The United Kingdom’s largest defense firm experienced record orders as the Russia–Ukraine war boosted military spending in 2022.
British defense giant BAE Systems said on Feb. 23 that orders for weapons systems soared last year amid an “elevated threat environment” in the wake of Russia’s invasion of Ukraine.
The group is one of the largest builders of naval ships, submarines, and fighter jets in the world. The defense contractor’s biggest customers are the United States, Britain, Saudi Arabia, and Australia. BAE reported its highest order intake in its history, at $44.6 billion for last year, as its order backlog jumped to $70.8 billion….