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I think you've hit the nail on the head with regards to the requirements and benefits of the C17 vs the type of equipment the NZDF now operates.Welcome aboard.
Well the LEP has actually turned out to have been a blessing in disguise because it has given the NZG and NZDF the opportunity to fully evaluate the NZDF airlift capabilities and needs for the next 30 - 50 years without having the millstone of new expensive fixed wing transport aircraft around their necks.
Short answer, no the C130s have really reached their maximum life. NZ7001 - 03 are the oldest H models ever with 01 being the test aircraft for the H series back in 1964 / 65. You are right about Andover replacements though and we would presume that this will be a major part of the study.
Ok, the C27J offers better capability than the C295. It has ability to carry more L463 pallets and at full height which the C295 cannot. The cross section of the C295 is narrower and lower than that of the C27J hence any pallets going into the C295 have to be double handled and loaded to a lower height. This means that the pallets have to be turned 90 degrees from normal to be loaded length ways into the C295 and since the pallets cannot be loaded to full height extra pallets may be needed which could mean an extra sortie. Compared to the C295, the C27J has far longer range and lifting capability because of it's more powerful engines and greater fuel capacity. In a NZ and Pacific context that difference is quite important.
Ron Mark hasn't got his head past the 1990s thinking and into the 21st Century military and defence ethos and strategic thinking. NZDF is now focussed on a completely different mission since the 1990s and it actually has a long term out look. It now is starting to actually operate as an Expeditionary Force which it always as been; this being in the form of the Joint Amphibious Task Force. This means that it will have the maritime and airborne platforms required for it to perform that capability. I acknowledge that two important parts of it are missing (fast jet strike and rotary wing CAS) but the rest of the basics are in place and the skills are being acquired.
The C17 offers NZDF a very capable tool that, if acquired, will dramatically enhance its ability to deploy its JATF and other NZDF assets as required. Much of the equipment that NZDF now has no longer fits into the C130 Hercules hence the C130 no longer meets the strategic air transport capability requirement. This means that there are only two aircraft left to meet that requirement. The C17 which is now going out of production but a mature and proven platform in service with the USAF, RAF and RAAF plus a couple of other nations or the A400M which is very new, unproven beset by delivery problems and hasn't achieved IOC yet. The NZG has stated that it will not purchase platforms that are not mature and not reached FOC with any of our friends or partners. IMHO the C17 offers us the best choice for Strategic Air Lift and we will get our monies worth out of it, just as we have with the C130s.
The C17s are not the only aircraft replacing the C130 / B757 / B200 aircraft. A C27J type aircraft may be acquired but until the study is finished w just don't know. The only reason the C17 has come to light is because of the Minister and the fact that the white tails have a finite and ever diminishing amount of purchase time left on them.
Addition: Amphibious now doesn't just mean its traditional definition of manoeuvre from the sea to out flank an enemy, but can also mean manoeuvre from the air to out flank an enemy. Think about C17s and A400s landing forces well behind enemy lines in the outback and establishing a beach head from which to force the enemy to divide his forces or to respond.
Just as a note, the C17 with a full load (164,900lb) needs a 3,500ft x 90ft runway to take off; the A400 with a full load (81,570lb) needs exactly the same; The C130J-30 with a full load ((40,000lb) needs a 5,000ft x 80ft runway to take off. Now I saw that on a graphic on another site so I'll try and hunt down the original.
The benefits the C27 offers in terms of cargo I thinks needs to balanced against the how critical the medium MPA role is. Potentially with some work (in a risk adverse NZDF for capital purchases) the modular FITS capability could be fitted for a basic MPA (Similar to the F-27 of the 1980's) to the C27. However the proposed reduction in numbers to 4 P8 will force I think a look at more dedicated medium range MPA aircraft and this I think is where the C-295 might win out given its multirole capability.