A US-based company that manufactures a range of optical products, including fiber optics, laser systems, and screens for phones and tablets, was looking to expand its limited presence in the defense market. The Fortune 500 business asked us to explore the market and devise a strategy to grow the business in that area.
Given the company’s relatively small position in the sector, the leadership team lacked the capacity to internally develop clear understanding of the markets they wanted to expand in. They didn’t have a robust network of contacts to learn from to design a business development strategy. It was difficult for them to identify opportunities beyond current clients, and it was even more difficult to provide more integrated solutions for the government customer.
We focused on developing a variety of strategies and supported a portfolio review to help them with this challenge. We calculated potential market sizes, relevant expenditure and growth trajectories related to their aerospace and defense capabilities. We also looked at the company’s existing product lines, new and old, to explore how they could offer potential growth to the business.
We continue to give them regular updates on defense and federal policy issues, research initiatives of interest, key US and international developments, and our view of the state of the market and government spending plans.
By working closely with the executive leadership team of the business, we’ve become a trusted voice for the senior management. With our support, the business now has a better understanding of where the opportunities lie and they’re developing a tactical approach to increasing sales. We’ve made introductions to potential customers and partners and negotiations are progressing.
The company is in a great position to succeed in their plans for growth.