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Australia inks $38m deal to kickstart domestic missile manufacturing

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The Albanese Government has announced a landmark contract worth $37.4 million between the Defence Department and Lockheed Martin Australia, aimed at commencing domestic production of Guided Multiple Launch Rocket System.

This move marks a pivotal step towards establishing a self-sustained missile manufacturing industry in the country, a critical objective outlined in response to the Defence Strategic Review.

The contract will not only facilitate the production of an initial batch of GMLRS missiles within Australian borders but also serve as a catalyst for the transfer of essential technical data from the United States, the establishment of robust engineering certification processes, and the development of technical expertise among the Australian workforce.

In addition to the GMLRS missiles, the Australian Government has also confirmed the procurement of Precision Strike Missiles (PrSM). Both PrSM and GMLRS have the capability to engage targets at distances of up to 500 kilometers, making them a formidable addition to the nation’s defense arsenal.

These missiles can be launched from High Mobility Artillery Rocket System (HIMARS) launchers, further enhancing their versatility and effectiveness.

This groundbreaking initiative is part of the $4.1 billion investment plan unveiled in response to the Defence Strategic Review, which aims to bolster the Australian Defence Force’s long-range strike capabilities and promote the in-country production of extended-range munitions.

Satisfaction and development

Deputy Prime Minister, the Hon Richard Marles MP, expressed his satisfaction with the development, stating, “Signing this contract with Lockheed Martin Australia to commence the manufacturing of GMLRS in Australia from 2025 is another example of the Albanese Government delivering key outcomes of the Defence Strategic Review.

“These are important milestones which will see Australia gain the technology we need to establish a sovereign industry, providing opportunities for a highly-skilled workforce.”

Acting Minister for Defence and Minister for Defence Industry, the Hon Pat Conroy MP, also lauded the agreement, affirming, “This announcement delivers on the Albanese Government’s commitment to reprioritise Defence capabilities in line with the Defence Strategic Review, including developing the ADF’s ability to precisely strike targets at longer range.

“This important first step towards the establishment of domestic guided weapons manufacturing in Australia will complement the acquisition of long-range precision strike capabilities and strengthen the ADF’s ability to protect Australia and its interests. This work is a clear demonstration of the ongoing collaboration between Australia and the United States on Australia’s Guided Weapons and Explosive Ordnance Enterprise – a key outcome of the Australia-United States Ministerial Consultations in July 2023.”

As Australia prepares to take a significant leap in its missile manufacturing capabilities, this historic agreement with Lockheed Martin Australia marks a milestone in the country’s journey towards self-reliance and strengthening its national defense infrastructure.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Tasmania AFL team confirmed: Macquarie Point stadium legislation passes

Tasmania joins AFL with the Tassie Devils set for 2028; legislation passed for Macquarie Point stadium.

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Tasmania joins AFL with the Tassie Devils set for 2028; legislation passed for Macquarie Point stadium.


Tasmania is officially joining the AFL! After a marathon debate, the Legislative Council has passed the Macquarie Point stadium-precinct legislation 9-5. This milestone paves the way for the Tassie Devils Football Club to join the AFL in 2028, marking a historic moment for Tasmanian sport.

In an exclusive segment of Footynomics: The Business of Sport, Professor Tim Harcourt discusses the significance of this legislation, the social and economic impact of a new AFL team, and why this process took longer than expected.

We also explore what comes next for Tasmania, the AFL, and the broader implications for sports both in Australia and internationally.

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#TasmaniaAFL #TassieDevils #AFLExpansion #Footynomics #MacquariePoint #SportsEconomics #AustralianFootball #TickerNews


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Australian Dollar hits five-week high amid weak GDP and US Dollar

Australian dollar hits five-week high amid soft US dollar, traders eye RBA policies and Fed meeting impacts.

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Australian dollar hits five-week high amid soft US dollar, traders eye RBA policies and Fed meeting impacts.


The Australian dollar has surged to a five-week high as disappointing GDP data and a softer US dollar reshape trader expectations. Market participants are closely watching the Reserve Bank of Australia’s next policy meeting to gauge future interest rate decisions.

We sit down with Steve Gopalan from SkandaFX to break down what these developments mean for the Australian economy and global markets. From Q3 growth figures to inflation indicators, Steve explains the key drivers behind the Aussie dollar’s recent gains.

Traders are also keeping an eye on the Federal Reserve’s upcoming policy meeting, as a weaker US dollar could have further implications for the Australian currency. Stay informed with expert insights and what to expect in the weeks ahead.

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#AustralianDollar #ForexNews #AUD #GDPUpdate #USdollar #InterestRates #RBA #MarketAnalysis


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EU launches antitrust probe into Meta over WhatsApp AI policy

EU probes Meta’s WhatsApp AI chatbot policy for potential antitrust violations affecting third-party developers and competition.

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EU probes Meta’s WhatsApp AI chatbot policy for potential antitrust violations affecting third-party developers and competition.


The European Commission has opened an antitrust investigation into Meta over WhatsApp’s new AI chatbot policy. The inquiry examines whether the policy restricts third-party AI developers from accessing WhatsApp’s business tools, potentially breaching EU competition rules.

Meta updated its terms, effective January 2026, which have already barred new AI providers since October 15. The rules prohibit AI developers from using WhatsApp as their primary service, affecting a number of AI companies looking to integrate with the platform.

The EU’s competition commissioner is considering interim measures to ensure fair competition. If Meta is found in violation, it could face fines of up to 10% of its global annual revenue.

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#Meta #WhatsApp #EURegulation #AIChatbots #TechNews #Antitrust #DigitalCompetition #MetaAI


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