U.K. Ranks as 2nd-Largest Arms Exporter on Middle East Sales

(Bloomberg) -- The U.K. won defense orders worth 11 billion pounds ($14.2 billion) in 2019, keeping its place as the world's largest exporter after the U.S.

The year was Britain's second-best ever, behind a record 14 billion pounds won in 2018, according to figures from the Department for International Trade. The country's market share was about 16%, compared with 47% for the U.S., while Russia and France follow with 11% and 10% respectively.

U.K. business remained strong “despite no major platform orders in 2019,” the state department said. Major orders in the past decade have included Eurofighter Typhoon aircraft built by BAE Systems Plc and the Lockheed Martin F-35 Joint Strike Fighter, for which the U.K. firm makes the tail, real fuselage and electronic warfare systems.

Many aerospace companies are looking to boost their military business as the Covid-19 pandemic hits demand for commercial aircraft. Companies focused on defense like BAE, Europe's biggest armaments firm, have held up better than the likes of Airbus SE and Rolls-Royce Holdings Plc.

The global defense export market decreased to $89 billion in 2019 from $100 billion in 2018, according to the report. The industry experiences “peaks and troughs” in response to fluctuating spending on defense, threat perception and national requirements.

The U.K. continues to export most of its weapons to the Middle East, with Europe and North America the next largest markets.

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