UK
Babcock is a significant employer and a key driver of the UK economy.
We work across all our markets and sectors in the UK. Headquartered in London and with dockyards, specialist training facilities, equipment testing centres and research and development facilities and offices across England, Scotland, Northern Ireland and Wales.
We are committed to making a positive contribution to the communities in which we operate by providing high-quality jobs and delivering social and economic sustainability.
A report by Oxford Economics into Babcock’s social and economic contribution to the UK highlights our critical role in the UK defence sector and how we support the levelling up agenda across the UK by investing and supporting employment in the most deprived areas. The report also finds that in the 2024 financial year, Babcock contributed £4.3bn in GDP to the UK economy and £1.1 billion in UK tax revenues. See below for more key findings.
The contribution of Babcock to the UK economy
Economic impact
Direct
Indirect
Induced
£4.3bn
Total UK GDP contribution
£1.4bn
£1. 3bn
£1.5bn
67,000
Total UK jobs supported
25,400
22,000
19,600
£1.1bn
Total UK tax revenues
£330m
£320m
£430m
Impact in south west England and Scotland
Scotland
£510m
total contribution to GDP
9,500
jobs supported
South West England
£1.3bn
total contribution to GDP
21,500
jobs supported
Results relate to the 2023 financial year which ran from 1 April 2023 to 31 March 2024
Business area economic impact
Nuclear
£1.9bn
contribution to GDP
30,200
jobs supported
Marine
£1.3bn
contribution to GDP
20,400
jobs supported
Land and Aviation
£1.1bn
contribution to GDP
16,400
jobs supported
Socio-economic impact
503 graduates and 1,273 apprentices in training schemes
£337m spent with 2,220 SME suppliers.
£420m spent with suppliers in local authorities classified as a high priority” for regeneration.
3000 people directly employed and £350m spent with suppliers in the 20% most deprived local authority areas in the UK.
In the South West of England region:
£1.3bn contribution to GDP
Employed over 12,000 staff in the region in FY2024.
Paid £290m to suppliers, and £540m paid to workers in the region.
Sustained nearly 21,500 jobs in the region.
In Scotland:
£510m contribution to GDP
Employed 5,400 workers.
Paid £150m to suppliers and just under £260m to staff.
Supported 9,500 jobs either directly or through supply chain and worker-spending effects.
