Icon Aerospace Technology on course to double in size

A Retford based manufacturer is on course to double in size after reporting an additional £53 million worth of new and retained contracts.

Icon Aerospace Technology say the successful growth is down to a ‘Continuous Improvement’ programme it implemented one year ago.

And they are expecting to double in size by 2019.

The business, who make parts for the likes of Rolls-Royce, Airbus and Boeing, was selected to join a Regional Growth Fund sector initiative after being identified as a leading aerospace manufacturing supplier.

The initiative is backed by Sharing in Growth (SIG) – a Government enterprise aiming to further UK aerospace businesses globally.

The innovative programme aims to raise the capability of UK aerospace suppliers to share in the anticipated growth of the global aerospace market

And the firm say this has helped lead to a 33 per cent improvement in production rates, a 20 per cent point improvement in yield, and a turnover growth of 29 per cent.

As a result, Icon has secured new and retained contracts to the value of £53million.

Icon supplies products such as composition polymer seals and ducting as well as in-flight refuelling hoses to several leading aerospace companies, across the USA, UK and mainland Europe.

And now it wants to further expand its market presence, estimating that by 2019, 75 per cent of new commercial aircraft will have one of its parts installed.

Tim Pryce, CEO of Icon Aerospace Technology, said: “One year on from the launch of our Continuous Improvement programme, i4, and with our partners from SiG, we can see the benefits that have been created for the company.

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