UK defence firms plan to invest £19.75bn over the next year
UK defence companies plan to invest a combined £19.75bn over the next 12 months, according to new research from law firm White & Case.
Research company Censuswide surveyed 250 senior decision-makers at UK defence companies and defence technology start-ups for the study between 17 and 24 September. The £19.75bn is the total for those 250 firms, which plan to invest an average of £79m each.
Most expect to spend heavily. More than a quarter (27%) plan to invest over £100m, while another 67% expect to spend between £50m and £100m.
Staying competitive was the most common reason, cited by half of the firms. Demand for next-generation defence technology (42%), export opportunities (38%) and rising government defence spending (33%) followed.
Just over half of the companies (56%) plan to invest in defence technology. Among them, 46% want to develop new technologies and 44% want to increase production. Cybersecurity was their top...
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