UK continues to be among the world's top arms exporters

The global defence equipment market was estimated to be worth around $98bn (£76bn) in 2017, its highest level in a decade, according to figures from the UK Department for International Trade’s Defence and Security Organisation (DSO), reflecting what it calls “ongoing strategic risks” and rising defence equipment prices.

According to DSO research, the UK held a 12% share of the international defence equipment market in 2017, while the US held a record high share of 53%. On an annual basis, Russia leads the UK, but on a 10-year basis, the UK is the world’s second-largest arms exporter, ahead of France and Russia.

Aerospace equipment exports dominate UK arms exports, accounting for 87% of total UK arms exports, while naval equipment and land weapons exports account for only 7% and 6% respectively.

According to DSO, the biggest contributors to the aerospace industry's dominance in UK arms exports are exports of components for the F-35 fighter jet, part of the world's largest defence programme in which BAE Systems holds a 15% stake, and Rolls-Royce engines for aerial refuelling aircraft sold to Germany.

The importance of the aerospace equipment export sector is demonstrated by the development program of the new generation fighter aircraft Tempest that the UK just announced at the international air show in Farnborough, with the Ministry of Defense investing 2 billion pounds in this program./.