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Defence spending

Defence Sector in Gwent Receives Boost from UK Government Funding

Strategic Insights

— 1 min read

The UK Government has invested in the defence sector across the country, pouring £250 million into "defence growth deals" designed to support the UK's defence sector. This move is part of the government's increased defence spending aimed at reaching 2.6% of GDP. Wales is set to benefit from this investment, with a Gwent firm specializing in drone technology leading the way. Drone Evolution, based in Caerphilly, is one company set to receive the funds, which will be used to support research and development, creating new job opportunities.

Key Takeaways:

  • The UK Government has invested £250 million in "defence growth deals" to support the UK's defence sector, with Wales set to receive a share of the funds.
  • The investment is part of the government's increased defence spending aimed at reaching 2.6% of GDP.
  • Drone Evolution, a Gwent-based company specializing in drone technology, is set to benefit from the funding, creating new job opportunities in the sector.
  • The defence sector in Wales supports more than 20,000 jobs, with hundreds of people working in the sector in Gwent alone.
  • The government's investment in the defence sector is expected to boost job creation, particularly in deprived areas of South Wales and the Valleys.
  • Drone Evolution has already seen success in utilizing drone technology, including surveying coal tips across Wales to ensure safety as part of a £141 million government-funded program.

Statistics:

  • £250 million: The amount of funding invested in "defence growth deals" by the UK Government.
  • 2.6%: The government's target for defence spending as a percentage of GDP.
  • 20,000+: The number of jobs supported by the defence sector in Wales.
  • £141 million: The amount of government funding allocated to support coal tip safety program.
  • Hundreds: The number of people employed in the defence sector in Gwent, working at companies such as Airbus Defence and Space, General Dynamics, Axiom, and more.
  • 41: The age of Adam Burnman, a technical operator for Drone Evolution, who has been positively impacted by the company's employability program.

Sources:

  • Chloe Atkinson, THE defence sector in Gwent has been given a boost as part of the UK Government's drive to increase spending in the sector.

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https://www.argus.co.uk

&Mary-Ann Cunningham

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