diff --git a/Makefile b/Makefile
index 0e2b48a1..ac28fcdc 100644
--- a/Makefile
+++ b/Makefile
@@ -51,7 +51,7 @@ SHELL = /usr/bin/env bash -o pipefail
 .SHELLFLAGS = -ec
 
 ## The version to use for the cert-manager operator
-CERT_MANAGER_VERSION=v1.17.2# renovate datasource=github-tags depName=cert-manager/cert-manager
+CERT_MANAGER_VERSION=v1.18.2# renovate datasource=github-tags depName=cert-manager/cert-manager
 
 ##@ General
 
@@ -439,7 +439,7 @@ CRD_REF_DOCS ?= $(LOCALBIN)/crd-ref-docs
 # additional whitespace will break the renovate regex rules.
 
 KUBECTL_VERSION=v1.32.2# renovate datasource=github-tags depName=kubernetes/kubernetes
-TERRAFORM_VERSION=v1.11.4# renovate datasource=github-tags depName=hashicorp/terraform
+TERRAFORM_VERSION=v1.12.2# renovate datasource=github-tags depName=hashicorp/terraform
 
 CONTROLLER_TOOLS_VERSION=v0.17.3# renovate datasource=go depName=sigs.k8s.io/controller-tools
 CRD_REF_DOCS_VERSION=v0.1.0# renovate datasource=go depName=github.com/elastic/crd-ref-docs