British weapons manufacturer secures £25bn in orders as military spending surges

12 November 2024 , 18:12

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British weapons manufacturer secures £25bn in orders as military spending surges

British defence giant BAE Systems has a total orders bill worth more than £25bn for this financial year alone. 

The FTSE 100 firm had orders worth £15bn just six months ago, but the earnings of global defence firms have sky-rocketed in response to the conflicts in the Middle East and Ukraine, as well as the prospect (and now reality) of a second Trump presidency. 

Around 90% of the company’s revenue target has already been met for this calendar year.

Shares in the firm have grown by more than 115% since the invasion of Ukraine in 2022. 

Chief executive Charles Woodburn said: "Focusing on operational excellence, contracting discipline and growing our workforce is enabling us to consistently deliver critical capabilities and technologies for our customers worldwide.

"At the same time, we continue to invest in our business for the long term, which together with our broad geographic and domain diversity, positions us well for continued growth in the years ahead."

David Wilson