The most recent UK defence in numbers (updated 2 March 2020) has revealed that the Government is investing an additional £2.2 billion in Defence.
This additional funding will ensure that the UK continues to exceed the NATO guideline that member states spend 2% of GDP on Defence and cements the UK’s position as the leading European ally in NATO, remaining, by far, the largest NATO defence spender in Europe.
Defence Budget 2020/21
The Ministry of Defence has a £39 billion budget in 2019/20 and, with the additional funding announced as part of the government 2019 Spending Round, this will rise to almost £41.5 billion in 2020/21.
The Rt Hon Ben Wallace MP, Secretary of State for Defence, stated within the UK defence in numbers report that:
“The sector directly supports more than 100,000 jobs across the four nations of the United Kingdom and many more in the supply chain. It is expert in everything from shipbuilding and armoured vehicles to missiles and aerospace. And that it is the 2nd largest defence exporter in the world.”
The document also confirms long-term spending plans. Planned Expenditure on Equipment and Support between 2019 and 2029 includes:
- Submarines £46.7 billion
- Information Systems and Services £24.0 billion
- Land Equipment £19.5 billion
- Ships £19.3 billion
- Air Support £18.4 billion
- Combat Air £17.1 billion
- Weapons £14.7 billion
- Intelligence, Surveillance, Target Acquisition and Reconnaissance £5.7 billion
Investment in Innovation
The report has also revealed that the Ministry of Defence has funded 228 proposals worth £36 million through the Defence and Security Accelerator (DASA). The MOD has also funded 70 projects worth £17 million through the Defence Innovation fund.
The MOD wants to encourage innovation and attract new and non-traditional suppliers, including SMEs, at all levels of the supply chain.
Using intelligence and insight is pivotal to improving your win rate with buyers, and by demonstrating your business’s commitment to innovation you could increase your competitive advantage.
Defence Intelligence – your key to success
Our defence intelligence service streamlines the search for MOD contracts, saving suppliers in this marketplace time, resource and money and thereby facilitating maximum return on investment.
Early engagement is crucial to winning MOD contracts – knowledge is power. DCI supplies users with a wide range of data and insight from market news through to spend data and advanced notice of framework renewals.
Learn more about how your business can access key decision makers, bidders and influencers with our suite of defence intelligence tools.
