This article was written with the assistance of A.I. technology, and has been edited and fact-checked by Melly Alazraki.

BAE Systems is one of the largest arms manufacturers in the world and one of the few that compares to U.S. arms companies in terms of size and revenue.

The London-based company generated $26.0 billion in arms-related revenue in 2021, which accounted for 96.9% of its total revenue, according to the Stockholm International Peace Research Institute’s report “The SIPRI Top 100 Arms-producing and Military Services Companies, 2021.”

BAE Systems is one of the largest suppliers of military equipment to the U.K. government and has a significant presence in the U.S. market as well. In recent years, the company has been involved in a number of high-profile contracts, including being part of the development of the Lockheed Martin F-35 fighter jet and the development of the Queen Elizabeth-class carriers.

The publicly-traded company’s main markets include the U.S., the U.K., Saudi Arabia, and Australia. And according to several financial analysts, it has a strong balance sheet. BAE Systems has also been able to acquire a number of smaller companies in the past two decades, which has helped to expand its product range.

BAE Systems is a major player in the global arms industry and could capitalize on the projected boost in global defense spending in the wake of Russia’s invasion of Ukraine.

Click here to see which countries have the largest weapons manufacturers outside the US.

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