Lanark’s aerospace company plans to increase turnover to £20m

William Martin, MD of Martin Aerospace
William Martin, MD of Martin Aerospace

A Lanark-based business, Martin Aerospace plans to triple its sales and create new jobs after being selected for a UK aerospace industry-led competitiveness improvement programme.

Working with Sharing in Growth (SiG) business transformation experts, Martin Aerospace will implement a new business growth strategy. This will help the Lanark-based company to achieve its ambitions of increasing turnover from £7.25 million to £20 million in the next five years, creating between 20 and 50 new jobs including an expanded apprenticeship scheme.

Martin Aerospace was founded 25 years ago and supplies thousands of machine engineered components, such as engine fastenings and crankshafts, to aerospace companies such as Rolls-Royce and Pattonair.

Said managing director William Martin: “Having established a reputation for quality and delivery, We have grown to 80 employees and now wants to accelerate our business growth. This programme will help develop Martin Aerospace to become more competitive so that we can win £20 million in contracts by 2022.”

Specifically, Martin Aerospace will work with SiG to increase business with current customers and win new business by focusing a new strategy deployment system towards meeting growth goals. This will include reviewing the processes for business development, capacity scheduling, investment in new technology and new product introduction, moving to a cellular factory layout and ensuring the company culture engages staff in Martin Aerospace’s vision, mission and values.

The programme helps aerospace supply chain companies to improve their productivity and competitiveness so they are better placed to win a share of continued growth in the global aerospace market.

Said SiG CEO Andy Page said: “With the commercial aircraft order book at a record high, the UK has a huge opportunity to increase its share of the global aerospace market. Increased productivity, skills and capability are essential for ambitious suppliers, like Martin Aerospace, to win the worldwide competition on quality, cost and delivery.”