If we kept our sights low and built something basic under license with the possibility to improve it as we have done in the past, we would have an industry.
We would not be 100% reliant on others who could find in the future that their own needs are greater than ours.
Australia actually still does have an industry building small planes and I am sure there are sufficient qualified people to expand the industry to build a basic fighter and then due to the cost savings augment it with some imported fighter/bombers.
