BAE Systems plc is the world's fourth largest defence contractor, the largest in Europe and a commercial aerospace manufacturer. BAE is a British company based at Farnborough, which has extensive worldwide interests, particularly in North America through its subsidiary BAE Systems Inc. BAE was formed on 30 November 1999 with the merger of British Aerospace (BAe) and Marconi Electronic Systems (MES), the defence arm of The General Electric Company (GEC).
BAE is the successor to many iconic aircraft and defence electronics companies, including The Marconi Company, the first commercial company devoted to the development and use of radio; A.V. Roe and Company, one of the world's first aircraft companies; de Havilland, manufacturer of the world's first commercial jet airliner; BAC, co-manufacturer of the Concorde supersonic transport; and Supermarine, the manufacturer of the renowned Spitfire. BAE has increasingly disengaged from its businesses in continental Europe in favour of investing in the United States. Since its formation it has sold its share of or dissolved the companies Astrium, AMS, Atlas Elektronik and its 20% share of Airbus SAS.
BAE Systems is involved in several major defence projects, including the F-35 Lightning II, the Eurofighter Typhoon and the Royal Navy Queen Elizabeth class aircraft carriers. BAE has been the subject of criticism, both general opposition to the arms trade and also specific allegations of unethical and corrupt practices, including the Al Yamamah contracts with Saudi Arabia that have earned BAE and its predecessor GB£43 billion in twenty years.