BAE Systems From Wikipedia, the free encyclopedia This article is about the British aerospace and defence company. For other uses, see BAE (disambiguation). Coordinates: 51°16′25″N 0°46′00″W
BAE Systems plc BAE Systems logo.svg FarnboroughAerospaceCentre panorama.jpg BAE Systems offices in the Farnborough Aerospace Centre business park Type Public limited company Traded as LSE: BA. FTSE 100 Component Industry Aerospace, Arms industry, Information security Predecessors British Aerospace Marconi Electronic Systems Founded 30 November 1999; 18 years ago Headquarters London & Farnborough, UK Area served Worldwide Key people Sir Roger Carr (Chairman) Charles Woodburn (Chief Executive) Products Civil and military aerospace Defence electronics Naval vessels Munitions Land warfare systems Services Maintenance, consultancy, training etc. Revenue Increase £18.32 billion (2017) Operating income Decrease £1.48 billion (2017) Net income Decrease £0.88 billion (2017) Total assets Decrease £22.45 billion (2017) Total equity Increase £3.78 billion (2017) Number of employees 83,200 (2017) Divisions See below Subsidiaries BAE Systems Inc. BAE Systems Australia BAE Systems Applied Intelligence BAE Systems Land & Armaments Website baesystems.com BAE Systems plc is a British multinational defence, security, and aerospace company. Its headquarters are in London in the United Kingdom and it has operations worldwide. It is among the world's largest defence companies; it was ranked as the third-largest based on applicable 2015 revenues. Its largest operations are in the United Kingdom and United States, where its BAE Systems Inc. subsidiary is one of the six largest suppliers to the US Department of Defense. Other major markets include Australia, India, and Saudi Arabia, which account for about 20% of BAE's overall sales. It is the biggest manufacturer in Britain. The company was formed on 30 November 1999 by the £7.7 billion merger of two British companies: Marconi Electronic Systems (MES) – the defence electronics and naval shipbuilding subsidiary of the General Electric Company plc (GEC) – and British Aerospace (BAe) – an aircraft, munitions and naval systems manufacturer.
BAE Systems is the successor to various aircraft, shipbuilding, armoured vehicle, armaments and defence electronics companies, including the Marconi Company, the first commercial company devoted to the development and use of radio; A.V. Roe and Company, one of the world's first aircraft companies; de Havilland, manufacturer of the Comet, the world's first commercial jet airliner; British Aircraft Corporation, co-manufacturer of the Concorde supersonic transport; Supermarine, manufacturer of the Spitfire; Yarrow Shipbuilders, builder of the Royal Navy's first destroyers; Fairfield Shipbuilding and Engineering Company, pioneer of the triple-expansion engine and builder of the world's first battlecruiser; and Vickers Shipbuilding and Engineering, builder of the Royal Navy's first submarines. Since its formation it has made a number of acquisitions, most notably of United Defense and Armor Holdings of the United States, and sold its shares in Airbus, Astrium, AMS and Atlas Elektronik.
BAE Systems is involved in several major defence projects, including the Lockheed Martin F-35 Lightning II, the Eurofighter Typhoon, the Astute-class submarine and the Queen Elizabeth-class aircraft carriers. BAE Systems is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Contents 1 History 1.1 Heritage 1.2 Formation 1.3 2000s 1.3.1 Airbus shareholding 1.4 2010s 2 Products 3 Areas of business 3.1 United Kingdom 3.2 United States 3.3 Rest of the world 4 Shareholders 5 Organisation 6 Corporate governance 7 Financial information 8 Corruption investigations 8.1 Serious Fraud Office 8.2 Saudi Arabia 8.3 Others 9 Criticism 9.1 Espionage 9.2 Nuclear weapons 9.3 Cluster bombs 9.4 Saudi war crimes in Yemen 9.5 Political influence 10 See also 11 References 12 Further reading 13 External links History Heritage
Supermarine, the manufacturer of the Spitfire was a predecessor company of BAE Systems. It was purchased by Vickers-Armstrongs, which itself was merged into the British Aircraft Corporation in 1960. BAE Systems was formed on 30 November 1999 by the £7.7 billion merger of British Aerospace (BAe) and Marconi Electronic Systems (MES). As a result, BAE Systems is the successor to many of the most famous British aircraft, defence electronics and warship manufacturers. Predecessor companies built the Comet, the world's first commercial jet airliner; the Harrier "jump jet", the world's first operational Vertical/Short Take-Off and Landing (VTOL) aircraft; the "groundbreaking" Blue Vixen radar carried by Sea Harrier FA2s and which formed the basis of the Eurofighter's CAPTOR radar; and co-produced the iconic Concorde supersonic airliner with Aérospatiale.
British Aerospace was a civil and military aircraft manufacturer, as well as a provider of military land systems. The company had emerged from the massive consolidation of UK aircraft manufacturers since World War II. British Aerospace was formed on 29 April 1977 by the nationalisation and merger of The British Aircraft Corporation (BAC), the Hawker Siddeley Group and Scottish Aviation. Both BAC and Hawker Siddeley were themselves the result of various mergers and acquisitions.
Marconi Electronic Systems was the defence subsidiary of British engineering firm The General Electric Company (GEC), dealing largely in military systems integration, as well as naval and land systems. Marconi's heritage dates back to Guglielmo Marconi's Wireless Telegraph & Signal Company, founded in 1897. GEC purchased English Electric (which included Marconi) in 1968 and thereafter used the Marconi brand for its defence businesses (as GEC-Marconi and later Marconi Electronic Systems). GEC's own defence heritage dates back to World War I, when its contribution to the war effort included radios and bulbs. World War II consolidated this position, as the company was involved in important technological advances, notably the cavity magnetron for radar. Between 1945 and 1999, GEC-Marconi/Marconi Electronic Systems became one of the world's most important defence contractors. GEC's major defence related acquisitions included Associated Electrical Industries in 1967, Yarrow Shipbuilders in 1985, Plessey companies in 1989, parts of Ferranti's defence business in 1990, the rump of Ferranti when it went into receivership in 1993/1994, Vickers Shipbuilding and Engineering in 1995 and Kværner Govan in 1999. In June 1998, MES acquired Tracor, a major American defence contractor, for £830 million (approx. US$1.4 billion c. 1998).