BAE Systems contributed $18.6 billion to the United Kingdom’s gross domestic product in 2024, accounting for 0.5 percent of the economy, according to analysis from Oxford Economics.
The 36-page report, released Wednesday, also noted that BAE invested $314 million in workforce development to support London’s efforts to drive job creation and new skills to help the U.K.’s industrial strategy.
Supply Chain Impact
According to the Oxford Economics report, the company also contributes to strengthening homeland security and growing the national economy through the 159,000 full-time jobs its operations support, including nearly 50,000 positions in the United Kingdom.
The economic advisory firm’s analysis also noted the company’s positive impact on the U.K. supply chain, spending nearly $7.9 billion in 2024 deals with 5,800 British suppliers.
Resilient Defense Industrial Base
Charles Woodburn, BAE Systems group CEO, said the Oxford Economics report presents not just the company’s contributions to the British armed forces’ capabilities.
“We fuel economic growth, creating jobs and prosperity, with the impact extending far beyond BAE Systems to the thousands of companies we work with right across the U.K., helping to support growth and a robust, resilient and innovative U.K. defense industrial base,” he said.