Breaking News: Convicted Boston Marathon bomber Tsarnaev will seek a new trial

Britain's defense exports grow

June 20, 2013 at 4:36 PM

LONDON, June 20 (UPI) -- Britain's defense exports grew by more than $13.7 billion over the past year, an increase of 62 percent over 2011.

The UK Trade & Investment's Defense and Security Organization said Thursday the result is that Britain remains the second most successful defense exporter after the United States.

"This is welcome news for the UK Defense Industry, and demonstrates that they remain world leaders in an increasingly competitive global marketplace," Minister for Defense, Equipment Support and Technology Philip Dunne said. "The Ministry of Defense has continued to play a key supporting role in the promotion of defense equipment and services, recognizing that defense exports make a significant contribution to the government's growth agenda."

"These results also demonstrate the high regard in which our Armed Forces, and the equipment they use, are held by our allies and partner nations overseas."

According to the report, Britain's Typhoon and Hawk aircraft programs were significant contributors to the results.

Britain currently claims about 20 percent of the world defense export market and aims for 5 percent increase in share by 2015.

Combined defense and security exports last year were worth nearly $17.9 billion.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
B-52 bombers demo long reach of U.S. air power
Reddit CEO Ellen Pao offers to improve communication in wake of firing scandal
Army orders tactical trucks from Oshkosh
Report: Brazil's Petrobras wading dark waters
Oil markets hammered by Greece, Iran and China