James Andrews, senior personal finance expert at money.co.uk, said: “Since announcing a strong start to the year, seeing sales soar to nearly £21 billion in 2020, BAE Systems are on track to continue on its upward trajectory, reporting sales of £10 billion as it enters the second half of 2021.
“Despite navigating through the challenging backdrop of the global pandemic, BAE has managed to secure multiple global contracts, including a $117 million deal with Lockheed Martin to produce next-generation missile seekers, a strong sign of continued growth.
“BAE has also benefited from contracts and partnerships aimed at furthering technological advancements in warfare. Its recent deal with the US Army will help explore crew automation and other advancements in the near future. Being seen as at the forefront of new technological trends will help BAE compete for future contracts too.
“That all combines with a strong order book for major military equipment including new nuclear submarines, frigates, fighter jets and armoured personnel carriers for governments across the world.
“But it wasn’t quite all defence, with BAE’s commitment to furthering green and electric technology generally also paying off. Its recent contract win for the ‘HybriGen’ electric propulsion yacht demonstrates BAE’s strength across all sectors.”