General Dynamics [GD] UK yesterday said it recently commissioned a market study that estimated the Specialist Vehicle (SV) program it is working on has the potential to generate U.K. export revenues of $2 billion or more in its first 16 years.
The estimate is based on countries that have already expressed interest in buying the SV.
Additionally, a number of foreign nations currently use the aging U.K.-developed tracked reconnaissance combat vehicle (CVR(T)) family of armored fighting vehicles first designed in the 1960s. Many of these countries have historically chosen to procure the same vehicles used by the British Army and the study assumes the SV is likely to be of interest to those nations as they update their current fleets.
The study, conducted by the Ernst & Young, also indicates that the final export value of the SV program could be larger as more countries are expected to replace their tracked combat reconnaissance vehicle fleets at some point during the 30-year SV program.
Sandy Wilson, president and managing director of General Dynamics UK, said, “Exports are a core part of this Government’s approach to major procurements as highlighted in its White Paper last week. Not only can exports of SV deliver significant return on investment to the public purse, but they can also facilitate strong ties between the U.K and its overseas partners. To make this valuable export potential a reality, however, the SV program will need to be successfully procured on behalf of the British Army.”