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UK's High Military Spending Attracts Stakeholders in the Land Defence Market Reports Frost & Sullivan - The United Kingdom has clinched the fourth spot on the list of the top military spenders with an expenditure of $58.30 billion in 2009, which translates to 3.8 per cent of the global share
UK's High Military Spending Attracts Stakeholders in the Land Defence Market Reports Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2011/03/08 - The United Kingdom has clinched the fourth spot on the list of the top military spenders with an expenditure of $58.30 billion in 2009, which translates to 3.8 per cent of the global share.

   
 
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As a North Atlantic Treaty Organisation (NATO) member, the United Kingdom is expected to channel at least 2 per cent of its gross domestic product towards defence, making it a viable market for stakeholders in the land defence market.

New analysis from Frost & Sullivan (aerospace.frost.com), Revenue Opportunities and Stakeholder Mapping in the United Kingdom Land Defence Market, finds that the U.K. land defence market generated $834 million in 2010 and is expected to reach $1.50 billion in 2017.

The UK's crucial role in the major global conflicts in Iraq and Afghanistan has exposed the gap between its cold war era capabilities and its readiness to counter contemporary threats. The UK land defence domain witnessed significant procurements as result of urgent operations requirements (UOR). While the Government has acknowledged the need to modernize fleets and has expressed interest in ramping up its arsenal, the current economic situation and budget deficits have delayed most of the planned modernisation programs.

"As a conscious measure to avoid the drawbacks of downsizing, the armed forces are being equipped with advanced equipment," says Frost & Sullivan Research Analyst Mahendran Arjunraja. "The increasing involvement in high-intensity operations and lessons learned from the recent conflicts would push the country to deploy advanced and more efficient equipment."

Furthermore, the Government has commissioned a Strategic Defence and Security Review (SDSR), 12 years after the last one, to determine the future capabilities and size of the country's land defence forces. While military downsizing is apparent in all domains of the defence forces, the army is expected to be the least affected due to the current operational commitments, while the navy and air force will keenly feel the impact of the SDSR.

The gradual shift from UOR to planned modernisation programs in the land defence domain is expected to boost the market from 2013. Hence, defence companies catering to UOR at present should slowly start gravitating towards the upcoming modernization programs and identify possible market opportunities.

In future, the number of ground formations in the U.K. army is expected to nosedive. This will invariably have significant repercussions on the procurement volumes. In such a scenario, the domestic defence companies will not be able to benefit from economies of scale, unless they supplement their order book with foreign sales or innovate in-house. Defence companies must ensure low-cost offerings since absolute cost of equipment will be one of the primary purchase factors.

"Absolute cost, sustainability and life time support are the future procurement priorities of the Ministry of Defence (MoD)," notes Mahendran Arjunraja. "Capabilities such as autonomous systems, sensors, cyber and space are likely to be the focus of future investments."

For more information on this study, please send your complete contact details to Joanna Lewandowska, Corporate Communications, at joanna.lewandowska[.]frost.com.

Revenue Opportunities and Stakeholder Mapping in the United Kingdom Land Defence Market is part of the Defence Growth Partnership Services program, which also includes research in the following markets: Malaysian Military Communications Market - Revenue Opportunities and Stakeholder Mapping, Australian Air Defense Programs Market - Revenue Opportunities and Stakeholder Mapping, European Vehicle Survivability Market Assessment, U.S. Military Tactical Vehicles Market.

All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

Revenue Opportunities and Stakeholder Mapping in the United Kingdom Land Defence Market / M66D-16

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UK's High Military Spending Attracts Stakeholders in the Land Defence Market Reports Frost & Sullivan

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