Key similarities in the way US and Australian companies transact business are set to significantly benefit Australian defense firms seeking to break into the North American market, according to Oklahoma Department of Commerce aerospace and defense director Vince Howie.
“The process for them to come to the United States, I think, is really quite easy,” Howie told Defence Connect.
“Especially for Australian businesses because our laws, our court systems, our business practices, our morals and the way that we conduct business are so similar to one another,” he said. “The Australians do have so many of our platforms already and they’re already doing work in those areas.”
Howie noted that while some new players found the massive scale of the US market daunting, the sheer size of the North American economy meant the potential opportunity was vast.
“I know it scares a lot of people, but because it is such a big market, there’s lots and lots of opportunities,” he added.
“For Australian companies to come to Oklahoma or to the US, it’s a natural fit,” said Howie, highlighting as a key example Queensland engineering firm Ferra’s move into that market.
“They brought a very small presence,” he said. “I think when they first started it was [with] fewer than 10 employees, and now they have their North American showroom, which is a state-of-the-art, beautiful facility there.”