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BAE Systems to amass €1 billion through German order of Eurofighters

BAE Systems to amass €1 billion through German order of Eurofighters
BAE Systems to amass €1 billion through German order of Eurofighters

According to reliable sources, BAE Systems plc, a British multinational defense, aerospace and security company, is expected to announce an inflow of around €1 billion from a German government order of 38 Eurofighter Typhoon jets.

For the uninitiated, the Eurofighter Typhoon is one of the world’s most powerful and reliable swing-role combat aircraft which can reach speeds up to twice that of sound. Since its launch in 2003, more than 660 jets have been ordered from several countries including Italy, Kuwait, Germany, and Italy.

If reports are to be believed, the order from the German government is worth €5.4 billion and the aircrafts will be assembled at Airbus factories in Manching, a municipality in the state of Bavaria. However, significant parts of the aircraft such as jet tails and fuselages will be manufactured in BAE System’s Typhoon plant in Warton.

The company claims to have kept its manufacturing facilities running amidst the ongoing COVID-19 pandemic. Moreover, BAE Systems reportedly welcomed the German deal as it allowed the company to raise profits after the monetary repercussions it faced during the outbreak of the Coronavirus.

Charles Woodburn, CEO of BAE Systems, was reported saying that the company’s capabilities are well acknowledged in the defense & aerospace sector. BAE Systems recognizes its role in not only enhancing national security, but also providing economic aid to the countries it operates in, he added.

It is to be noted that government defense orders accounted for around 90% of BAE Systems’ business, whereas the other 10% includes services for aerospace equipment manufacturers as well as commercial airline companies. Recent contracts undertaken by the company include the supply of a missile-defense system and self-propelled howitzer guns along with maintenance and repair work of U.S. ships.

Source credits: https://www.thetimes.co.uk/article/bae-systems-takes-off-after-1bn-boost-from-german-order-klmlcqvb6