BAE Systems Backlogs 70 Billion: War’s Beefing Up Orders
Picture this: a giant defense cart piled high with £70 billion worth of toys—submarines, missiles, tractors, and the whole shebang. That’s the current backlog of BAE Systems, the company that’s been at the heart of Britain’s military muscle.
What the Numbers Say
- Backlog: £69.8 billion in submarines, vehicles and high‑tech gear earmarked for the next few years.
- New Orders: £37.7 billion so far, fueled by the conflicts in Armenia, Gaza and Ukraine.
- Submarines for the Future: £4 billion from the UK’s Ministry of Defence for the SSN‑AUKUS nuclear subs, a joint project with Australia.
The Big Projects
These aren’t just orders; they’re a long‑haul road to future warfare.
- Submarines that suck up the next decade of defence budgets.
- High‑tech missiles that keep nipping at an ever‑changing threat landscape.
- A sizzling partnership with European allies that keeps supply chains buzzing.
Corporate Track Record
CEO Charles Woodburn summed it up live on a press call: “We’ve delivered a strong operational and financial performance in 2023 and I’m extremely proud of the way our people have delivered cutting‑edge equipment and services to our customers, working together with partners across our supply chain.”
And the numbers back him up: pre‑tax profit jumped to £2.3 billion from £2 billion last year.
What the Analyst Says
Admirals Market Analyst Roberto Rivero clarified the trend: “Sales and earnings grew in 2023, with BAE’s backlog hitting a record £69.8 billion. After the Cold War wind‑down, defense budgets eased, but the Ukraine war and fresh Middle‑East tensions have pushed nations to re‑count their weapons budgets. As the West arms Ukraine while ramping up local spending, BAE is likely to keep seeing the crush of demand.”
But Rivero warns: “Labour shortages and supply‑chain hiccups have kept the pace of production slower than the spike in demand, and that’s a real risk moving forward.”
Wrap‑up
In short, BAE Systems is swimming in an ocean of orders—thanks to both the ongoing wars and a world that’s now looking harder at its arsenal. For those of us watching from the newsroom kitchen, the story is as thrilling as a submarine dive into the abyss: the more you push, the deeper the real? No, not that kind of depth. We’re talking financial depth.
