The Australian government, on 16 April, released its 2026 National Defence Strategy (NDS) and accompanying Integrated Investment Program (IIP), outlining approximately A$425 billion (US$304.83 billion) in capability investment over the decade to 2035–36.
The package includes an additional A$14 billion over the next four years and A$53 billion over the decade – bringing total additional investment across the 2024 and 2026 strategies to A$30 billion over four years and A$117 billion across the planning decade.
Defence spending as a proportion of GDP is projected to rise to 3% by 2033 under the NATO measurement approach, up from a 2024 IIP