Calepin des entreprises international 2026 VA.pdf — page 34

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BAE SYSTEMS
Business trends
	
 BAE Systems revenues reached £26.3 billion (€31.1 billion) in 2024, 96% of which in defence. Year-on-year 
growth of 14% in local currency was driven by the integration of equipment manufacturer Ball Aerospace from 
February 2024, a large number of contracts for armoured vehicles signed in recent years by the Swedish 
subsidiary BAE Systems Hägglunds, and progress on the construction of submarines and frigates for the 
Royal Navy. The group is the leading supplier of defence equipment to the UK, Saudi Arabia and Australia, as 
well as one of the 10 top contractors to the U.S. Department of Defense.
	
 In June 2025, BAE Systems, Leonardo and Japan Aircraft Industrial Enhancement Co. (JAIEC, including 
Mitsubishi Heavy Industries), each holding a 33.33% stake, created the Edgewing joint venture. It will be 
responsible for designing and developing the future sixth-generation GCAP (Global Combat Air Programme) 
fighter aircraft, known as Tempest in the United Kingdom. The joint venture is based in the United Kingdom and 
its first Chief Executive Officer is Italian.
	
 The group inaugurated two production units in the United Kingdom in June 2025: a 170-metre-long military 
shipbuilding hall in Govan (Glasgow) and an 8,700 m² artillery gun factory in Sheffield.
Home market
	
 BAE Systems generated 27% of its turnover in the UK in 2024.	
	
 In June 2025, the UK Ministry of Defence awarded the group a £205 million (€242 million) contract for the 
production and integration of the new ECRS Mk2 radar (developed in partnership with Leonardo UK) on the 
Royal Air Force’s Typhoon fighter aircraft. 
 
	
 Construction of Astute-class SSN submarines and Dreadnought-class SSBN submarines is ongoing (two and 
three units respectively, scheduled to enter service by early 2029 and in the 2030s).
Export markets
	
 In 2024, 73% of the group’s revenue came from exports, with the United States accounting for nearly half of 
sales, thanks in particular to the F-35 programme.	
	
	
 In December 2024, Qatar confirmed its intention to acquire 12 additional Eurofighter Typhoon fighter aircraft 
for an estimated £2.8 billion (€3.3 billion). These aircraft will be assembled at BAE Systems’ Warton site in the 
UK, where production of an initial order for 24 units is nearing completion with two aircraft remaining to be 
produced. Turkey could also acquire 40 aircraft.
	
 BAE Systems Hägglunds signed two contracts worth a combined $2.5 billion (€2.3 billion) in December 2024 
to supply CV9035 Mk IIIC tracked armoured infantry fighting vehicles to Denmark (115 units) and Sweden 
(50 units).
	
 The U.S. Air Force awarded the group a $1.2 billion (€1.1 billion) contract in January 2025 to continue 
maintenance of 450 LGM-30G Minuteman III intercontinental ballistic missiles until July 2027.
	
 In May 2025, the U.S. Space Force awarded a $1.2 billion (€1.1 billion) contract to BAE Systems for the 
production of 10 missile warning and tracking satellites in medium orbit (Epoch 2 constellation), to be delivered 
from 2029 onwards.
	
 BAE Systems secured two contracts worth a combined $369 million (€341 million) in March and August 
2025 from the U.S. Marine Corps to produce 61 ACV-30 8x8 amphibious armoured vehicles equipped with 
Kongsberg’s PROTECTOR RT20 remote weapon station, armed with a 30mm cannon.
	
 In August 2025, the Ministry of Defence of Norway selected BAE Systems’ Type 26 offer for its programme to 
acquire five to six anti-submarine warfare frigates.
Technology and Innovation
	
 Self-funded R&D expenditure reached £357 million (€421 million) in 2024, representing 1.4% of revenues. 
	
	
	
STRATEGIC HIGHLIGHTS