The UK has been poorly served for war movies in the heroic vein for a long time. Most of what has been made has tended to play British service personnel as either victims, villains or figures of fun, with very little old-fashioned heroism on display. There is no shortage of raw material from the Falklands, Sierra Leone, Afghanistan, etc. etc. (even avoiding the political hot potato of Iraq) but there seems to be no appetite to make this sort of thing. I am sure there would be a market for it, but the problem is probably not a big enough market - big budget action movies need to sell internationally, and everyone but British audiences would stay away in droves.
We've been promised a remake of
The Dam Busters (with Stephen Fry allegedly writing the script

) but it hasn't materialised yet (apparently
The Hobbit got in the way). But really there are quite a few good options:
Distinguished - follows the actions of 899 Squadron operating from HMS
Invincible during the Falklands War. Nathan Fillion plays 'Sharkey' Ward with Martin Clunes as his tough-but-fair CO.
Yomp - Paul Bettany and Orlando Bloom play two RM Commandos who discover the meaning of friendship and sacrifice on the march from San Carlos to Port Stanley. Timothy Dalton plays their tough-but-fair CO.
Desert Rats - Christopher Eccleston and Martin Freeman put aside their differences as they find themselves in the tank action of 25-26 February 1991 against Iraqi armour. Hugh Grant plays their tough-but-fair CO.
Medics - Stephen Mangan and Kate Beckinsale bicker their way through medical school but end up performing prodigies of courage in the badlands of Helmand. Lenny Henry plays their tough-but-fair CO.