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Future of the UK Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

  • Published Date: 17 Dec 2018
  • Number of Pages: 83
  • Category: Defense
  • Country: United Kingdom
Future of the UK Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

Summary

"Future of the UK Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023", published by GlobalData, provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

This report offers detailed analysis of the UK defense industry 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 -
- The UK defense industry market size and drivers: detailed analysis of the UK defense industry during 2019-2023, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the countrys expenditure and modernization patterns
- Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country
- Import and Export Dynamics: analysis of prevalent trends in the countrys imports and exports over the last five years
- Market opportunities:list of the top ten defense investment opportunities over the next 5 years
- Competitive landscape and strategic insights: analysis of the competitive landscape of the UK defense industry.

Scope

- The country is ranked seventh globally in terms of military expenditure but has been facing constant budget cuts during the historic period in accordance with the nations aim of reducing overall expenditure.
- UK defense expenditure registered a CAGR of -3.67%, declining from US$59.3 billion in 2014 to US$51.1 billion in 2018.
- It is expected that the country will increase its defense budget to US$59.3 billion in 2023, reflecting a CAGR of 3.39% over the forecast period.

Reasons to buy

- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the UK defense industry market trends for the coming five years
- The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period
- Profiles of the top domestic and foreign defense manufacturers . This will provide the user with a total competitive landscape of the sector
- A deep qualitative analysis of the UK defense industry covering sections including demand drivers, Key Trends , and latest industry contracts.
Publisher Name : GlobalData

