BAE Systems contributing more than £10bn to UK economy
A new report's revealed the scale of the defence firm's impact here in the South
Last updated 14th Jan 2022
A new report's found one of the south's biggest employers contributed over £10 billion to the UK economy in 2020.
Defence giant BAE Systems employs 3,775 people across its sites in Christchurch, Cowes and Portsmouth.
Around 2,400 of those are supporting the Royal Navy's surface fleet at Portsmouth Naval Base and on the Isle of Wight, with over 1,000 more developing advanced radars, torpedoes, small boats and combat systems.
The Company also has a growing team of engineers in Weymouth who support the Astute and Dreadnought submarine programmes.
Research by Oxford Economics has found BAE Systems spent almost £590 million, with nearly 750 suppliers, across Hampshire, Dorset and Surrey in 2020.
In all the company contributed the equivalent of 0.5% to the UK's domestic economy across its 50 UK sites.
Charles Woodburn, BAE Systems Chief Executive, said:
“Our sector not only supports our national defence and security, but also provides unparalleled economic value which drives the UK’s prosperity.
"The investment we make in highly skilled jobs, research & development and our extensive supply chain supports thousands of companies and tens of thousands of people and the communities in which they live.”
The report found that, in addition to the Company’s own 35,300 highly skilled UK employees, nearly 59,000 jobs are supported across the supply chain with more than 49,000 jobs supported through employee and supplier spending.
More than two-thirds of the company's UK employees are in engineering roles.
This year BAE Systems will recruit almost 1,700 apprentices and graduates across the country – 25% up on last year and the largest intake it has offered in a single year – including around 560 roles across the South of England.