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Meggitt reports 23% increase in 2019 defence orders

26 February 2020
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Meggitt has reported a 10% year-on-year increase in orders in 2019, including a 23% uptake in its defence business.

The British aerospace and defence sub-system developer’s annual financial results that cover the period ending 31 December 2019 were released on 25 February and reported GBP2.47 billion (USD3.15 billion) in orders, up on the GBP2.24 billion recorded in 2018.

Reported revenues, meanwhile, grew by 9% across the company to GBP2.28 billion, and 13% in the defence business line to GBP824.6 million.

This equates to the defence business accounting for 36% of the company’s revenues in 2019, with 73% of these sales for US customers, 17% for those in Europe, and 10% to the rest of the world.

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