<P> With annual revenues of $10 billion, BAE Systems Inc. contributes over a third of the parent company's global revenues and is typically ranked among the Pentagon's Top - 10 suppliers . It operates under a Special Security Agreement with a separate board of directors from the London - based parent to assure the protection of sensitive information concerning the U.S. programs in which it is engaged . Because it consists largely of legacy American enterprises, BAE Systems Inc. has more involvement in such programs than any other foreign - owned company . </P> <P> BAE Systems Inc. is led by President & Chief Executive Officer Jerry DeMuro and is headquartered in Arlington, Virginia . It maintains operating locations in 38 states, with especially large concentrations in the Northeastern and Southeasters regions of the U.S. The enterprise holds over 2,000 patents and is a dominant player in many of the markets it addresses . For example, it builds the electronic - warfare systems for the tri-service F - 35 fighter; it produces all of the vehicles in U.S. Army's Armored Brigade Combat Teams except the Abrams tank; and it is the biggest provider of ship repair services to the Navy . </P> <P> The company was created on November 30, 1999 . On this date Marconi Electronic Systems (MES) and British Aerospace (BAe) merged to form BAE Systems . Their respective subsidiaries in the USA, Marconi North America and British Aerospace North America, were similarly merged to form BAE Systems North America . </P> <P> In the company's 2003 Annual Report the Chairman sums up BAE Systems' strategy since the merger; "In recent years BAE Systems has undergone a radical transformation from a UK - based aircraft manufacturer to a broadly - based systems business . Through this transformation the company has achieved a more balanced portfolio and geographic spread ." </P>

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