BAE Systems, on behalf of Team Tempest partners, commissioned PwC to carry out an independent analysis of the economic impact of the Tempest programme. The full report is due for publication before the end of the year.
Today’s announcements illustrate the wider economic, skills and technology benefit to the UK. In July seven further companies signed agreements to progress opportunities to work on future combat air concepts and underpinning technologies across Team Tempest – including Bombardier Belfast, Collins Aerospace in the UK, GE Aviation UK, GKN Aerospace, Martin-Baker, QinetiQ, and Thales UK.
1 The draft report referenced was prepared only for BAE Systems (Operations) Limited and solely for the purpose and on the terms agreed with BAE Systems (Operations) Limited. PricewaterhouseCoopers LLP accepts no liability (including for negligence) to anyone else in connection with the draft report. Any content that is referenced from the draft report is subject to change between now and the issue of the final version to BAE Systems (Operations) Limited.
2 Figures presented in NPV (net present value) terms in 2019 basis. The estimates have been discounted by the social time preference rate of 3.5% as recommended in HM Treasury’s Green Book.
3 R&D Spillover: A positive consequence of research and development applied to sectors beyond which it was developed for, which has benefits to the wider economy.
4 Figures presented in GVA (gross value added). GVA is a measure in economics of the value of goods and services produced in an area, industry or sector of an economy.