United Kingdom (UK) Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028

United Kingdom defense market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2023-2028 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Despite significant challenges for the UK’s economy in recent years alongside domestic political polarization, the UK has committed to a steady increase in defense spending. In 2021, the Johnson administration labelled the Integrated Review of that year the ‘largest review of its kind since the Cold War’, and global events since then - particularly Russia’s full-scale invasion of Ukraine - have only solidified these commitments, reflected in the ‘Refresh’ of the review published March 2023 largely retaining the program outlined in 2021. Investments include eight new Type 26 frigates and five Type 31s, an increase in the stockpile of Trident nuclear warheads, the Future Combat Air System program for a sixth-generation fighter alongside the continued procurement of the F-35. Since the war in Ukraine, there has also been renewed attention on more fundamental warfighting capabilities: The Challenger 3 will be the Army’s new Main Battle Tank (MBT), and other procurements include a new air defense system and an ongoing search for a new self-propelled howitzer. Along with many other western countries, the UK is learning lessons about rates of attrition and consumption of supplies in modern, conventional high-intensity warfare. From 2019-23, the UK’s defense budget recorded a CAGR of 5.3%, growing from $51.1 billion to $62.8 billion. For the forecast 2024-28 period, the publisher predicts a CAGR of 4.9%, going from $66.3 billion to $80.4 billion. Despite the challenges of COVID recovery, energy insecurity and sustained inflation, British foreign policy retains ambitions and international commitments that make this sustained increase a likelihood as the British military redoubles deployments in Europe and elsewhere. Despite Brexit, the UK remains deeply tied to European and Trans-Atlantic security architecture and has increased its defense footprint in the Asia-Pacific through the AUKUS pact.

Key Highlights

• Drivers of Defense expenditure include the war in Ukraine, significant tensions with Russia, commitments to the NATO alliance and ongoing contributions to international peacekeeping and stability operations via the UN and EU.
• Major ongoing procurement programs include the acquisition of F-35B fighters, new ballistic missile submarines, an array of combat and support naval surface vessels, and the Global Combat Air Programme.

Who Should Buy

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

Scope

This report offers detailed analysis of British defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following -

• United Kingdom defense budget: detailed analysis of United Kingdom 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
• Regulation: the procurement policy and process is explained. This is coupled with an analysis of British military doctrine and strategy to provide a comprehensive overview of United Kingdom's military procurement regulation.
• Security Environment: political alliances and perceived security threats to the United Kingdom are examined; there help to explain trends in spending and modernisation.
• Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
• Competitive landscape and strategic insights: analysis of the competitive landscape of United Kingdom's defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the United Kingdom defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the British market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the British defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the British government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available