Key Market Indicators
The export of British weaponry is projected to hit approximately $1.18 billion by 2028, up from around $1.13 billion in 2023. This marks an average annual growth rate of 0.7%. Historical data shows a significant surge in British weapon exports, with an annual increase of 10.6% since 1965. On the import side, British weapon imports are expected to reach about $925 million by 2028, rising from $823 million in 2023. This represents an average annual growth rate of 1.9%. Since 1965, the demand for weapons in the UK has grown by 9.7% annually. In 2023, the UK ranked ninth globally for weapon imports, with the United States leading the list at the same figure of $823 million. Qatar, Saudi Arabia, and Kuwait followed in the second, third, and fourth positions, respectively.
