BAE Systems has issued a trading update announcing re-organisation and rationalisation measures aimed at driving competitiveness, accelerating technology innovation and delivering continued improvements in efficiency and operational excellence.
The announcement sets out continued action to reduce Typhoon and Hawk production rates, including a proposal to reduce the workforce in this area, in Maritime Services and in Applied Intelligence.
ADS Chief Executive Paul Everitt said:
“The defence sector makes an important contribution to both our national security and our economic prosperity, worth £23bn to the UK last year and employing more than 140,000 people across the country. It has achieved productivity growth seven times greater than the rest of the UK economy since 2010 and there are growth opportunities in the global market for the most competitive companies.
“It is vital that the Government continues to its strong support for defence exports and works with industry to put in place an ambitious defence sector deal, building on the recent shipbuilding strategy and the excellent work of the Defence Growth Partnership.”