The UK aerospace and defence sector is navigating rising material costs and persistent global supply chain disruptions - issues highlighted by delays in major programmes such as the UK’s Tempest fighter initiative. Accountants in this sector are now central to scenario planning and risk forecasting, helping organisations balance procurement challenges with long-term financial strategy.

Government policy also has major influence. Defence spending commitments announced in the 2024 Budget and increased investment in cyber-defence have raised demand for accountants with expertise in contract profitability, cost modelling, and R&D financing. For example, managing the financial reporting on Ministry of Defence contracts requires deep familiarity with defence procurement rules, export controls, and grant-funded innovation.

Technology continues to transform the sector through ERP system upgrades, digital manufacturing, and automation. Accountants now support data-led forecasting and real-time project accounting across multinational supply chains. As aerospace organisations invest in decarbonisation and sustainable fuel technologies, accountants with ESG and strategic advisory skills are increasingly in demand.