A global defence, aerospace and security company. BAE Systems delivers a range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and support services. I have a holding in my income portfolio (epic code: BA.)
Lockheed Martin and the DOD have reached agreement on orders for the next two batches of F-35 fighter jets, a deal worth over $7bn. This will be good news for BAE Systems who are a major sub-contractor on this programme. The agreement covers 71 aircraft, with 60 for the U.S. military, and 11 for Australia, Italy, Turkey and Britain.
BAE Systems has the lead in manufacture of the aft fuselage, vertical and horizontal tails and wing tips, and responsibility for the fuel system, crew escape, life support, prognostics health management integration and UK aircraft carrier integration support. It also plays a key role in many other parts of the programme.
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