A £38 million collaboration between the UK government and Lockheed Martin will see them working together to identify new opportunities to generate value to both the country and the company.The Prosperity Framework involves the exploitation of innovative ideas and technologies, strengthening the supply chains and supporting the development of the advanced manufacturing and technology sectors.
The collaboration 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 an investment of £38 million from Lockheed Martin, it will identify further opportunities in the defence and commercial sectors.
“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,” said Defence Minister Guto Bebb.
As a partner in the UK Defence for almost 80 years, Lockheed Martin adds £1 billion to the economy every year, supporting 1,000 suppliers and 10,000 jobs. On its part, the government provides the company with its second largest international market, both benefiting from this partnership and working together to make it grow.
“We greatly value our partnership and see this agreement as a way to strengthen our relationship and help the UK to prosper,” said Rick Edwards, executive vice president for Lockheed Martin International. “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.”