The compendium brings together articles published over the past 12 months, examining the most significant strategic, operational, technological and economic challenges facing Australia at a consequential moment in its history. The volume reflects the breadth of the challenges confronting Australia across five thematic parts: strategy and deterrence, regional security, Taiwan, capabilities and defence spending.

This paper proposes that the cost of AUKUS is unknown. From the available estimates, it appears that the cost will average in the low tens of billions each year. The paper concludes that the AUKUS submarine deal has not been justified; it is for the Government to explain how it will be paid for.

Australia’s 2026–27 Defence Budget commits the Commonwealth to spending approximately $181.9 million on defence every day. This report examines the Australian Government’s progress with, and spending on, the 2026 National Defence Strategy and the updated Integrated Investment Program. The series has, year after year, assessed what governments said they would do against what the books...

This analysis examines the Philippines as a central test case in the South China Sea contest, where the People’s Republic of China is reshaping the maritime operating environment. The case also matters directly for Australia. Canberra is not a South China Sea claimant, but it depends on open maritime routes and is deepening defence cooperation...

A capable sovereign submarine capability is a core requirement for Australia’s defence over the next two decades, and there are known risks that could prevent that happening. This report proposes that Australia should explore the backup option of leasing or acquiring advanced conventional submarine capability from Japan.