In 2023 to 2024, the Australian defence industry contributed $11.9 billion in gross value added (GVA) to the Australian economy according to figures released on 16 April 2025 by the Australian Bureau of Statistics (ABS). This accounts for 0.47 per cent of total GVA.
"Australian defence industry GVA grew by 12.4 per cent, or $1.3 billion, in the 2023-24 financial year," ABS head of satellite accounts, Luisa Ryan, said.
Employment in the Australian defence industry has grown by 9.1 per cent in the 2023-2024 financial year, reaching a total of 69,400 people.
"South Australia drove the national defence industry growth. The state’s defence industry grew by $425 million, and 1,300 more defence industry employees were added," Ryan stated.
New South Wales and Victoria have continued to have the largest defence industries of the states and territories, with the defence industry contributing $3.5 billion in New South Wales and $2.5 billion in Victoria.
Professional, scientific and technical services ($5.4 billion) and manufacturing ($2 billion) have persisted as the largest contributors to the Australian defence industry.