Senior defence industry leader Steve Wadey has been named as the co-chair of the Defence Growth Partnership (DGP) – a new partnership between industry and government.
Business Minister Michael Fallon, who will also be co-chair of the DGP, announced Mr Wadey’s appointment as he underlined the importance of the defence industry to the UK economy.
Mr Wadey is UK Managing Director of missile systems company MBDA, a multi-national group with over 10,000 employees in the United Kingdom, France, Italy, Germany, Spain and the United States. He is also Executive Group Director Technical for the MBDA Group.
The UK’s defence industry is a significant contributor to the UK’s economy, contributing more than £22 billion of annual revenues of which £5.4 billion is from exports. It directly employs more than 107,000 people.
The government, working closely with industry, is determined to support the sector. Government already plays a leading role in promoting defence exports and encouraging defence SMEs.
The DGP will continue this work – but will also look at how links between civil and military technologies can be better exploited. In addition, it will look at the skills required for the sector and how there can be more flexibility in the workforce between the defence sector and advanced manufacturers.
Business Minister Michael Fallon said: “Along with other parts of the economy, the sector is facing tough times. This new partnership between government and industry will help address the barriers to growth for the sector.”
Steve Wadey said: “I am delighted to accept the position of co-chair of the Defence Growth Partnership alongside Michael Fallon. The defence industry plays a vital and strategic role in the UK’s industrial, technological and manufacturing base, as well as being a major driver of exports.
“We are committed to investing in the skills and industrial capability needed for future prosperity. Working in partnership with the government, the defence industry will play its role in driving growth in the UK economy.”