United Kingdom Defence & Security Report Q1 2015 - New Market Report
New Defense market report from Business Monitor International: "United Kingdom Defence & Security Report Q1 2015"
[ClickPress, Mon Jan 19 2015] BMI expects the UK to spend up to USD75.3bn in 2015, up slightly from the estimated USD73.9bn expenditure of 2014. On average, between 2011 and 2014, the UK spent USD66.9bn annually on defence. For the duration of the forecast period, up to and including 2019, we expect the UK to spend an average of USD83.7bn on defence annually, with the budget increasing to USD92.1bn in 2019.
Our anticipated UK defence spending trends are significant as they show that the UK defence sector is once again growing after a period of contraction, in line with government initiatives to curb public spending. The London-based Royal United Services Institute (RUSI) warned in a report published in early September 2014 that the UK would miss key defence spending targets in 2015/16. In particular, the report warned that the UK could see the proportion of its GDP which it allocates to defence reducing to around 1.88% in 2015/16. Currently, only four of NATO's members routinely maintain defence spending above two percent of their GDP.
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We have given the UK an overall Security Risk Index score of 87 for Q115. On average, the UK has scored an overall Security Risk Index score of 85 for the period January 2007 to Q115. We believe that the UK has a low risk of becoming involved in a major interstate conflict, although it has a slightly higher risk of experiencing a major terrorist attack. That said, we calculate that the UK has a low risk of experiencing major criminal activity.
As of late-November 2014, the UK government is to publish a new draft counter-terrorism bill. Many of its proposals are seen as a reaction to the growing threat which it is perceived that the UK is facing regarding British citizens either leaving to fight for, or returning from fighting with, the Islamic State of Iraq and Syria (ISIS) militia in Syria and Iraq. Abroad, the United Kingdom commenced military operations against the IISIS in Q414. Although Royal Air Force Tornado GR4/4A strike aircraft have performed...
The United Kingdom Defence & Security Report features Business Monitor International (BMI)'s independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.
BMI's United Kingdom Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the British defence and security industry.
* Benchmark BMI's independent defence and security industry forecasts on United Kingdom to test other views - a key input for successful budgetary and strategic business planning in the British defence and security market.
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