1. Introduction 7
1.1. What is this Report About? 7
1.2. Definitions 7
1.3. Summary Methodology 9
1.4. About GlobalData 10
2. Executive Summary 11
3. Market Attractiveness and Emerging Opportunities 13
3.1. Current Market Scenario 14
3.1.1. Military Fleet Size 14
3.1.2. Procurement Programs 19
3.1.3. Key Drivers and Challenges 21
3.2. Defense Market Size Historical and Forecast 23
3.2.1. The UKs defense budget (inclusive of Foreign economic aid, R&D Defense and Defense Network-enabled Capability [NEC]) is anticipated to increase at a CAGR of 4.33% 23
3.2.2. The UKs expenditure on defense functions (exclusive of foreign economic aid, R&D defense and defense NEC) is anticipated to increase at a CAGR of 3.39% over the forecast period 25
3.2.3. Counter-terrorism activities, procurements, and peacekeeping operations are the primary factors driving defense expenditure 27
3.2.4. Defense budget as a percentage of GDP is anticipated to decrease over the forecast period 28
3.3. Analysis of Defense Budget Allocation 30
3.3.1. More than 90% of the UKs defense budget is allocated for defense capabilities 30
3.3.2. The allocations for peacekeeping operations and foreign military aid are anticipated to cumulatively value US$2.4 billion and US$2.8 billion respectively over the forecast period 32
3.3.3. Expenditure on defense capability is expected to grow at a CAGR of 3.32% over the forecast period 34
3.3.4. The allocation towards capital expenditure will remain constant 36
3.3.5. Capital expenditure is anticipated to record CAGR of 5.19% over the forecast period 38
3.3.6. Per capita defense expenditure to increase over the forecast period 40
3.4. Homeland Security Market Size and Forecast 41
3.4.1. The Homeland Security market in UK is expected to grow at a CAGR of 1.73% over the forecast period 41
3.4.2. Border security and cyber-security will be the key drivers for homeland security 43
3.4.3. The UK is highly affected by terrorist activities 44
3.4.4. The UK faces a high risk of terrorist attack 45
3.4.5. The UK faces a substantial threat from terrorist organizations 47
3.5. Benchmarking with Key Global Markets 48
3.5.1. The UK ranks among major Global Defense Markets 48
3.5.2. The UK is expected to be among the top 10 defense spending countries in the world 50
3.5.3. The UK allocates a significant percentage of GDP towards defense 51
3.6. Market Opportunities: Key Trends and Growth Stimulators 52
3.6.1. Top 10 Defense market sectors by value (US$ Million) - Projections over period 2018-2023 52
4. Defense Procurement Market Dynamics 53
4.1. Import Market Dynamics 54
4.1.1. Defense imports are expected to remain consistent with the historic trends 54
4.1.2. The US is the leading arms exporter to UK, a trend expected to continue in the coming years 55
4.1.3. Aircraft, Missiles, and Engines account for more than three-quarters of UK arms imports 56
4.2. Export Market Dynamics 57
4.2.1. UK Defense Exports are anticipated to increase over the historic period 57
4.2.2. Saudi Arabia, Oman, and Indonesia are the main buyers of UK defense exports 58
4.2.3. Aircraft make up the majority of the UKs defense exports 59
5. Industry Dynamics 60
6. Market Entry Strategy 60
6.1. Market Regulation 60
6.1.1. Offset policy discarded in order to maintain competitiveness of domestic suppliers 60
6.1.2. The UK permits 100% FDI in its defense industry 60
6.1.3. Government initiatives to boost the defense industry 61
6.2. Market Entry Route 61
6.2.1. Budgeting Process 61
6.2.2. Procurement Policy and Process 62
6.2.3. Joint weapons development programs are a viable market entry opportunity 63
6.2.4. Joint ventures open up new market entry strategy choices 64
6.2.5. Forming subsidiaries in the UK and the acquisition of domestic companies provide good market entry opportunities 64
6.2.6. Procurement Policy and Process 64
7. Competitive landscape and Strategic Insights 65
7.1. Competitive landscape Overview 65
8. Business Environment and Country Risk 67
8.1. Economic Performance 67
8.1.1. Gross Domestic Product Per Capita 67
8.1.2. Gross Domestic Product at Current Price US$ 68
8.1.3. Exports of goods and services, current prices 69
8.1.4. Imports of goods and services, current prices 70
8.1.5. Gross National Disposable Income, current prices 71
8.1.6. Local Currency Unit per US$, Period Average 72
8.1.7. Market Capitalization of Listed Companies (US$ Billion) 73
8.1.8. Market Capitalization of Listed Companies (% GDP) 74
8.1.9. Government Cash Surplus/Deficit, as a Percentage of GDP (LCU) 75
8.1.10. Goods Exports as % of GDP 76
8.1.11. Goods Imports as % of GDP 77
8.1.12. Services Imports as a % of GDP 78
8.1.13. Services Exports as a % of GDP 79
8.1.14. Foreign Direct Investment, BoP, Current Values in US$ Billion 80
8.1.15. Net Foreign Direct Investment as a % of GDP 81
8.1.16. Mining, Manufacturing, Utilities Output 82
9. Appendix 83
9.1. About GlobalData 83
9.2. Disclaimer 83

List Of Tables


Table 1: The UK Army Strength 14
Table 2: The UK Air Force Strength 16
Table 3: The UK Navy Strength 18
Table 4: The UK- Ongoing Development and Procurement Programs 19
Table 5: The UK- Ongoing Development and Procurement Programs 20
Table 6: UK Defense Budget (GBP Billion & US$ Billion), 2014-2023 23
Table 7: UK Defense Expenditure (GBP Billion & US$ Billion), 2014-2023 25
Table 8: UK Defense Expenditure (GBP Billion & US$ Billion), 2014-2023 28
Table 9: UK Defense Budget Allocation (%), 2014-2023 30
Table 10: UK Peacekeeping Services Budget and Foreign Military Aid (US$ Billion), 2014-2023 32
Table 11: UK Defense Capability Budget (GBP Billion & US$ Billion), 2014-2023 34
Table 12: UK Defense Budget Split between Capital and Revenue Expenditure (%), 2014-2023 36
Table 13: Capital Expenditure (GBP Billion and US$ Billion), 2014-2023 38
Table 14: UK - Per Capita Defense Expenditure (US$), 2014-2023 40
Table 15: UK Homeland Security Expenditure (GBP Billion & US$ Billion), 2014-2023 41
Table 16: Terrorism Index,2018 45
Table 17: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023 48
Table 18: Top 10 UK Defense Market Sectors by Value (US$ Million) - 2018-2023 52
Table 19: The UK Budget Formation Timetable 61
Table 20: UKs Participation in International Defense Development Programs 63
Table 21: Competitive Landscape of the UK Defense Industry 65

