A global aerospace and defence parts manufacturer with a workforce of over 650 in the South West has reported a strong year of revenue growth.
Ontic has established a significant presence over the past decade, supplying complex engineered parts and repair services for aircraft across both commercial and defence sectors. The company employs 659 staff across three Gloucestershire facilities and has achieved annual growth of between 15 and 17 per cent in recent years, with ambitious plans for further expansion.
The firm serves more than 5,000 customers worldwide, including Airbus, Emirates, and British Airways. Ontic is part of the Ontic Group, led by Typhoon Acquisition Bidco Limited, which consolidates the company’s financial results as the largest entity in the group.
Newly filed accounts for Ontic Engineering & Manufacturing UK Ltd for the year ending 31 December 2024 show turnover of $251.5m, up from $167.9m in 2023. The company attributed the increase in revenue to continued growth from existing intellectual property alongside incremental gains from investments in new IP.
Despite strong revenue growth, pre-tax profits fell to $9.2m from $36.4m the previous year. A statement accompanying the results noted that the company expects to maintain material revenue growth in 2025, driven by both its existing portfolio and new licence and business investments.
“The near-term outlook is underpinned by a strong orderbook in both military and civil markets,” the statement added. It also confirmed ongoing discussions with new and existing OEM partners regarding licence opportunities, with a robust pipeline expected to support growth throughout 2025 and beyond.
The results highlight Ontic’s continued focus on expanding its global aerospace and defence footprint while leveraging both established and new technologies to support long-term growth.
