BAE Systems reports revenue growth in 2022

By Tim Aldred

23 Feb 2023

Typhoon1

BAE Systems has reported revenue growth of more than four per cent for the year ending December 31, 2022.

The organisation, which employs around 10,000 people in its air division at its Warton and Samlesbury sites, increased sales from £21.3bn to £23.3bn. Order intake rose from £21.5bn to £37bn.

Highlights of the year included the Ministry of Defence’s investment in Typhoon future capabilities,delivered the first eight of 24 Typhoons to Qatar, and confirmed role in supporting the agreement with governments of the UK, Japan and Italy to develop a next generation fighter aircraft, under the Global Combat Air Programme.

Charles Woodburn, BAE Systems chief executive, said: "We’ve delivered another year of strong results across the Group. Our employees have done an outstanding job to effectively manage supply chain and inflationary pressures whilst delivering critical capabilities and driving efficiencies for our customers.

"Our diverse geographic footprint, deep customer relationships and highly relevant, leading defence technologies mean we’re well positioned to support national security requirements in an elevated threat environment.

"Our record orders and financial performance give us confidence in delivering long-term growth and to continue investing in new technologies, facilities and thousands of highly skilled jobs, whilst increasing shareholder returns."

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