Investing in sustainable growth and resilient performance
What we do
We are a specialist manufacturing and technology business with unique market positions at the heart of national security, defence and space sectors. We work with our customers globally helping to protect their people, assets and nations, where agility, expertise and innovation are key to meeting their complex and evolving needs.
We enjoy market-leading positions, often sole source and qualified on a particular platform, with a wide range of governments and blue-chip companies around the world. Our core competencies include:
- The manufacture of specialist materials and devices – military explosives, propellants and pyrotechnic actuators that are used in a wide variety of applications, from artillery rounds and strike missiles to aircrew escape systems and heavy launch space vehicles.
- Supporting UK intelligence and law enforcement agencies with operational mission support and active cyber defence.
- Advanced defence technologies including tactical electronic warfare, counter drone and digital battlefield command and control systems.
- Global leader in the manufacture and development of advanced countermeasures to protect air and naval platforms from the threat of missiles.
- Highly effective detection systems for the US military to counter the threat of biological warfare agents.
With significant exposure to both short-cycle munitions rearmament and longer- cycle structural changes in defence technology requirements, Chemring is well placed to capitalise on growing European and US defence sector budgets.
Strategy
Our strategy, which is based around the strategic imperatives of Grow, Accelerate and Protect, is also focused on long-term partnerships, technical excellence and a commitment to protecting lives through relentless innovation.
Business model and culture
Our business model is built around high barriers to entry and engineering expertise, sole source positions and enduring customer relationships. Over 60% of our revenue is sole source, reflecting our embedded role in critical platforms, on which you often have to be qualified, and our global reach. Our people operate in high-hazard environments with a culture of safety, precision and accountability.
Long-term growth drivers
We focus on niche, high-margin markets with global reach and high barriers to entry – including advanced sensors, electronic warfare, cyber and energetic materials. These sectors benefit from resilient, long-term demand, underpinned by rising defence budgets, geopolitical tensions and the need to modernise and increase industrial capabilities across NATO and allied nations. Our sole source positions and technical barriers to entry underpin strong customer loyalty and premium margins.
Performance-driven value creation
With durable top-line growth, strong and expanding operating margins, excellent cash generation and a robust balance sheet, we are well positioned to deliver superior and sustainable shareholder value. We target mid-single-digit revenue growth in the near term, accelerating to low-double-digit growth as new capacity comes online. Our ambition is to reach £1bn in annual revenue by 2030.