BAE Systems Wins $780m US Military Contract
March 24, 2013
BAE Systems has been awarded a new contract from the US military worth up to $780m, in a rare spending boost from its largest single customer.
The US is BAE's biggest market but the defence contractor has warned it faced weak demand from across the Atlantic due to the scaling back of operations in Iraq and Afghanistan, as well as public spending cuts.
These factors have affected BAE's performance in the UK, where the group is grappling with the consequences of a sustained reduction in spending by the Ministry of Defence.