diff --git a/Makefile b/Makefile
index 7d89824819d..697c82dc699 100644
--- a/Makefile
+++ b/Makefile
@@ -312,7 +312,7 @@ create-management-cluster: $(KUSTOMIZE) $(ENVSUBST) $(KUBECTL) $(KIND) ## Create
 	./hack/create-custom-cloud-provider-config.sh
 
 	# Deploy CAPI
-	timeout --foreground 300 bash -c "until curl --retry $(CURL_RETRIES) -sSL https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.7.4/cluster-api-components.yaml | $(ENVSUBST) | $(KUBECTL) apply -f -; do sleep 5; done"
+	timeout --foreground 300 bash -c "until curl --retry $(CURL_RETRIES) -sSL https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.7.5/cluster-api-components.yaml | $(ENVSUBST) | $(KUBECTL) apply -f -; do sleep 5; done"
 
 	# Deploy CAAPH
 	timeout --foreground 300 bash -c "until curl --retry $(CURL_RETRIES) -sSL https://github.com/kubernetes-sigs/cluster-api-addon-provider-helm/releases/download/v0.1.0-alpha.10/addon-components.yaml | $(ENVSUBST) | $(KUBECTL) apply -f -; do sleep 5; done"
diff --git a/Tiltfile b/Tiltfile
index c52ea01d01b..ed94c47715b 100644
--- a/Tiltfile
+++ b/Tiltfile
@@ -20,9 +20,9 @@ settings = {
     "deploy_cert_manager": True,
     "preload_images_for_kind": True,
     "kind_cluster_name": "capz",
-    "capi_version": "v1.7.4",
+    "capi_version": "v1.7.5",
     "caaph_version": "v0.2.1",
-    "cert_manager_version": "v1.15.1",
+    "cert_manager_version": "v1.15.2",
     "kubernetes_version": "v1.28.3",
     "aks_kubernetes_version": "v1.28.3",
     "flatcar_version": "3374.2.1",
diff --git a/go.mod b/go.mod
index 2a1444d4aca..7032092ff5b 100644
--- a/go.mod
+++ b/go.mod
@@ -54,8 +54,8 @@ require (
 	k8s.io/kubectl v0.29.3
 	k8s.io/utils v0.0.0-20240502163921-fe8a2dddb1d0
 	sigs.k8s.io/cloud-provider-azure v1.29.3
-	sigs.k8s.io/cluster-api v1.7.4
-	sigs.k8s.io/cluster-api/test v1.7.4
+	sigs.k8s.io/cluster-api v1.7.5
+	sigs.k8s.io/cluster-api/test v1.7.5
 	sigs.k8s.io/controller-runtime v0.18.4
 	sigs.k8s.io/kind v0.23.0
 )
@@ -217,7 +217,7 @@ require (
 	sigs.k8s.io/yaml v1.4.0 // indirect
 )
 
-replace sigs.k8s.io/cluster-api => sigs.k8s.io/cluster-api v1.7.4
+replace sigs.k8s.io/cluster-api => sigs.k8s.io/cluster-api v1.7.5
 
