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.
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.”
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
How London Stansted handled a record 693 flights in one day
How London Stansted handled a record 693 flights in one day
Today, London Stansted Airport is celebrating National Aviation Day, established in 1939 to commemorate the birth of aviation pioneer Orville Wright, who alongside brother Wilbur, invented, built and successfully flew the world's first motor-powered aircraft.
South East leads UK manufacturing SME performance
South East leads UK manufacturing SME performance
UK manufacturing SMEs are seeing sharply different performance across the country, as new Unleashed research reveals.
Virgin Atlantic faces UK Watchdog ‘price dripping’ probe
Virgin Atlantic faces UK Watchdog ‘price dripping’ probe
How Virgin Atlantic is under investigation for potentially misleading customers by hiding mandatory fees from headline prices.
Babcock engineering supplier network takes shape as Assystem and Amentum join
Babcock engineering supplier network takes shape as Assystem and Amentum join
The two engineering specialists join AtkinsRéalis among 10 strategic suppliers selected to provide expertise across Babcock’s global portfolio.
ODU to reveal extended range of military connectors at DVD2026
ODU to reveal extended range of military connectors at DVD2026
At next month's DVD2026 - taking place at the UTAC Millbrook Proving Ground in Bedfordshire - ODU Connectors will be presenting new additions to its Advanced Military Connector (AMC) range.
From a washing machine to an SAS rifle: All the MoD items reported lost, missing or stolen
From a washing machine to an SAS rifle: All the MoD items reported lost, missing or stolen
According to newly released FOI data, more than 5,000 weapons, ammunition items and electronic devices were reported lost, stolen or missing by the MoD and police forces in the last five years.
UK satellite funding targets connectivity ‘not-spots’ for farmers and remote railways
UK satellite funding targets connectivity ‘not-spots’ for farmers and remote railways
British farmers and passengers travelling through remote parts of Scotland could gain better connectivity through a new £13 million package backing 16 UK satellite communications projects.
SatVu’s space-based thermal intelligence reveals status of Texan LNG terminal
SatVu’s space-based thermal intelligence reveals status of Texan LNG terminal
By using HotSat-2's MWIR sensor, SatVu has captured thermal data over the Golden Pass LNG terminal in Texas, with AllSource Analysis attributing thermal activity to the individual units and equipment within.
MDA Space opens CHORUS Control Centre
MDA Space opens CHORUS Control Centre
With the opening of its new control centre, MDA Space has moved closer to operational readiness ahead of the launch of its CHORUS satellite constellation later this year.
AI to reduce 101 wait times and free up police time
AI to reduce 101 wait times and free up police time
A new AI call-routing system for 101 will get callers to the right service faster, whilst freeing up police to focus on tackling crime.
Babcock engineering supplier network takes shape as Assystem and Amentum join
Babcock engineering supplier network takes shape as Assystem and Amentum join
The two engineering specialists join AtkinsRéalis among 10 strategic suppliers selected to provide expertise across Babcock’s global portfolio.
PM’s texts with fake White House aide raises questions over ministerial security
PM’s texts with fake White House aide raises questions over ministerial security
The Prime Minister ended the exchange after becoming suspicious, but the incident has put government communications security firmly in focus.