The trouble I see, is you are now playing a constant catch up, the military is so small, under equipped and under funded, it means that there is no slack in the system to take up accelerated wear and tear on the hardware when you go to war.
Then when you retire fleets such as Jaguar, Harrier and the like early, the knock on effect is the other fleets then have to fill that capability gap and their original planned replacement dates suddenly becomes critical as they burn through their fatigue lives, a false economy as you are binning capability for short term savings which means funding needs to be brought forward to replace the fleets that survive.
When we had a industry and design capability, we were producing a first rate item and selling to the World, Military cast offs were often refurbished and sold on third world countries offsetting the cost of replacements, you also had a young low houred fleet.
Unfortunately with the demise of the Military capability, overseas product purchases and reduction therein, the industry has had to reduce to their output, closing lines and shutting down design offices... Once you go down that route, it is a hard thing to ever pull back that capability and you then you have to rely on foreign products.
It amazes me that we have got into this position, when the likes of Sweden can still produce homegrown combat aircraft and vehicles.