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.
The Virginia Solution
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 the company grew its international sales by an impressive 48 % during its two years in the VALET program.
Reaching New Heights in Virginia
Today, MAG Aerospace operates in 17 locations across five continents and has opened offices in South America, Dubai, Toronto, Australia, and New Zealand. Through its international wins and acquisitions, MAG has grown to over $200 million in annual revenue and quadrupled its headcount to more than 900 employees.
In August 2018, the company relocated its headquarters to a 26,000-square-foot space in Fairfax County, Virginia, representing a $5.5 million investment and 120 new jobs. The facility provides ample room for MAG’s existing employees and the ability to keep pace with a rapidly growing workforce.