USSC Research Associate Sophie Mayo tells Crikey that AUKUS-linked reforms in US export controls, known as International Traffic in Arms Regulations (ITAR), would allow Australian investors to benefit from the pact.

“We will likely see greater US investment into Australian defence companies and greater opportunities for manufacturing and production to occur in Australia too. A good example is the announcement this week that Lockheed Martin will produce long range missiles for the army in Australia.”