Under a new Prosperity Framework, the UK Government and
Lockheed Martin will work together to identify new
opportunities to generate value to the UK and to Lockheed
Martin. The Framework will work on the creation and
exploitation of innovative ideas and technologies;
strengthening supply chains; and supporting the development
of the advanced manufacturing and technology sectors. This
will bring considerable benefits to the wider defence,
aerospace and space sectors of the UK economy, creating and
sustaining high-level technology jobs and skills in key
industries.
Supported by investment of £38 million from Lockheed
Martin, opportunities for potential collaboration will be
identified across defence and commercial sectors including
in autonomous systems, space, artificial intelligence,
cyber security, electronic warfare and underwater
technologies.
Defence Minister said:
Lockheed Martin’s commitment clearly demonstrates how
they view the UK as a top country to work with, with our
world-class defence industry, supported by powerhouse
universities and a wealth of high-tech and innovative
small businesses.
As we look to our post-Brexit future, it is crucial that
we create, develop and strengthen our relations with
international partners across defence. Foreign investment
in defence stimulates robust growth across a host of
sectors in the British economy so this should be at the
forefront of our international aspirations.
Lockheed Martin has been a partner in UK Defence for almost
80 years and currently adds £1 billion to the economy every
year, supporting 1,000 suppliers (75% of which are SMEs)
and 10,000 jobs. This mutually beneficial relationship
provides the company with its second largest international
market. Both the government and Lockheed Martin want this
partnership to grow from strength to strength.
Rick Edwards, Executive Vice President for Lockheed Martin
International said:
We greatly value our partnership and see this agreement
as a way to strengthen our relationship and help the UK
to prosper. Our expertise in developing new technology
like autonomous systems and exploring new frontiers like
space will be invaluable in helping the UK to be a world
leader in defence and aerospace.
Minister for Investment, said:
This partnership with Lockheed Martin, a major global
defence company, is great news for the UK, and further
reinforcement of this country’s position both as the
European leader in technology and the number one foreign
direct investment destination across the EU.
This is a vote of confidence in the UK’s R&D
capabilities, its innovative companies and a fantastic
commitment from Lockheed Martin to support the
development and expansion of their UK supply chain. It is
also good news for current and future jobs in the sector
whilst ensuring the UK can continue to develop its world
leading defence and aerospace industries.
Phillip Dunne’s independent review of the prosperity
benefits that flow from defence, reinforced the importance
of building strong relationships with companies such as
Lockheed Martin. This Framework will drive growth and
investment in the UK and develop technologies and
capabilities which can be exploited for the benefit of
defence, the 500,000 jobs it supports, and for the broader
UK economy.
Initial objectives for the Prosperity Framework include:
- Activities to assist UK companies to understand
Lockheed Martin’s business, and technology roadmaps,
enabling them to contribute to Lockheed Martin programmes
worldwide.
- Activities to improve the performance, resilience and
competitiveness of UK supply chains, which will inform
Government’s wider business and supply chain improvement
initiatives.
- Building on Lockheed Martin’s work with the UK Space
Agency and £13 million investment to develop launch and
small satellite capabilities.
- Growth of the UK investment pipeline for LM Ventures,
Lockheed Martin’s $200 million venture capital fund.
