Eurofighter Typhoon fighter aircraft assembly plants at Warton and Samlesbury expected to bear brunt of job cuts.
Job cuts to be concentrated at defence giant's Warton plant in Preston, Lancashire, reports suggest.
A key attraction of UK-listed companies is that they could become takeover targets for larger US competitors
Profit before tax advanced 5.6% to £1.15bn in 2016.
Defence Secretary Michael Fallon is expected to announce the same in Scotland on Friday.
The CMA said it anticipates the BAE review to be completed in spring 2017.
The funds will be used to develop a ground-based demonstrator of its Sabre engine.
BAE Systems developed bone conduction communication systems being used by Land Rover BAR sailing team
These communication systems were originally developed for soldiers.
BAE chairman said its Saudi Arabia dealings were in accordance with the UK government's rules and regulations.
BAE Systems, Airbus and Finmeccanica seen gaining from Kuwait's $8bn deal to buy Eurofighter Typhoon jets
These jets will come with Electronically Scanned radar that allows pilots identify targets over longer ranges.
Besides major hackers, it is also targetted by cybercriminals who are less sophisticated or organised.
Tie-up follows BAE's contract to supply M777 howitzer guns.
Futuristic guns such as railguns don't use explosives or propellants but rely on electromagnetic forces.
Edmund Shing explains why you should invest in BAE Systems.
Edmund Shing believes both technology and property stocks will continue to rise in 2016.
Nato defence spending has been steadily cut back since 2009 - but that is about to change.
British company's invention will allow people to travel anywhere in the world within four hours.
Investment will give company a foothold in emerging low-cost space launch and high-speed commercial flights