Babcock supporting one in every 550 jobs in the UK
New independent research by Oxford Economics reveals how defence company Babcock International Group (Babcock) drives growth across the UK economy through jobs, investment in the supply chain, and tax contributions.
Copied to clipboard
Image courtesy Babcock International Group
The Oxford Economics report published today shows the FTSE 100 company made a total contribution of £4.3 billion to UK GDP in FY2024, a significant increase of £1 billion since FY2022. For every £1 spent with Babcock on UK defence, £3 goes back into the UK economy.
The Oxford Economics report published today shows the FTSE 100 company made a total contribution of £4.3 billion to UK GDP in FY2024, a significant increase of £1 billion since FY2022. For every £1 spent with Babcock on UK defence, £3 goes back into the UK economy.
Over the last two years, Babcock has substantially grown the number of UK jobs that it supports to 67,000 across the country, equivalent to one in every 550 jobs in the UK.
Other key findings include:
• Significant impact on the UK’s regional economies, including over 12,000 staff directly employed in the South West of England and 5,400 in Scotland
• 1,800 people being trained through Babcock’s graduate and apprenticeship programmes
• An estimated total tax contribution of £1.1 billion to the UK Exchequer, directly and indirectly
• £550 million spent with UK Small & Medium Enterprises (SMEs), supporting more than 3,800 businesses
David Lockwood, Chief Executive of Babcock, said:
“We are proud of the role we play across the country.
“We are proud of the role we play across the country.
“Babcock doesn’t just help protect the UK; we are helping to drive prosperity.
At this critical time for national security, our highly experienced teams play a key role in developing sovereign capabilities to create a safe and secure world, together with our wider industry colleagues and partners.
“We are investing in infrastructure, technology, and skills that we need today to bolster the growth of our business for tomorrow. This commitment to our customers and continuous investment in our people is making us a better business. We are determined to continue supporting the communities we work in whilst delivering the capabilities our armed forces need to keep the country safe.”
Rt Hon Maria Eagle MP, Minister for Defence Procurement and Industry, said:
“Babcock is a fantastic example of how defence is an engine for growth, creating jobs across the nation.
“The company supports thousands of skilled jobs across the South-West and Scotland and invests in British SMEs, building up local communities and developing talent through graduate and apprenticeship programmes.
“Our Defence Industrial Strategy will help direct more defence spending to British-based firms, such as Babcock, boosting defence jobs in every nation and region.”
Copied to clipboard
Sign up for our newsletter and get our latest content in your inbox.
Similar Reads
1
2
3
Sign up for our newsletter. Select all sectors relevant to you.
Related
Air Arabia launches Gatwick-Sharjah route as airport network grows
Air Arabia launches Gatwick-Sharjah route as airport network grows
The inaugural flight between the two airports took place on 4 July, a four month delay to the originally slated start date of March 2026 owing to the war in Iran.
Trescal expands UK and Ireland support for aerospace and defence
Trescal expands UK and Ireland support for aerospace and defence
Trescal has expanded its laboratory network and technical services across the UK and Ireland, strengthening support for aerospace and defence customers operating in regulated environments.
EasyJet signals support for £5.5bn Castlelake takeover offer following improved bid
EasyJet signals support for £5.5bn Castlelake takeover offer following improved bid
EasyJet has agreed in principle to a £5.5bn takeover by Castlelake after an improved offer, paving the way for a formal bid in August.
IISS report warns Russian-linked drones may be surveying British airbases
IISS report warns Russian-linked drones may be surveying British airbases
An IISS report has linked drone sightings over British military bases to Russia’s wider unconventional campaign in Europe, but critics say the evidence falls short of proof.
Russian Tu-142 ‘Bear-F’ drops sonobuoys near Royal Navy’s HMS Price of Wales
Russian Tu-142 ‘Bear-F’ drops sonobuoys near Royal Navy’s HMS Price of Wales
Why a Russian Tu-142 as harried a British aircraft carrier operating in the Norwegian Sea and how this is part of a much larger and long-running saga.
Trescal expands UK and Ireland support for aerospace and defence
Trescal expands UK and Ireland support for aerospace and defence
Trescal has expanded its laboratory network and technical services across the UK and Ireland, strengthening support for aerospace and defence customers operating in regulated environments.
Airbus UK to build Aeolus-2 weather satellite for Europe’s next forecasting leap
Airbus UK to build Aeolus-2 weather satellite for Europe’s next forecasting leap
Airbus Defence and Space UK has been authorised to begin building Aeolus-2, a next-generation ESA and EUMETSAT weather satellite designed to deliver global wind measurements for more accurate forecasting, aviation operations and climate monitoring.
BAE Systems’ Endura demos radiation-hardened capability for space missions
BAE Systems’ Endura demos radiation-hardened capability for space missions
BAE Systems has successfully demonstrated the ability of its Endura system-on-chip (Soc) space processor…
BAE Systems to build high-res imagery satellites for Vantor
BAE Systems to build high-res imagery satellites for Vantor
BAE Systems has entered into an agreement to build high-resolution imaging satellite buses for Vantor, a provider of unified spatial intelligence from space to ground.
Police leadership overhaul puts UK security capability under the spotlight
Police leadership overhaul puts UK security capability under the spotlight
A major review of police leadership in England and Wales has warned that future UK security capability will depend on stronger leadership, skills and workforce planning as public safety organisations respond to more complex threats.
Smiths Detection completes transition to CVC Capital Partners
Smiths Detection completes transition to CVC Capital Partners
Smiths Detection has completed its transition from Smiths Group to CVC Capital Partners (CVC), a private markets investment firm.
Serbus acquires Westica
Serbus acquires Westica
Provider of secure Critical National Infrastructure (CNI) networking and communication solutions, Serbus, has acquired Westica Communications Limited (Westica), for an undisclosed sum.