Case Studies MAG Aerospace
MAG Aerospace’s International Contracts Soar through Virginia Export Program
Exploring Global Markets
Founded in 2010, MAG Aerospace delivers manned aerial surveillance, unmanned aircraft systems, aviation training, and technical services to government and commercial customers around the world. MAG Aerospace has a global reputation for excellence in providing aerial surveillance and situational awareness services that make the world smaller, safer, and less uncertain. The Woodbridge-based company received the Commonwealth of Virginia Governor’s Award for Excellence in International Trade in 2016.
When faced with the pressures of sequestration in 2012, MAG Aerospace turned to the global marketplace, which demonstrated increasing demand for the company’s capabilities. MAG recognized the opportunity to win longer-term international contracts, which would provide more certainty than intensely competitive and shorter-term U.S. Department of Defense contracts.
VALET Program Drives International Growth
In January 2014 MAG Aerospace accelerated its international efforts by joining VEDP’s flagship, two-year Virginia Leaders in Export Trade (VALET) program, which assists companies in the Commonwealth that are committed to international exporting as a growth strategy. The VALET program offers export planning services and assistance from a team of experienced global service providers, including attorneys, web designers, bankers, translators, accountants, and freight forwarders who contribute essential expertise to assist companies in executing export plans.
MAG Aerospace officials participated in more than a half dozen VEDP-sponsored trade missions and air shows, and during its two years in the VALET program, the company grew its international sales by an impressive 48 percent. Today, the company operates in 12 locations across five continents and has opened offices in South America, Dubai, Toronto, and Australia.
MAG Aerospace has many impressive accomplishments. However, the company’s most remarkable achievement is that it has expanded in both headcount and revenue every year since sequestration began. Through its international wins and acquisitions, the company has grown to over $200 million in annual revenue and quadrupled its headcount to more than 900 employees.