Rand inquiry into naval shipbuilding

KEY FACTS ABOUT RAND REVIEW OF NAVAL SHIPBUILDING:

* Rand Corporation is an influential US strategic thinktank.

* Report commissioned by former defence minister David Johnston at a cost of $A2.5 million.

* Australia will need some 50 new warships and submarines over the next two decades.

* Rand brief - to examine the state of Australian shipbuilding and costs, compared to other nations.

* Rand brief excluded assessment of construction of new submarines in Australia.

* Australia pays a 30-40 per cent premium for local construction of warships.

* That would reduce if Australia adopted a rolling build, turning out a new ship every 18-24 months.

* Industry would need to lift productivity.

* Australia can't avoid the downturn in work between end of current ship projects and start of new work.

* Impact of that "valley of death" can be reduced, for example, by bring forward some projects.