Juniper Networks claims it has overtaken Cisco Systems in the local high-end routing segment achieving 64 percent market share.
Shaun Page, managing director of Juniper ANZ, said the company has taken seven points off the networking giant in the last quarter.
"We have beaten Cisco in the last four quarters and the company's strong performance is unique to Australia and New Zealand; it doesn't reflect the global landscape," he said.
"Basically it's a two horse race in Australia; less than three years ago we had only 15 percent market share.
"Give it another four years and see how successful we can be ... last financial year we achieved revenues in excess of $100 million."
Just a few years ago Page was heading up Unisphere Networks which Juniper acquired in 2002 and its acquisition activity hasn't slowed as it expands into new markets.
Last year the company took over Netscreen and moved into the security space.
"In this arena Cisco is number one but we have just pushed out Check Point for number two position locally," Page said.
More recently the company has made a play for the application acceleration market undertaking three acquisitions in three months including Redline and Peribit.
With such a broad product base, Page says the company is now ready to take on the enterprise market.
Currently the bulk of Juniper's revenues come from its top five customers which are all in the telco space.
"We are leveraging this solid relationship with the telcos to move into the enterprise; the foundations are in place to go to the next level," Page said.
Evidence of Juniper's push into government emerged last year when the company announced the appointment of John Blackley to head up government business in its ACT office which opened in September.
Blackley was the former head of Cisco's ACT operations and is well-established in government markets.
Acknowledging that winning government business takes time, Page said the Department of Defence will be undertaking a network refresh in the 2006/07 financial year.
"The review is still more than a year away but you have to establish a presence early," he said.
"Defence still runs one of the largest ATM (Asynchronous Transfer Mode) networks in the world so moving to IP will be a big step."
While Cisco and Nortel have been the traditional suppliers to Defence, Page said Australia's largest government agencies have adopted multi-vendor strategies, which provides opportunities for more players.
"You have to eat the elephant one bite at a time and more importantly, be careful where you go hunting so your efforts aren't wasted," he said.
A spokesman for Cisco said the company doesn't debate quarterly statistics but noted that a lot of competitors "spend a lot of time talking about us".