Australia could face conflict long before the delivery of nuclear-powered submarines, say experts warning the nation to evolve its defence strategy.

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The Australian Strategic Policy Institute says Australia must adapt to manage a "looming period of strategic risk" ahead of the first submarines arriving in the early 2030s.

Australia is set to purchase Virginia-class submarines from the United States from early next decade, before a class of nuclear vessels is co-designed with the UK as part of an AUKUS agreement.

The submarine pact has attracted fierce criticism for its multibillion-dollar price tag and questions over whether the US would hol

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