BAE Systems Reports Record Profits as Global Defense Spending Surges

The UK-based defense contractor cites increasing geopolitical threats and a record £77.8 billion order backlog as key drivers of growth.

BAE Systems posted a record profit of over £3 billion in 2024, reflecting a 16% increase compared to the previous year.
The company reported revenues of £26.3 billion, a 14% rise, driven by heightened demand for military equipment and cybersecurity solutions.
Key markets include the US, UK, and Saudi Arabia, with significant contributions from fighter jet sales, warships, and advanced technologies.
BAE's order backlog reached an all-time high of £77.8 billion, bolstered by global rearmament efforts and NATO's push for increased defense spending.
The company is investing in next-generation technologies, including the Tempest fighter jet and nuclear-powered submarines under the Aukus alliance.