With recent headlines a source of considerable alarm, many investors may have wondered if Australia has defence stocks that could benefit from an upswing in military spending. While this kind of investment will not be every investor’s ethical cup of tea, the fact remains that defence is a major industry, and an area in which Australia shows expertise, capability and technological prowess. Here is a look at the ASX’s five top defence stocks.
Austal (ASB, $1.57)
Market capitalisation: $549 million
Five-year total return: 3.8% a year