You're correct that nothing can replace the long range strike capability of an F-111 (aka 'Pig') but we must be mindful that Pigs were designed for a type of conflict that was predominantly a product of the 50s/60s. That is, single raiders striking deep and fast, and 'under the radar'. The world has moved on. These days, air and ground sensors have advanced to the point (and are available to the undesirables) where there is no such thing as 'under the radar' and the only way to defeat such sensors is via stealth technology...something the Pig wasn't really designed for. As such, it's survivability in a modern conflict (without escorts) is questionable. Sure it might get to the target and deliver its payload, but it's likely to be a one way trip which is untenable for a very high value asset (which includes its hard-to-replace crew). Enter the Super Hornet (and JSF) with its modern stealth characteristics, avionics, self protection and weapons. It's designed for a different type of contemporary conflict where seeing your target is not important to prosecute it. Therefore, while the Pig remains the sentimental favorite it has had its day and IMHO the Super Hornet provides a superior alternate capability for defending Australia's area if interest
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