Austal, while having some quality issues and a run in with stock market regulators, is the darling of the US Navy. In August Austal won a massive $4.3 billion contract to build up to 11 Offshore Patrol Cutters for the United States Coast Guard (USCG). Clearly Austal is enmeshed with the US Navy and has a bright future there, even without Aukus. Like many other Australian owned and controlled medium-sized defence contractors, a combination of low share prices and a low dollar has made Australian defence businesses vulnerable to overseas takeover. And Australia, which has done so much to nurture the growth of Australian defence manufacturers, definitely does not want that to occur.

Source: Forbes September 15, 2022 21:56 UTC