List Of Figures


Figure 1: UK Defense Budget (GBP Billion), 2014-2023 24
Figure 2: UK Defense Budget (US$ Billion), 2014-2023 24
Figure 3: UK Defense Expenditure (GBP Billion), 2014-2023 26
Figure 4: UK Defense Expenditure (US$ Billion), 2014-2023 26
Figure 5: UK GDP Growth vs. Defense Expenditure as Percentage of GDP Growth, 2014-2023 29
Figure 6:UK Defense Expenditure Allocations (%), 2014-2023 31
Figure 7: UK Peacekeeping Services Budget (US$ Billion), 2014-2023 33
Figure 8: UK Foreign Military Aid Budget (US$ Billion), 2014-2023 33
Figure 9: UK Defense Capability Budget (GBP Billion), 2014-2023 35
Figure 10: UK Defense Capability Budget (US$ Billion), 2014-2023 35
Figure 11: UK Defense Budget Split between Capital and Revenue Expenditure (%), 2014-2023 37
Figure 12: Capital Expenditure (GBP Billion), 2014-2023 39
Figure 13: Capital Expenditure (US$ Billion), 2014-2023 39
Figure 14: UK - Per Capita Defense Expenditure (US$), 2014-2023 40
Figure 15: UK Homeland Security Expenditure (GBP Billion), 2014-2023 42
Figure 16: UK Homeland Security Expenditure (US$ Billion), 2014-2023 42
Figure 17: Terrorism Heat Map, 2018 44
Figure 18: Terrorism Index, 2018 47
Figure 19: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023 49
Figure 20: Defense Expenditure of the Worlds Largest Military Spenders (US$ Billion), 2018 and 2023 50
Figure 21: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2017 51
Figure 22: UK Defense Imports 2013-2017 54
Figure 23: UK Defense Imports by Country (%), 2013-2017 55
Figure 24: UK Defense Imports by Category (%), 2013-2017 56
Figure 25: UK Defense Exports 2013-2017 57
Figure 26: The UKs Defense Exports by Country (%), 2013-2017 58
Figure 27: UK Defense Exports by Category (%), 2013-2017 59
Figure 28: UK GDP Per Capita, 2015-2025 67
Figure 29: UK GDP (in US$ Billion) , 2015-2025 68
Figure 30: UK Exports of goods, (LCU Billion), 2005-2014 69
Figure 31: UK Imports of goods and services (LCU Billion), 2005-2014 70
Figure 32: UK Gross National Disposable Income, current prices (US$ Billion), 2005-2012 71
Figure 33: UK GBP per US$, 2015-2024 72
Figure 34: UK Market Capitalization of listed companies (US$ Billion), 2005-2012 73
Figure 35: UK Market Capitalization of listed companies(%GDP), 2005-2012 74
Figure 36: UK Government Cash surplus/deficit (LCU Billion), 2005-2012 75
Figure 37: UK Goods exports as % of GDP, 2005-2014 76
Figure 38: UK Goods imports as % of GDP, 2005-2014 77
Figure 39: UK Services Imports as a % of GDP, 2005-2014 78
Figure 40: UK Services exports as a % of GDP, 2005-2014 79
Figure 41: UK FDI, net (BoP, Current US$ Billion), 2005-2014 80
Figure 42: UK Net FDI as a % of GDP, 2005-2014 81
Figure 43: UK Mining, manufacturing and Utilities Output (US$ Billion), 2005-2014 82

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