The Australian defence industry has posted a significant growth of 12.4% in 2023-24, contributing $11.9 billion in gross value added to the national economy.
The figure, reported by the Australian Bureau of Statistics, represents 0.47% of the total GVA.
ABS head of satellite accounts, Luisa Ryan, highlighted that the sector's GVA grew by $1.3 billion during the period.
"The Australian defence industry GVA grew by 12.4%, or $1.3 billion, in the 2023-24 financial year," she said.
The industry also saw a notable increase in employment, with a 9.1% rise in the workforce, reaching 69,400 people.
South Australia led the growth, with the state's defence sector expanding by $425 million and adding 1,300 new jobs.
New South Wales and Victoria remained the largest contributors to the defence industry, with New South Wales generating $3.5 billion and Victoria $2.5 billion in defence-related GVA.
Key sectors, including professional, scientific, and technical services ($5.4 billion) and manufacturing ($2 billion), continued to dominate the industry's contribution to Australia's economy.