BAE Systems plc is a British multinational defence, security, and aerospace company. Its headquarters are in London and Farnborough in the United Kingdom with operations worldwide. The company is the largest defence contractor in Europe and among the world’s largest defence companies. BAE is involved in several major defence projects, including the Lockheed Martin F-35 Lightning II, the Eurofighter Typhoon and the Astute-class submarine.
About BAE Systems in brief
BAE Systems plc is a British multinational defence, security, and aerospace company. Its headquarters are in London and Farnborough in the United Kingdom with operations worldwide. The company is the largest defence contractor in Europe and among the world’s largest defence companies. BAE 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. It is listed on the London Stock Exchange’s FTSE 100 Index and is the third-largest defence company in the world. 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 was formed on 30 November 1999 by the £7. 7 billion purchase and merger of Marconi Electronic Systems —the defence electronics and naval shipbuilding subsidiary of the General Electric Company plc —by British Aerospace, an aircraft, munitions and naval systems manufacturer. Predecessor companies include The Marconi Company, the first commercial company devoted to the development and use of radio; A. V. Roe and Company; de Havilland, manufacturer of the Comet; Hawker Siddley; Supermarine; Yarrow Shipbuilders; Fairfield Shipbuilding and Engineering Company, builder of the first battlecruiser; and Vickers Shipbuilding & Engineering Company.
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. In June 1998, BAE acquired MES Tracor, a major defence contractor for £830 million. It went into receivers in 1994 when it went into receiver receivers, receivers and receivers. In 1997, it acquired American defence contractor Tracan, a defence contractor, for £830 million. In 1998, it bought U.S. defence contractor MES, a defense contractor for £830 million, for £8.1 billion. In 1999, it purchased U.K. defence firm Ferranti, a parts supplier for parts of the Ferrantsi FerrantI Ferries, and in 1999, the defence business rumpi Ferries. In 2000, it was acquired by French defence contractor Rheinmetall, for £7.5 billion, making it one of Europe’s biggest defence contractors. In 2002, it sold its defence business to French defence giant Thales for £6.5 billion. In 2003, the company was bought out by German defence giant Dassault Aviation for £5.9 billion. It became the biggest manufacturer in Britain. In 2007, it became the largest manufacturer in Europe, with sales of £4.7 billion. The firm is now the third largest defence firm in the UK, after Dassault and BAE.
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