UK Defense Industry Witnessed Steady Budget Cuts during 2013-2017, Informs SDI in Its New Topical Report Recently Added at MarketPublishers.com19 Jan 2018 • by Natalie Aster
LONDON – At present, the UK is in the process of restructurisation of its armed forces and also armed forces personnel with the view to reorient its military into a small but agile force that continues to fulfill its standing commitments. The country is an active member of NATO, that serves as the bedrock of the national defense policy.
The UK ranks the 7th globally regarding military expenditure. However, during the past recent years the country has been facing steady budget cuts in accordance with the nation’s aim to reduce overall expenditure. From 2013 to 2017, the country’s defense expenditure exhibited a -4.49% CAGR and decreased from USD 57.9 billion to USD 48.2 billion.
Revenue expenditure grabs for the biggest share of the defense budget in the UK, with an average allocation of appr. 77.1% and the remaining 22.9% for capital expenditure over 2013-2017.
The homeland security expenditure, maintaining law and order, and spending on internal security, prisons, judiciary and other related activities in the UK together were evaluated at USD 23.3 billion in the year 2013; it declined at a -11.45% CAGR during 2013-2017 and reached USD 14.3 billion in 2017.
The new topical report “The Future of the UK Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022” drawn up by Strategic Defence Intelligence (SDI) offers a detailed analysis of the defense industry in the UK, covering the historical and present performance, landscape, dynamics, regulative framework, competitive landscape, etc. Besides, this study highlights the key factors responsible for the market growth, evaluates the market attractiveness, discloses important statistics as well as discusses the emerging growth challenges and opportunities. Moreover, this publication contains an all-round overview of the UK defense expenditure and modernisation patterns, touches upon the country’s defense budget allocation, contains Porter’s five force analysis, highlights imports and exports dynamics, offers data on the leading players in the UK defense market with details on the key strategic initiatives, alliances and financial performance. Additionally, this report offers future forecasts through to 2022.
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