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.

Creating prosperity, together

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.

Oxford Economics report

Read the full Oxford Economics report to find out more about our contribution to the UK

5 MB

Infographic

View our infographic to see a visual summary of the key report findings

320 KB

Executive summary

Read the executive summary of the report for an overview of how we are creating prosperity together

588 KB

Previous years

Oxford Economics Report (2022)

Infographic (2022)

Executive Summary (2022)

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