“Countries that have traditionally been export customers for us in terms of products or services are now thinking about building up their own indigenous capability,” Phipson explains.
He cites examples of new indigenous fighter programmes in countries such as Turkey, Japan and South Korea.
So, what does this mean for UK exports?
“We [still] have a big part to play in that,” Phipson says. “There’s also a very good opportunity for our smaller companies in the supply chain…It’s about the supply chain of all the important technology going into that local market.”
Watch the video for a more detailed look.