KPMG report highlights Lockheed Martin’s contribution to Australian economy

The F-35A flies its aerial demonstration debut at the 2017 Paris Air Show. Picture courtesy of Lockheed Martin

Minister for Defence Industry, Christopher Pyne, today released the KPMG report “The Economic Contribution of Lockheed Martin to Australia” – highlighting Lockheed Martin Australia’s positive impact on the economy.

The report notes that Lockheed Martin Australia’s workforce has increased by almost 100 per cent since 2016.

“As this report notes, for the year of 2016, Lockheed Martin Australia contributed an estimated $340 million to Australia’s GDP,” Minister Pyne said.

The KPMG analysis report, published in May 2018,  updates and extends the initial base lining of the impact of Lockheed Martin Australia on the Australian economy undertaken in 2015.

The report also provides a thorough overview of Lockheed Martin Australia’s products and programs in Australia, and the contribution the company makes to Australia’s security.

According to the report, during the period Lockheed Martin Australia invested over $60 million to partner with over 30 Australian small and medium sized enterprises through the Global Supply Chain Initiative.

At the end of 2016, KPMG estimated that 1,215 skilled manufacturing and systems integration jobs existed in the country to support Lockheed Martin products and programs.

“Lockheed Martin is an industry leader in defence and technology and works with local partners to bring best practice and leading edge concepts and technology to Australia.

“Lockheed Martin Australia continues to provide efficient and effective defence capabilities to the Australian Defence Force including the Joint Strike Fighter, the design and integration of the combat system for Australia’s Future Submarines, next generation pilot training, and the Aegis combat system for Australia’s Air Warfare Destroyers and Future Frigates,” Minister Pyne said.

The report can be accessed at: https://www.lockheedmartin.com/content/dam/lockheed-martin/au/documents/LMA_FinalReport_May2018_protected%20Plain%20Cover.pdf