With insurers’ eyes locked on developments in the Red Sea, Australia has announced plans to expand its naval capabilities amid escalating tensions.
According to a report by Bloomberg, the government intends to substantially increase its naval fleet’s size, while also adjusting the production scale of the BAE Systems Plc Hunter-Class frigates due to ongoing issues.
Defence Minister Richard Marles said the May budget will see an additional $11.1 billion allocated to naval warship funding over the coming decade.
Under this plan, the fleet is expected to grow to 26 warships by the mid-to-late 2040s, up from the current 11.
This will include three upgraded Hobart-class destroyers, six Hunter-class frigates, 11 general-purpose frigates intended to replace the Anzac-class frigates, and six large operationally crewed surface vessels.
The Australian Navy’s current fleet is its oldest on record. The planned overhaul will mark the largest expansion since the Second World War.
In his announcement, Marles said the goal was to establish a larger and more lethal fleet that complements conventionally-armed, nuclear-powered submarines.
He added that the plan has been in development for nearly a year, formulated as a response to a government review which found that the country’s defence forces were “not fully fit for purpose.”
A subsequent review focused on the surface fleet, led by former US Admiral William H. Hilarides, also played a critical role in shaping the new naval strategy, according to Marles.
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