A Melbourne company will use a $1.5 million Australian Government grant to buy a next generation machining centre to secure more work on the global F-35 Program.
A key supplier to the aerospace and defence industries, Lovitt Technologies will also use the grant to train staff and upgrade equipment and software.
A machining centre is an advanced, fast, computer-controlled machine that can perform multiple operations like milling, boring and drilling.
Lovitt Technologies is the first recipient of Defence's Joint Strike Fighter Industry Support Program - Production and Modernisation Grant, which provides local companies up to 50 per cent of the money they need to develop new or improved capabilities to secure work from the lucrative program.
More than 70 Australian companies have already benefitted from over $3.7 billion in global F-35 production and sustainment contracts.
Australia plans to have 72 fifth-generation, F-35A Lightning II aircraft combining air-to-air, strike and ground attack capabilities.
Head of Aerospace Systems Divisions, Air Vice-Marshal Graham Edwards AM CSC, said Defence wanted more skilled Australian workers to benefit from long-term jobs from the F-35 Program and strengthen Australia's defence industry.
"These commercial contracts and grants create great opportunities and flow on economic benefits to small and unique Australian businesses through supply chain work," Air Vice-Marshal Edwards said.
The grant scheme will introduce a new capability to Australia to manufacture larger and more complex components for the F-35 Program, which will also benefit other Defence programs.
"Australian industry is poised to increase its contribution to the global F-35 Program, which has more than 930 aircraft with an expected global fleet of over 3000," Air Vice-Marshal Edwards said.
