The global defence export market is estimated to have increased to approximately $100 billion in 2018, the biggest it has been in the past decade. It is a significant total given the impact of global economic uncertainties post-2014, including volatility in oil prices and currency devaluations.
The increasing global defence export market total reflects both ongoing strategic threats and uncertainties and rising prices. Despite fiscal constraints, defence expenditure has been heavily augmented by off-budget funding, though some projects have been delayed.
UK defence exports rose to a record £14 billion in 2018, up from £9 billion in 2017. This strong performance has led to the UK reclaiming its place as the second-largest defence exporter globally, behind only the United States.
Exporting Knowledge Transfer Zone
Supported by UK Defence and Security Exports and US Department of Defense, the Exporting Knowledge Transfer Zone will provide visitors with specialist export advice and practical assistance, enabled through UK Defence and Security Exports and its close working relationship the Ministry of Defence and Export Control Organisation.
US DOD will be returning to DPRTE this year, and once again delivering a series of sessions designed to provide advice and guidance on how to access the wealth of opportunities available within the world’s largest defence procurement marketplace.
The UK is the second largest global defence exporter, commanding approximately 12% of the export market, according to UK Defence and Security Exports statistics.
The Exporting Pavilion, supported by UK Defence and Security Exports, will allow delegates to meet with representatives from some of the largest overseas defence markets, with a view to exporting products or services. Learn more about how your organisation can gain a share of this marketplace worth around £9 billion.