The weapons and ammunition production value in the UK showed fluctuations between 2013 and 2023, settling at 3.2 billion euros in 2023. The most significant year-on-year changes occurred in 2016 and 2020, with declines of 13.28% and 5.38%, respectively. Over the last 5 years, the CAGR averaged -0.5%, indicating a slight downward trend. Forecasted data from 2024 to 2028 suggests a steady decline in production value with a forecast 5-year CAGR of -0.31% and an overall negative growth rate of -1.54% by 2028.
Future trends to watch for include the potential impact of geopolitical tensions, technological advancements in weapons systems, and shifting defense budgets which could either mitigate or exacerbate the forecasted decline in production value.
