Britain captures a fifth of global defence market
Summary: British defence exports increased by 62% in 2012 to £8.8 billion, the largest increase for five years, seeing Britain now securing 20% of the global defence market.
UK Trade & Investment (UKTI) has announced that UK defence exports outperformed the 45% growth of the wider market, with Britain remaining the second largest defence exporter after the USA.
Orders contributing to the results included Typhoon and Hawk aircraft. The Typhoon fighter programme alone supported an estimated 8600 jobs in the UK, with a further 1500 jobs dependent on export opportunities.
UK exports in the security sector also increased by 4% last year to £2.7 billion.
Business Minister Michael Fallon said: “Defence exports are helping to safeguard much-needed high-quality jobs in UK industry at a difficult time for the economy and these robust figures demonstrate Britain’s ability to successfully compete in the global race.
“These export results reflect the importance of the high technology sector and its contribution to advanced manufacturing trade. The UK’s defence industrial base is rich in innovation, largely thanks to the vital contribution of smaller firms.”
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