Defence minister Richard Marles’ April 15 announcement that he plans to increase military spending by $53 billion over the next 10 years show up Labor’s priorities: Boosting weapons’ company profits and shoring up Australia’s position as deputy sheriff for the United States in the Asia Pacific.

It means at least $425 billion of public money will be spent on military technology and infrastructure, taking military spending up to 3% of gross domestic product by 2033.

While US President Donald Trump’s call for allies to raise military spending to 3.5% may have been a factor, it has long been bipartisan policy for Australia to become one of the world’s top 10 arms exporters.

Labor’s announcement confirms it is joining a global military spending surge.

The Stockholm International Peace Research Institute reported on April 27 that global military spending reached $2887 billion in 2025, rising by 41% over the past decade.

Australia ranks 17th globally in terms of overall military spending, but spends more as a percentage of gross domestic product than China, France, Japan, Canada and Brazil.

Between $94–130 billion will be spent on undersea warfare, including underwater Ghost Shark drones, AUKUS........

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