One Stop Solution For In-Depth Market Research Reports

詳細な市場調査レポートのワンストップソリューション

Home    >    AEROSPACE AND DEFENCE   >   United Kingdom Defense Market

英国防衛市場ー業界洞察、主要プレーヤー・企業別、成長機会別、最新傾向別、開発別、主要な成長ドライバー別、主要な課題別によってセグメンテーション、予測


[ 英語タイトル ] United Kingdom Defense Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2030)


Product Code : MDAD00113239
Survey : Mordor Intelligence
Publish On : May, 2021
Category : Aerospace and Defence
Report format : PDF
Sales price option (consumption tax not included)
Single User USD3250 / Question Form
5 User USD3750 / Question Form
Enterprise User USD6500 / Question Form
United State

[Report Description]

The United Kingdom Defense Market is anticipated to register a CAGR of over 2.5% during the forecast period (2021-2030).

Despite the impact of the COVID-19 pandemic on the country’s economy, the government announced that it plans to increase its military budget in the coming years due to the need to enhance the capabilities of its armed forces.

The United Kingdom is one of the top countries globally in terms of defense spending, as per NATO. The country met its target of 2% of the GDP in 2017, 2018, and 2019. The government, in its recent defense budget, proposed an increase in defense spending in 2020, and it is expected to reach GBP 41.3 billion (USD 53 billion). According to the UK Ministry of Defense, the defense spending by the United Kingdom in 2019 was USD 48.65 billion, as compared to USD 49.89 billion in 2018.

The country has been increasing its defense budget and spending over the past few years to achieve NATO’s defense spending target of 2% of total country’s GDP, which is acting as a major driver for growth of the market.

The investments into technological advancements to enhance the lethality, precision and range of weapons, communication range and other support services to address new and rapidly evolving threats of the country is expected to propel the growth of market.

Key Market Trends

The UK plans to Increase its Investments for Naval Fleet Expansion and Modernization

Maritime security is an issue of critical importance to the United Kingdom more so after the United Kingdom voted to leave the EU. Almost 95% of all UK imports and exports move by sea through over 400 British ports. UK maritime security is complex and presents a host of challenges like the prospect of a terrorist attack at sea, the smuggling of illicit goods, threats to marine critical infrastructure, etc. This generates a need for the United Kingdom to enhance its maritime security capabilities. The United Kingdom has taken some important steps to strengthen its maritime security capacities and governance mechanisms, including the establishment of cross-governmental coordination bodies, such as the Joint Maritime Security Center. In March 2021, the government announced new plans to enhance the capabilities of the British Navy through investments for the addition of new surface ships, submarines, weapons, technologies, and missions. For instance, the Royal Navy plans to operate over 20 frigates and destroyers by the early 2030s, with plans to increase the size to 24. Furthermore, by 2022, the country plans to deploy automated and autonomous mine hunting systems as a part of GBP 1 billion (USD 1.87 billion) in mine warfare. Such robust plans are to enhance the naval capabilities of the country and will drive the market growth during forecast period.

The UK Defense Market is Expected to Experience a Steady Growth

The military spending of Europe accounted for almost 20% of the global military spending in 2019. Russia, France, Germany, and the United Kingdom were among the top 10 military spending countries in the world in 2019. As of 2019, the country was the second-largest global defense exporter and it had won defense orders worth almost USD 15.1 billion (GBP 11 billion). According to the UK MoD, the country’s share of the global defense export market was estimated at 16% in 2019, with the Middle East, Europe, and North America being the largest export markets of the country. Revenue expenditure forms the largest share of the UK defense budget. United Kingdom is also the second-largest NATO defense spender after the United States. In 2019, the country was one of the only eight NATO members to meet the guidelines set by NATO to spend at least 2% of national GDP on defense annually. The United Kingdom’s public sector expenditure on defense as a share of GDP in 2019 was 2.1%. In budget 2021, the government announced a budget increase of GBP 16.5 billion (USD 21.9 billion) with additional funding for developing the country’s capabilities in advanced technologies like artificial intelligence, space, cyber, creation of sensor-laden connected hardware. Such investments are anticipated to boost the growth of the UK defense market.

Competitive Landscape

There are several players in the market that support the defense market of the United Kingdom. The UK defense market is partly dominated by the local players and partly by the players based in the United States. The UK MoD nurtures open competition policies that seek the best defense equipment for the best value. The MoD acquires defense equipment from foreign sources when the advantages of performance, cost, and delivery schedule outweigh the benefits of buying the British alternative. Airbus SE, Lockheed Martin Corporation, BAE Systems plc, Leonardo S.p.A., and Thales Group, are some of the prominent players in the UK defense market, which are expected to hold a significant share even during the forecast period. BAE Systems is one of the prominent tier-1 suppliers for the F-35 program. Furthermore, BAE Systems is developing Tempest. Currently, a consortium consisting of the UK Ministry of Defense, BAE Systems, Rolls-Royce, Leonardo S.p.A, and MBDA is developing the aircraft and plans to induct the aircraft from 2035 replacing Eurofighter Typhoon aircraft service in the Royal Air Force and the Italian Air Force (AMI). Similar partnerships for various development and procurement programs of the government are expected to help the companies increase their share in the market in the coming years.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 UK Defense Import and Export

5 MARKET SEGMENTATION (Market Size by Value - USD billion)
5.1 Armed Force
5.1.1 Army
5.1.2 Navy
5.1.3 Air Force
5.2 Type
5.2.1 Aircraft
5.2.2 Rotorcraft
5.2.3 Ground Vehicles
5.2.4 Naval Vessels
5.2.5 C4ISR
5.2.6 Weapons and Ammunition
5.2.7 Protection and Training Equipment

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 BAE Systems plc
6.2.2 Lockheed Martin Corporation
6.2.3 Raytheon Technologies Corporation
6.2.4 Airbus SE
6.2.5 Babcock International Group PLC
6.2.6 MBDA
6.2.7 QinetiQ Group plc
6.2.8 Ultra Electronics Holdings plc
6.2.9 Northrop Grumman Corporation
6.2.10 L3Harris Technologies, Inc
6.2.11 The Boeing Company
6.2.12 Thales Group
6.2.13 Leonardo S.p.A.
6.2.14 General Dynamics Corporation
6.2.15 HENSOLDT AG

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

渋谷データカウント

渋谷データカウントは、最も信頼性が高く最新の調査分析レポートを確実に提供する経験豊富な調査専門家のグローバルチームが提供する、さまざまな業界のさまざまな市場調査レポートを提供する再販代理店です。

Recommended reports

+