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Press Release: UK Defence Equipment Industry Development Report

Released: April 2005

After researching the UK defence equipment industry development and taking into account various other factors the following conclusions can be drawn from MBD's report:

Industry Review 2004/5-2008/9:

In 2008/09, the Defence Department Expenditure Limits (DEL) increased by 4% to a review peak of £45.5 billion, consolidating the increases recorded in the previous four years. Between 2004/05 and 2007/08, annual levels of defence DEL oscillated between 2% and 7%. Overall, DEL increased by 19% during the five year period.

Aircraft and spacecraft accounted for the largest proportion of defence equipment expenditure, representing a significant 47% of the total in 2007/08. In the same year, spending in the sector increased by 7% to £2.1 billion. Prior to this, spending on aircraft and spacecraft declined each year between 2003/04 and 2005/06. Nonetheless, the sector increased by a cumulative 2% during the five year period

Industry Forecast 2009/10-20013/4:

The core Defence Budget to 2011 had already been set by the Labour Government prior to the General Election and MBD believe it is unlikely to be substantially altered. However, there is likely to be a prolonged period of reduced defence spending, from the fiscal year 2011/12 as the Conservative - Liberal Democrat Coalition attempts to reduce the fiscal deficit. A more detailed plan is expected to be outlined in the October 2010 Spending Review.

Note to Editors:

MBD specialises in business to business market research. The range of reports and industries in which we operate in is constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.

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