 // kube-openapi should match the version imported by CAPI.
 replace k8s.io/kube-openapi => k8s.io/kube-openapi v0.0.0-20231010175941-2dd684a91f00
diff --git a/go.sum b/go.sum
index 3465c85984c..3f15ad49498 100644
--- a/go.sum
+++ b/go.sum
@@ -718,10 +718,10 @@ sigs.k8s.io/cloud-provider-azure/pkg/azclient v0.0.2 h1:9Zp+uWnxdUOoy/FaQK1DjPfL
 sigs.k8s.io/cloud-provider-azure/pkg/azclient v0.0.2/go.mod h1:JKWYkoOyET3wsN0Kk9WxA+zpopkuCy+v4+mrnJ60Yyk=
 sigs.k8s.io/cloud-provider-azure/pkg/azclient/configloader v0.0.1 h1:Lp0nALZmvMJoiVeVV6XjnZv1uClfArnThhuDAjaqE5A=
 sigs.k8s.io/cloud-provider-azure/pkg/azclient/configloader v0.0.1/go.mod h1:pPkJPx/eMVWP3R+LhPoOYGoY7lywcMJev5L2uSfH+Jo=
-sigs.k8s.io/cluster-api v1.7.4 h1:gT9WGbLXKE19pNR6s/cTLRqK2G0EbwxxQrUrw7/w5P4=
-sigs.k8s.io/cluster-api v1.7.4/go.mod h1:V9ZhKLvQtsDODwjXOKgbitjyCmC71yMBwDcMyNNIov0=
-sigs.k8s.io/cluster-api/test v1.7.4 h1:yBeWaQoPcAbLMF/ddgz0IWJiFgfJe+QfZJ4QWexMVOw=
-sigs.k8s.io/cluster-api/test v1.7.4/go.mod h1:KbK8+zZEmSopCm6IGd9Vk+573sQ+HL6hnPvqelJEYi4=
+sigs.k8s.io/cluster-api v1.7.5 h1:FNg2av2yX4eegJzoZAqV7VfhCKdbyl/I+8tuyhA8xLc=
+sigs.k8s.io/cluster-api v1.7.5/go.mod h1:V9ZhKLvQtsDODwjXOKgbitjyCmC71yMBwDcMyNNIov0=
+sigs.k8s.io/cluster-api/test v1.7.5 h1:aCDN/o2MMO3ZRkJb5F3K9QLH/dnI6AgUtKcG4F3bKes=
+sigs.k8s.io/cluster-api/test v1.7.5/go.mod h1:duCbyppQEogtpqA8PupIRX1O2b7qh6xrwrpFTexr1DY=
 sigs.k8s.io/controller-runtime v0.17.3 h1:65QmN7r3FWgTxDMz9fvGnO1kbf2nu+acg9p2R9oYYYk=
 sigs.k8s.io/controller-runtime v0.17.3/go.mod h1:N0jpP5Lo7lMTF9aL56Z/B2oWBJjey6StQM0jRbKQXtY=
 sigs.k8s.io/json v0.0.0-20221116044647-bc3834ca7abd h1:EDPBXCAspyGV4jQlpZSudPeMmr1bNJefnuqLsRAsHZo=
diff --git a/hack/install-cert-manager.sh b/hack/install-cert-manager.sh
index f3acc672f3c..16f6311d506 100755
--- a/hack/install-cert-manager.sh
+++ b/hack/install-cert-manager.sh
@@ -54,7 +54,7 @@ source "${REPO_ROOT}/hack/common-vars.sh"
 make --directory="${REPO_ROOT}" "${KUBECTL##*/}"
 
