BAE Systems

BAE Systems plc (BAE) is a British multinational arms, security and aerospace company, based in London, England.^[4][5] It is the biggest manufacturer in Britain as of 2017.^[6] It is the largest defence contractor in Europe^[7] and the seventh-largest in the world based on 2021 revenues.^[8]

BAE Systems plc

Formerly	British Aerospace Limited (1979–1981) British Aerospace Public Limited Company (1981–2000)[1]
Company type	Public
Traded as	LSE: BA. FTSE 100 Component
Industry	Aerospace, arms industry, information security
Predecessors	British Aerospace Marconi Electronic Systems
Founded	30 November 1999; 25 years ago (1999-11-30)
Headquarters	London, England, UK
Area served	Worldwide
Key people	Cressida Hogg (chair) Charles Woodburn (CEO)
Products	Civil and military aerospace Defence electronics Naval vessels Munitions Land warfare systems
Services	Maintenance, consultancy, training etc.
Revenue	GB£23.078 billion (2023)
Operating income	GB£2.573 billion (2023)
Net income	GB£1.940 billion (2023)
Total assets	GB£32.064 billion (2023)
Total equity	GB£10.723 billion (2023)
Number of employees	93,000 (2024)
Divisions	See below
Subsidiaries	BAE Systems Inc. BAE Systems Australia BAE Systems Digital Intelligence
Website	baesystems.com
Footnotes / references [2][3]

Locations

BAE's largest operations are in the United Kingdom and in the United States. In the U.S., BAE Systems Inc. subsidiary is one of the six largest suppliers to the US Department of Defense. Its next biggest markets are Saudi Arabia, then Australia; other major markets include Canada, Japan,^[9][10] India, Turkey, Qatar, Oman and Sweden.^[2]

Establishment

The company was formed on 30 November 1999 by merger of Marconi Electronic Systems, the defence electronics and naval shipbuilding subsidiary of the General Electric Company plc, with British Aerospace, an aircraft, munitions and naval systems manufacturer.

Successions

BAE is the successor to many aircraft, shipbuilding, armoured vehicle, armaments and defence electronics companies. These include the Marconi Company, the first commercial company for the development and use of radio; A.V. Roe and Company, one of the world's first aircraft companies; de Havilland, manufacturer of the Comet, the world's first commercial jet airliner; Hawker Siddeley, manufacturer of the Harrier, the world's first VTOL attack aircraft; British Aircraft Corporation, co-manufacturer of the Concorde supersonic transport; Supermarine, manufacturer of the Spitfire; Yarrow Shipbuilders, builder of the Royal Navy's first destroyers; Fairfield Shipbuilding and Engineering Company, builder of the world's first battlecruiser; and Vickers Shipbuilding and Engineering, builder of the Royal Navy's first submarines.

Buying other businesses

Since 1999, BAE has bought other businesses. They bought United Defense and Armor Holdings of the United States, and has sold its shares in Airbus, Astrium, AMS and Atlas Elektronik. It is involved in several major defence projects. These include the Lockheed Martin F-35 Lightning II, the Eurofighter Typhoon, the Astute-class submarine, and the Queen Elizabeth-class aircraft carriers. BAE Systems is listed on the London Stock Exchange's FTSE 100 Index.