Opinion: With the Japanese government expecting to nearly double its defence budget, Australian businesses will have access to new export and teaming opportunities with the Japanese defence industry. In this piece, Shey Dimon and Christopher Brennan share key insights for Australian businesses looking to expand into the Japanese defence market.
This year is critical for Japan’s defence outlook with significant changes expected in the ministry.
In August 2022, Japan proposed a new defence budget with an increase to the highest level in history of over 5.5 trillion yen ($61.2 billion).
Japan typically spends around 1 per cent of gross domestic product on defence, however, this is likely to push the percentage higher to almost 2 per cent.