United Kingdom Defense Market Outlook
According to a new report by Expert Market Research titled, “United Kingdom Defense Market Trends, Share, Analysis, Report and Forecast 2024-2032″, the United Kingdom defense market reached a value of USD 17.25 billion in 2023. Aided by the commitment to ensuring national security, upholding international peacekeeping mandates, and investing in cutting-edge military technology, the market is projected to further grow at a CAGR of 3.10% between 2024 and 2032 to reach a value of USD 20.65 billion by 2032.
The United Kingdom has always been a significant player in the global defence landscape, boasting an advanced military infrastructure that includes nuclear capabilities, a robust naval fleet, and a well-equipped ground force. An essential aspect of the UK’s defence approach is its focus on research, development, and innovation, allowing the country to maintain a military edge in various fields such as cybersecurity, aerospace, and unmanned warfare systems.
One of the main primary United Kingdom defense market trends driving the market is the increasing geopolitical tensions and emerging security threats. With rising global conflicts and the proliferation of unconventional warfare tactics like cyber-attacks, the UK has intensified its focus on creating a multi-dimensional defence strategy. The recent emphasis on cybersecurity and defence against hybrid threats is a testament to this.
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Moreover, the United Kingdom’s role as a pivotal member of NATO and its commitments to other international peacekeeping missions have necessitated a constant upgrade of its military arsenal. The nation’s commitment to meeting the NATO target of spending 2% of its GDP on defence further propels the United Kingdom defense growth.
Technological innovation remains at the forefront of the defence market. The shift towards autonomous systems, the use of artificial intelligence in warfare scenarios, and the development of state-of-the-art surveillance systems are shaping the future of defence in the UK.
Furthermore, the United Kingdom is investing heavily in its naval capabilities, with projects like the Queen Elizabeth-class aircraft carriers symbolising the nation’s maritime aspirations. Modernisation of the nuclear arsenal, with programs like the Trident nuclear deterrent, highlights the UK’s focus on a holistic defence strategy, increasing the United Kingdom defense market size.
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As warfare evolves in the digital age, the defence landscape is becoming increasingly interconnected. The United Kingdom, with its focus on integrating the domains of land, air, sea, cyber, and space, is poised to be a leader in the development of multi-domain operations. With investments in space defence and cyber capabilities, the United Kingdom defense market is likely to experience a paradigm shift in the coming years.
United Kingdom Defense Market Segmentation
The market can be divided based on armed forces and type.
Market Breakup by Armed Forces
- Army
- Navy
- Air Force
Market Breakup by Type
- Fixed-wing Aircraft
- Rotorcraft
- Ground Vehicles
- Naval Vessels
- C4ISR
- Weapons and Ammunition
- Protection and Training Equipment
- Unmanned Systems
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United Kingdom defense market. Some of the major players explored in the report by Expert Market Research are as follows:
- The Boeing Company
- Airbus SAS
- Northrop Grumman Corporation
- BAE Systems plc
- Lockheed Martin Corporation
- Raytheon Technologies Corporation
- L3Harris Technologies, Inc.
- Thales Group
- Leonardo S.p.A.
- General Dynamics United Kingdom Limited
- MBDA
- Others
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