2 minute read - 19th November 2024
Report shows BAE Systems Air supports 70,000 jobs and contributes £5bn to UK economy
A new report by Oxford Economics has demonstrated the critical role BAE Systems’ Air business plays in supporting economic growth in the UK, particularly in the North West of England.
By developing advanced technology, creating high-quality jobs at its 21 UK locations and overseeing an extensive national supply chain, BAE Systems Air is unlocking economic growth and driving innovation, all while bolstering UK national security.
The report reveals that in 2023, BAE Systems Air contributed over £5bn to UK GDP, alongside an additional £2.6bn in exports—a figure that has doubled since 2016 – and a further £220m to UK government through tax revenues. The defence giant supported almost 70,700 jobs across the UK in highly skilled roles including combat air design, engineering, support and training, 20,000 of which were in the North West. It also partners with 1,400 UK suppliers, returning nearly £2.5bn to UK businesses through its supply chain.
New research has revealed that BAE Systems’ Air business supports over 70,000 jobs and contributed over £5bn to the UK economy / Picture: © Crown Copyright
Simon Barnes, group managing director of BAE Systems Air, said: “At a time of great uncertainty around the world, our core focus is to serve, supply and protect those who serve and protect us. We also recognise the very significant impact we make to our economy and communities across the UK, and this report demonstrates how we are boosting national economic growth and job creation, with average productivity 15% above the national average. The report reinforces the importance of investing in national sovereign capabilities in combat air systems and UK-owned defence technology and intellectual property. The benefits delivered for the UK are clear and significant.”
Kevin Craven, CEO of ADS, added: “Military aerospace is a pivotal part of the UK economy. The UK’s strong defence industrial base, which is driven by export-generating companies like BAE Systems and its supply chain, is vital for our continued security. Collectively, the UK’s aerospace sector creates 104,000 jobs across the country and ensuring the sector thrives is deeply important for securing UK advantage.”
BAE Systems Air partnered with 1,400 UK suppliers, returning nearly £2.5bn to UK businesses through its supply chain / Picture: BAE Systems
BAE Systems Air has over 1,400 apprentices and graduates across its business at any given time. The report by Oxford Economics is the latest to highlight the benefits that continued investment in advanced combat air programmes such as Typhoon and Tempest generate for the wider economy.
You can download the full report below:
