Defence giant BAE Systems is to invest £300 million at its site at Barrow, to "transform" its submarine building capabilities.
A top-secret stealth drone, built by BAE Systems in Lancashire, has carried out its first successful test flights from Warton.
MPs and members of the House of Lords met to show their support for the UK's submarine building industry, a key employer in the North West.
Defence Secretary Philip Hammond said the merger of defence giant BAE Systems and European rivals EADS collapsed because it was "too difficult" to reconcile the differences of the governments involved.
The chief executive of BAE Systems says he is "disappointed" the potential merger the company and EADS, who make Airbus aircraft has been cancelled.
– Ian King, chief executive BAE Systems
"We are obviously disappointed that we were unable to reach an acceptable agreement with our various government stakeholders."
BAE Systems and EADS have terminated discussions over a potential merger, the two companies confirmed today.
The potential merger between BAE Systems and EADS, the company that make Airbus aircraft, has been cancelled, sources said.
Weight empty: 29,000-32,300lb
Fuel capacity: 13,500-18,250lb
Weapons payload: 25mm cannon 15,000lb
Weapons: Two AIM-120c- air-to-air missiles, two 1,000lb guided bombs
Max weight: 60,000lb
Speed: Mach 1.6
Max G-rating: up to 9.0
The RAF plans to have 138 aircraft