AUKUS is a security partnership between Australia, the US and the UK. Under the agreement, the US and UK will support Australia to build five nuclear submarines, which it will begin to receive in the early 2040s. Australia also intends to purchase three Virginia-class nuclear submarines from the US in the 2030s. The three countries have also agreed to collaborate on research into cyber, quantum and hypersonic technologies.
Nuclear submarines are around three times faster than conventional submarines and can operate without resurfacing for significantly longer periods of time, as a result of not needing to refuel.
Australian defence funding is expected to grow from 2.04% of GDP in 2023 to 2.3% of GDP in 2030 with significant cuts to the army and small cuts to the airforce to account for substantially greater funding to the navy.