UK MILITARY AVIATION MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The CAGR for the UK military aviation market is predicted to be -0.82%. The United Kingdom plans to modernise its armed forces by acquiring cutting-edge military platforms in order to be ready for future threats, according to the recently issued Defence Equipment Plan for 2021-2031. The nation intends to invest USD 321 billion in the purchase and maintenance of equipment over the ensuing ten years, starting in 2021. To accomplish this, the nation is giving its military a substantial amount of funding. Out of all government spending, the defence budget for 2021 was USD 68.37 billion, an increase of 13% over 2020. 

Increased military investment in the UK is motivating the purchase of modern aircraft, which could improve aviation capabilities. In addition, the United Kingdom placed a Future Combat Air System order for 123 fixed-wing aircraft, including 114 F-35B combat aircraft, to replace the nation's Eurofighter Typhoon fleet. Additionally, the nation bought three E-7A special mission aircraft, two P-8A Poseidon, and two Airbus A400M transport planes. 

Major Players: Airbus SE, BAE systems, Lockheed Martin Corporation, MD Helicopters LLC. and The Boeing Company


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