BAE Systems has reported strong operational and financial performance in the first four months of 2026 and maintained its full year guidance, with the company pointing to increased defence spending across all its key markets as providing a supportive backdrop for medium-term growth, according to the company.
Chief Executive Charles Woodburn said the company had delivered a strong start to the year, adding that its “geographic breadth, proven multi-domain capabilities, and focus on operational excellence and innovation are enabling consistent delivery of critical programmes” and that BAE was “well positioned for both current and future opportunities in defence.”
Notable orders received in the year to date include a contract worth approximately £2.5 billion to provide training and support equipment and services for Turkey’s recently ordered Eurofighter Typhoon aircraft, and approximately £1.1 billion of MBDA orders primarily from securing air defence contracts including Aster, VL MICA and Mistral with European customers. The Electronic Systems division received around $235 million in incremental funding under the $1.2 billion Epoch 2 missile warning and tracking satellite programme and a $325 million order under a restricted national space programme.
In Platforms and Services, Bofors received a contract worth over $200 million for ARCHER artillery systems and a $180 million contract for TRIDON Mk2 anti-aircraft systems for the Swedish Army. Maritime Solutions received a US Navy contract worth over $200 million to maintain and upgrade the USS Iwo Jima to accommodate Joint Strike Fighter flight operations.
Full year guidance remains unchanged from February, with BAE expecting sales growth of seven to nine per cent on 2025’s £30.7 billion, underlying earnings before interest and tax growth of nine to eleven per cent and free cash flow of more than £1.3 billion. The company said it expected significant opportunities across its business including space systems, missile and air defence systems, drones and counter-drone technology, electronic warfare, combat aircraft, combat vehicles, frigates and submarines.
BAE Systems will announce half year results on 30 July 2026.
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BAES has an impressive array of products and services. BAES is a capable entry in the global MIC pantheon of defense conglomerates.
If a defence company isn’t making significant sales and hence profits given the current climate, then questions need to be asked
I fear BAe is not moving fast enough. Look at ammunition manufacture for example?
The big ticket item is GCAP but useless Starmer is being slow in funding. This ac could be a world beater such that even the French have to purchase it. Ha ha but the Germans, Italian, Dutch, Norwegians, Finns etc will as well as many international countries including Canada and Australia.
Come on BAe put some more of your own money in now to speed things up…..
Government just dont do business; and it shows; otherwise they would have grabbed an open goal. Sad for the UK to have such losers.
Private defence firms can’t really influence government policy. There’s only so much funding they can internally supply without becoming a risk to the shareholders. BAE Systems has already invested millions into building the demonstrator which is in production now and we’ll be ready to fly in 2030. As further milestones are met and capabilities are revealed, funding should come.
Off topic. A Janes Defence News 8th May article is saying that NZ has down selected the Mogami and AH140 for its frigate selection. If the AH140 gets the gig it’ll be interesting to see the fit out proposed compared to the T31 with CIP. Good luck Babcock! Apologies for the bias. 🇬🇧 🇦🇺 🇳🇿
It will be interesting to see which way NZ goes.
I would say in isolation the AH140 is the better fit for NZ.. a cheaper frigate that can also provide a even cheaper patrol ship configuration… vs a more expensive ASW frigate that cannot have a patrol ship version.
But the wider regional factors come in. Mogami Being picked by Australia and built by a regional ally.
I don’t know the price difference. Maybe 3 T31s for the price of 2 Mogami’s? Timing might be an issue, industrial content too, if to come from Japan or Aus.
The AH140 is probably cheaper to buy and run is my guess. More suited to NZ in my opinion. Also more being built in Indonesia so that brings its advantages too.