal
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Defence contractor Austal has revealed a record financial performance underpinned by growing defence spending from the Australian and U.S. government, despite the effects of COVID-19 on the world economy.

In an announcement, the West Australian naval shipbuilder revealed the company’s revenue exceeded the $2 billion mark for the first time, up a record 13 percent on the previous financial year.
Daniel Y. Teng
Daniel Y. Teng
Writer
Daniel Y. Teng is based in Brisbane, Australia. He focuses on national affairs, including federal politics and Australia-China relations. Got a tip? Contact him at [email protected].
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