Published on : Jun 27, 2016
ALBANY, New York, June 27, 2016: The U.K.’s defense expenditure is the focus of a recent market research report added to the extensive research report portfolio of ResearchMoz.us. The report, titled “Future of the UK Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2021,” notes that the overall expenditure on the defense sector in the country saw a decline from US$60 bn in 2012 to US$54.4 bn in 2016. As such, the sector recorded a negative CAGR of 2.42% over the period, majorly owing to the consistent cuts in the defense expenditure by the government as a way of reducing the country’s overall expenditures.
However, the trend is expected to witness a major change over the period between 2017 and 2021 as the country is focusing on increased procurements and ways of strengthening its defense system. Over the report’s forecast period, the expenditure on the country’s defense sector is expected to register a positive 3.09% CAGR, and the country is expected to spend over US$305.5 bn on defense activities during the period. As a result, the defense expenditure in the country is expected to reach a value of US$65.2 bn in 2021.
The report provides a detailed overview of the overall defense industry of the U.K. and analyzes the major aspects that will influence the development of the industry. Major drivers, challenges, and trends affecting the country’s defense industry and the projected impact of those factors on the country’s expenditure on the defense industry are also evaluated at length in the report.
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The report also provides a detailed overview of the major areas of investment in the U.K. so far, the projected sectors to witness rise in investment, and the country’s expenditure and modernization patterns over the review period of the report.
The U.K. defense sector is highly regulated by the country’s government, which recently discarded the offset policy so as to maintain competitiveness of domestic suppliers of defense equipment. Companies wanting to venture in the U.K. defense industries have opportunities in the form of joint weapon programs and joint ventures. Starting subsidiaries in the country and acquiring domestic defense equipment companies is also a good growth opportunity for companies wishing to enter the U.K. defense industry.
The report states that segments such as submarine-ballistic, IT-services networking, multi-role aircraft, multi-mission helicopter MRO, and facilities management will be the key areas for investment in the defense sector in the country over the forecast period. Also, the county will invest nearly US$111 bn for strengthening its homeland security.
The report also gives a detailed overview of the competitive landscape of the U.K. defense industry. The major companies operating in the U.K. defense industry include Rolls-Royce Plc., GKN Aerospace Services, Babcock International Group Plc., Lockheed Martin UK Ltd, Northrop Grumman UK, Boeing UK, L-3 TRL, General Dynamics UK Ltd, Thales UK, and AgustaWestland.
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