In 2023, the UK Defence Budget on R&D was at 9.34% of Total GBARD. Forecast data indicates a declining trend from 2024, starting at 8.67% and decreasing annually to 5.57% by 2028. This reflects a consistent year-on-year reduction, with a projected five-year CAGR of approximately -8.3%. Over the last two years, the downward trend suggests a strategic shift in defense spending priorities.
Future trends to watch for include:
- Potential reallocation of funds towards other defense areas or sectors.
- Impact of geopolitical changes on defense expenditure.
- Technological advancements influencing defense R&D spending needs.
