While a number of major capability projects have already been identified, such as the forecast purchase of up to 100 F-35A Joint Strike Fighter aircraft, combat helicopters and new ships, the DCP will effectively quantify the government's strategy direction, in terms of allocating funding for specific sea, land and aerospace projects.
The new White Paper shifts the focus of the Australian Defence Force to the defence of the nation. Minister for Defence Joel Fitzgibbon reaffirmed the importance of the nation's allies.
"The primary outcome of the White Paper is to build a future force required for the defence of Australia and the security of the immediate region," Mr Fitzgibbon said.
"This White Paper confirms the centrality of the alliance relationship with the United States, and reaffirms Australia's commitment to the United Nations system."
With an outlook covering 20 years, the White Paper forecasts the declining influence of the United States in the Asia-Pacific region as well as the increasing strength of China's military.
Force 2030 describes the long-term investment in Australia's security, and the White Paper describes the key capability elements that comprise the force.
Over the next decade, the Government will spend $30 billion on the existing force, including $6 billion on more than 50 new projects, $18 billion to top-up existing projects and $6 billion on supporting systems and infrastructure.
The Government is committed to 'real' funding growth of three per cent per-annum until 2018, and then 2.2 per cent per annum through until 2030, to meet the costs of new military equipment as well as the expansion of the permanent defence force by 6,000 members to a total force of 58,000.