How does the Defence Sector contribute to the wider UK economy? Access the JEDHub Annual Economic Report published today at https://jedhub.org/.
The Joint Economic Data Hub (JEDHub) is a collaborative partnership between the UK Defence Solutions Centre and the Ministry of Defence. The Annual Economic Report, published today, highlights a number of insights. These include the important contribution international business makes supporting UK defence turnover (around 40% of defence turnover in surveyed companies came from international sources in 2021); high average wages in the sector, including an 8.2% wage growth since 2020; Defence activity showed resilience during the COVID-19 pandemic, with defence turnover growing by 2.1% in the surveyed companies and that approximately 130,000 indirect jobs were supported by the 11 DGP companies in 2021.
UKDSC CEO Samira Braund commented on the publication of the report; “As the CEO of the UK Defence Solutions Centre, host of the Joint Economic Data Hub, I am excited by the publication of the second Annual Economic Report. The JEDHub team, comprising of UKDSC and MOD staff, have delivered a report with key economic insights based on impartial, objective and verifiable data, with some new and important insights building upon on last year’s report. Through these reports, we can begin to evaluate the beneficial impact of the defence sector on the wider UK economy.”
Thank you to all companies who took part in the survey including Defence Growth Partnership members: Airbus, Atkins, Babcock International Group, BAE Systems, General Dynamics, Leonardo, MBDA, QinetiQ, Raytheon, Rolls-Royce and Thales and responding companies: AACE Ltd, Atlas Elektronik UK, Apache iX, Boeing Defence UK, Capita, Centerprise Intl Holdings, Emberion, EPS Logistics Technology, Kinsetsu, L3Harris Technologies UK, Lockheed Martin UK, Marshall of Cambridge (Holdings), Planned Link, Supacat UK and Transcal Engineering.
To understand how the defence sector contributes to the wider UK economy, read the Annual Economic Report today at https://jedhub.org/.