Australia unveiled a $570m deal to build missiles domestically.

This is in a bid to beef up military capabilities amid a regional arms race.

Defence Industry Minister Pat Conroy announced that the deal is to develop naval and air-launched Joint Strike Missiles (JSM) at a plant north of Sydney.

The factory will break ground later this year, producing anti-ship cruise missiles and JSMs that can be fitted to state-of-the-art F-35A aircraft.

Concerns about China’s massive defence spending and Russia’s invasion of Ukraine have led many US allies to voice concern about a shortfall in munitions manufacturing capabilities