The company has experienced double-digit revenue growth, with orders and bookings also more than doubling in the last year. Recently formed partnerships with a number of organisations seeking high-specification armoring at affordable prices, backed by sufficient production capacity to deliver the large quantities and variety of vehicles they need, have contributed substantially to the company’s development.
A key factor has been STREIT’s successful expansion into military as well as commercial markets. While existing APCs (armored personnel carriers) such as the Typhoon, Spartan, Cougar, Puma and Cobra have continued to generate good profits, the launch of further APCs including the Shrek, Warrior and Varan along with new variants of each platform, has reinforced STREIT’s leading position in the armored vehicles market.
Essential to STREIT’s product development is its R&D department, whose staff include 16 design engineers from Europe with many years of experience in working on armored vehicles. This R&D team handles more designs and vehicles than any other manufacturer. Its work includes constantly searching for innovations that will improve armoring while at the same time reducing overall weight. As well as designing, developing and manufacturing prototype tracked vehicles, STREIT also modifies existing vehicles to incorporate design improvements and to adapt them for different roles.
At present STREIT Group has 12 strategically placed, state-of-the art production facilities worldwide. Its strongest growth has been in Africa and the Middle East, but it is also penetrating significantly into the APAC (Asia-Pacific) and CALA (Caribbean and Latin America) regions and Eastern Europe. It is looking to add to its manufacturing capability in more countries, with the aim of increasing supply chain effectiveness and fulfilling its goal of creating a truly global brand.
STREIT Group’s Chief Executive Guerman Goutorov says: “We now have a firm foothold in many new markets and our brand awareness is undoubtedly becoming global. It will not be long before we have multiple strategically placed facilities within the APAC and CALA regions to support our local customers.”
He adds: “We are bucking the current trend in the military world. All the news we hear seems to be doom and gloom. Every other day, long-established vehicle manufacturers seem to be either reducing head count or closing factories. Our recipe for success is simple: listen to what the customer wants, make it affordable and make it available on a short timescale.”