Defense
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BAE Systems

Explore Company

$BAESF

🇬🇧

UK's largest defense company. £26.3B FY2024 revenue (~$33B). Astute + Dreadnought (UK SSN/SSBN) submarine builder, Type 26 frigate, Eurofighter Typhoon partner, Tempest/GCAP partner, AMPV (Army), CV90, M777 howitzer. £77B backlog. Acquired Ball Aerospace Feb 2024 for $5.55B (US space).

Key Milestones

Apr 1977
Launch

Heritage: British Aerospace (BAe) formed via UK Aircraft and Shipbuilding Industries Act, nationalizing BAC, Hawker Siddeley Aviation, Hawker Siddeley Dynamics, Scottish Aviation

Aug 1985
Expansion

Al Yamamah arms deal signed with Saudi Arabia worth £43B+ over decades — UK's largest export deal; Tornado, Hawk, Typhoon platforms; controversies over BAE corruption probes (SFO halts 2006)

Nov 1999
Launch

BAE Systems formed via merger of British Aerospace + GEC's Marconi Electronic Systems; £7.7B deal; UK national champion in defense electronics, integrated with combat air, naval, land

Apr 2002
Partnership

BAE Systems formally selected as F-35 Joint Strike Fighter Tier 1 partner — supplies aft fuselage and tail assemblies for all F-35 variants; ~15% workshare per aircraft

Jun 2005
Partnership

Acquires United Defense Industries for $4.2B — gains Bradley IFV, M88 ARV, AAV-7, M109 SPH; transforms BAE into major US defense prime via BAE Systems Land & Armaments

Aug 2010
Commercial

Astute-class SSN HMS Astute commissioned; first of 7 nuclear hunter-killers (£1.6B/boat); built at Barrow with Rolls-Royce reactor; Royal Navy's most capable submarine class

Jul 2017
Milestone

First Type 26 City-class frigate (HMS Glasgow) keel laid at Govan; design also won by Australia (Hunter, A$45B) + Canada (River, CA$60B+) — global frigate design franchise

May 2018
Expansion

Australia selects Hunter-class (Type 26 derivative) frigate over FREMM and F-100; A$45B program; 9 hulls; ASC Shipbuilding becomes BAE subsidiary in Adelaide

Oct 2018
Expansion

Canada selects River-class (Type 26 derivative) Canadian Surface Combatant; CA$60B+ program; 15 hulls — Lockheed Martin Canada prime contractor with BAE design

Apr 2021
Milestone

Dreadnought-class SSBN steel cut for HMS Dreadnought; Britain's strategic nuclear deterrent replacement (4 boats); £31B program enters production phase

Jun 2022
Launch

Wins US Army's Cold Weather All-Terrain Vehicle (CATV/Beowulf) prime contract worth ~$278M; BvS10/Beowulf platforms — 110 vehicles initially with options to 163

Dec 2022
Partnership

GCAP (Global Combat Air Programme) formed: UK-Italy-Japan 6th-gen fighter; merges UK Tempest with Japan F-X; Edgewing JV (BAE+MHI+Leonardo) replaces national programs

Aug 2023
Partnership

Announces $5.55B all-cash Ball Aerospace acquisition; major US space ISR + defense electronics expansion; transformative deal for US presence

Feb 2024
Expansion

Ball Aerospace acquisition closes; renamed BAE Systems Space & Mission Systems; ~$2B annual revenue addition; weather satellites + DoD classified ISR + components

Sep 2024
Expansion

Eurofighter Tranche 5 contract finalized for Royal Saudi Air Force; ~£10B for 24 additional Typhoons; UK reverses Dec 2023 Saudi block over Yemen war policy reset

Dec 2024
Partnership

AUKUS Pillar I: Submarine Industrial Base Strategy finalized; SSN-AUKUS design lead shared with Electric Boat; production preparation at Barrow

Jun 2025
Milestone

Backlog reaches £77B record; CV90 + Boxer + Eurofighter + Type 26 + Dreadnought drive 12% revenue growth; UK SDR confirms £75B nuclear pipeline

Sep 2025
Expansion

AMPV (Armored Multi-Purpose Vehicle) full-rate production approved; replaces M113 across US Army; potential 2,900+ vehicles long-term

Apr 2026
Milestone

GCAP first prototype build initiated at Warton UK; flight test target 2027 — accelerated from original 2030 schedule under joint UK-IT-JP funding boost

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Defense - BAE Systems | Sterling