BAE Systems, the UK's largest weapons manufacturer, has announced record orders and expects sales to exceed £30 billion in 2024, driven by heightened defense spending post-Ukraine war. With a backlog of £77.8 billion, the company indicates a surge in demand for arms as Europe adjusts its defense strategies amidst changing US foreign policy dynamics under Trump. CEO Charles Woodburn highlighted the need for long-term military support, especially from nations like Ukraine, which will require substantial reconstruction of military supplies, ensuring consistent growth for the company moving forward.
The increase in European defence spending is a direct response to the ongoing conflict in Ukraine, with BAE Systems reporting record orders and an optimistic future.
BAE Systems anticipates selling over £30 billion in 2024, signaling significant growth fueled by defense spending related to geopolitical tensions.
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