Babcock supports one in every 550 UK jobs says report

Photo: Babcock

The latest Oxford Economics report shows that Babcock International made a total contribution of £4.3 billion to UK GDP in 2024, a significant increase of £1 billion since 2022, and for every £1 spent with Babcock on UK defence, £3 goes back into the UK economy. Over the last two years, the company has substantially grown the number of UK jobs that it supports to 67,000 across the country, the 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 its graduate and apprenticeship programmes; an estimated total UK tax contribution of £1.1 billion, directly and indirectly; and £550 million spent with UK SMEs, supporting more than 3,800 businesses

Babcock’s chief executive David Lockwood said: “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 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 while delivering the capabilities our Armed Forces need to keep the country safe.”

Maria Eagle MP, Minister for Defence Procurement and Industry, concluded: “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 in the South West of England 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.”