The defence industry also plays a key role in the economies across the globe.
From the UK’s perspective, it makes a huge contribution across all regions of the UK whether as a major employer, a large investor, or a hub for local communities.
Figures reveal that 500,000 people work either directly or indirectly in defence and over 25,500 apprentices are developing skills within the industry. In addition to the Ministry of Defence’s budget of almost £37 billion, defence’s direct contribution to GDP features on average over £7 billion of exports generated each year.
What is the MOD spending on?
Did you know that spending on equipment and support accounts for roughly 40% of the Ministry of Defence budget?
The UK Ministry of Defence (MOD) delegates the bulk of its equipment and support budget to the military commands. Defence Equipment and Support (DE&S) does not hold the budget for the equipment procurement and equipment support plans – its responsibility is to deliver against these.
Your business can gain sight of what DE&S is spending when the Annual Report and Accounts for DE&S are released every 12 months. However, with DCI you can find defence contracts and access this kind of information now in real time using our Spend Analysis and Archive Data tools.
How can Spend Analysis support your business?
Our Spend Analysis tool collates and publishes all UK defence sector and public sector spend data.
DCI customers can gain access to the latest spend figures from DE&S and the MOD as the contracts are awarded – ahead of industry competitors.
With our Spend Analysis tool uses can:
- Evaluate current and potential marketplace opportunities
- Identify buyer spend patterns – where they spend, with whom, on what and in which sectors
- View and analyse spend at buyer, industry sector, geography, and supplier levels
- Search and compare spend patterns by specific buyers and suppliers
- Identify potential new business opportunities and areas for growth
- Track known competitors and discover new market entrants
- Develop their positioning and strategy through deeper marketplace insight
Know what the defence sector is spending on – and with whom
Our latest Spend Analysis factsheet brought to you by Defence Contracts International details defence spending across the UK.
Discover how the UK defence sector is hitting its numbers and to learn more about our innovative Spend Analysis tool.