 ## Install cert manager and wait for availability
-"${KUBECTL}" apply -f https://github.com/jetstack/cert-manager/releases/download/v1.15.1/cert-manager.yaml
+"${KUBECTL}" apply -f https://github.com/jetstack/cert-manager/releases/download/v1.15.2/cert-manager.yaml
 "${KUBECTL}" wait --for=condition=Available --timeout=5m -n cert-manager deployment/cert-manager
 "${KUBECTL}" wait --for=condition=Available --timeout=5m -n cert-manager deployment/cert-manager-cainjector
 "${KUBECTL}" wait --for=condition=Available --timeout=5m -n cert-manager deployment/cert-manager-webhook
diff --git a/test/e2e/config/azure-dev.yaml b/test/e2e/config/azure-dev.yaml
index a79ff066129..490cf419081 100644
--- a/test/e2e/config/azure-dev.yaml
+++ b/test/e2e/config/azure-dev.yaml
@@ -3,11 +3,11 @@ managementClusterName: capz-e2e
 images:
   - name: ${MANAGER_IMAGE}
     loadBehavior: mustLoad
-  - name: registry.k8s.io/cluster-api/cluster-api-controller:v1.7.4
+  - name: registry.k8s.io/cluster-api/cluster-api-controller:v1.7.5
     loadBehavior: tryLoad
-  - name: registry.k8s.io/cluster-api/kubeadm-bootstrap-controller:v1.7.4
+  - name: registry.k8s.io/cluster-api/kubeadm-bootstrap-controller:v1.7.5
     loadBehavior: tryLoad
-  - name: registry.k8s.io/cluster-api/kubeadm-control-plane-controller:v1.7.4
+  - name: registry.k8s.io/cluster-api/kubeadm-control-plane-controller:v1.7.5
     loadBehavior: tryLoad
   - name: registry.k8s.io/cluster-api-helm/cluster-api-helm-controller:v0.1.1-alpha.1
     loadBehavior: tryLoad
@@ -16,8 +16,8 @@ providers:
   - name: cluster-api
     type: CoreProvider
     versions:
-    - name: v1.6.7 # latest patch of earliest minor in supported v1beta1 releases; this is used for v1beta1 old --> v1beta1 latest clusterctl upgrades test only.
-      value: "https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.6.7/core-components.yaml"
+    - name: v1.6.8 # latest patch of earliest minor in supported v1beta1 releases; this is used for v1beta1 old --> v1beta1 latest clusterctl upgrades test only.
+      value: "https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.6.8/core-components.yaml"
       type: "url"
       contract: v1beta1
       replacements:
@@ -25,8 +25,8 @@ providers:
           new: --metrics-addr=:8080
       files:
         - sourcePath: "../data/shared/v1beta1/metadata.yaml"
-    - name: v1.7.4
-      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.7.4/core-components.yaml
+    - name: v1.7.5
+      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.7.5/core-components.yaml
       type: url
       contract: v1beta1
       files:
@@ -39,8 +39,8 @@ providers:
   - name: kubeadm
     type: BootstrapProvider
     versions:
-    - name: v1.6.7 # latest patch of earliest minor in supported v1beta1 releases; this is used for v1beta1 old --> v1beta1 latest clusterctl upgrades test only.
-      value: "https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.6.7/bootstrap-components.yaml"
+    - name: v1.6.8 # latest patch of earliest minor in supported v1beta1 releases; this is used for v1beta1 old --> v1beta1 latest clusterctl upgrades test only.
+      value: "https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.6.8/bootstrap-components.yaml"
       type: "url"
       contract: v1beta1
       replacements:
@@ -48,8 +48,8 @@ providers:
           new: --metrics-addr=:8080
       files:
         - sourcePath: "../data/shared/v1beta1/metadata.yaml"
-    - name: v1.7.4
-      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.7.4/bootstrap-components.yaml
+    - name: v1.7.5
+      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.7.5/bootstrap-components.yaml
       type: url
       contract: v1beta1
       files:
@@ -61,8 +61,8 @@ providers:
   - name: kubeadm
     type: ControlPlaneProvider
     versions:
-    - name: v1.6.7 # latest patch of earliest minor in supported v1beta1 releases; this is used for v1beta1 old --> v1beta1 latest clusterctl upgrades test only.
-      value: "https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.6.7/control-plane-components.yaml"
+    - name: v1.6.8 # latest patch of earliest minor in supported v1beta1 releases; this is used for v1beta1 old --> v1beta1 latest clusterctl upgrades test only.
+      value: "https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.6.8/control-plane-components.yaml"
       type: "url"
       contract: v1beta1
       replacements:
@@ -70,8 +70,8 @@ providers:
           new: --metrics-addr=:8080
       files:
         - sourcePath: "../data/shared/v1beta1/metadata.yaml"
-    - name: v1.7.4
-      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.7.4/control-plane-components.yaml
+    - name: v1.7.5
+      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.7.5/control-plane-components.yaml
       type: url
       contract: v1beta1
       files:
@@ -224,8 +224,8 @@ variables:
   SECURITY_SCAN_FAIL_THRESHOLD: "${SECURITY_SCAN_FAIL_THRESHOLD:-100}"
   SECURITY_SCAN_CONTAINER: "${SECURITY_SCAN_CONTAINER:-quay.io/armosec/kubescape:v2.0.167}"
   AZURE_CNI_V1_MANIFEST_PATH: "${PWD}/templates/addons/azure-cni-v1.yaml"
-  OLD_CAPI_UPGRADE_VERSION: "v1.6.7"
-  LATEST_CAPI_UPGRADE_VERSION: "v1.7.4"
+  OLD_CAPI_UPGRADE_VERSION: "v1.6.8"
+  LATEST_CAPI_UPGRADE_VERSION: "v1.7.5"
   OLD_PROVIDER_UPGRADE_VERSION: "v1.15.3"
   LATEST_PROVIDER_UPGRADE_VERSION: "v1.16.0"
   OLD_CAAPH_UPGRADE_VERSION: "v0.1.0-alpha.10"