Canberra, Australia - The Australian government announced on Tuesday a $4.7 billion deal to arm the Australian Defense Force (ADF) with cutting-edge medium and long-range missiles from the US.

The deal seeks to retool Australia's naval capabilities with the purpose of better deterring China's increasingly assertive behavior in the region.

Canberra will spend $7 billion AUD (USD $4.7 billion) to acquire the ship-borne SM-6 missile, which can strike aircraft and cruise missiles, and the medium-range SM-2 Block III C missile, which boasts new guidance and homing capabilities.

"Today I announced a revolutionary step up in Australia’s defense capability with the Albanese Government to acquire long-range missiles from the US," said Pat Conroy, Australia's Minister for Defense Industry, in a post on Twitter.

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"This makes good on our promise to deliver a more lethal navy and is another example of our commitment to keeping Australians safe."

The missiles will be utilized by three Hobart class destroyers before later being deployed on Hunter class anti-submarine frigates.

Such defense spending is part of a defense strategy unveiled earlier this year which focuses on countering Australia's geographical vulnerability while strengthening Canberra's links with Washington and London under the AUKUS agreement.

In a Tuesday statement released by Richard Marles, Australia's Minister for Defense and Deputy Prime Minister, he said that the move will improve the ADF's lethality and the Commonwealth's regional security.

“This is another example of the Albanese Government accelerating the acquisition of critical capabilities for the Australian Defense Force and enhancing the lethality of Navy’s surface combatant fleet," Marles said.

"The Standard Missile‑6 and Standard Missile 2 Block IIIC will enable our Navy to strike maritime, land and air targets at long-range, and provide a terminal ballistic missile defense capability, boosting the capacity for the ADF to safeguard Australians and their interests," he added.