The Pennant International Group

What The Pennant International Group does

The Pennant International Group plc (AIM: PEN) is a UK-headquartered supplier of integrated training and support solutions for the lifecycle of complex assets, principally serving defence departments and major OEMs. The company operates three business lines: (i) the Auxilium software suite, an Integrated Product Support (IPS) platform composed of GenS (Analyse and Record), Analyzer (Modelling and Intelligence) and R4i (Authoring and Publishing, aligned to S1000D), sold on a multi-year licence and services basis; (ii) Track Access Productions, a UK rail services division offering driver training, route learning, training videos and railway survey/signal sighting, acquired in April 2023; and (iii) Pennant Training Systems, which provides hand-skills, part-task, procedural and full-system trainers to defence and aerospace customers. The group has eight offices across the UK, Canada, Australia and the United States and serves customers such as the Canadian Department of National Defence and global industrial partner Siemens.

The company makes money through a mix of recurring software licences and multi-year IPS services contracts (Software & Services), one-off sale of physical training equipment (Training Systems), professional services in rail (Track Access), and a newer Conversion Services line branded ConvertWise, which combines Intelligent Process Automation with human quality assurance. Go-to-market is primarily direct enterprise sales to defence departments and OEMs, supplemented by a global partnership with Siemens for distribution of Auxilium-GenS. FY2025 revenue was £9.7M (down from £13.8M in FY2024, characterised as a 'reset year' following unexpected defence contract delays and a major Training Systems restructure), with H1 2026 revenue of £5.9M (+31% YoY), gross margin expanding to 53% from 45% and adjusted EBITDA turning positive.

Name

The Pennant International Group

Legal name

Pennant International Group PLC

Website

https://pennantplc.com

Company type

Public

Founded year

1959

Operating status

Operating

Headcount range

101–250 employees

Short description

Pennant International Group plc (AIM: PEN) supplies integrated training and support solutions to defence departments and major OEMs worldwide, built around its proprietary Auxilium IPS software suite (GenS, Analyzer, R4i), UK rail services (Track Access) and physical training systems.

Ownership category

akta.pro rank

Product category

Systems Support Software

NAICS

Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511), Aerospace Product and Parts Manufacturing (33641)

SIC

Aircraft Parts & Auxiliary Equipment, Nec (3728), Search, Detection, Navagation, Guidance, Aeronautical Sys (3812)

akta.pro primary industry

Combat & Auxiliary Naval Vessel Systems (IMABAKAA)

akta.pro secondary industry

Naval C4ISR, Communications & Electronic Warfare (IMABAKAE)

Keywords

• Systems support software
• Integrated product support
• Defence training solutions
• Technical publications software
• Rail industry services

Headquarters

HQ city

Cheltenham

HQ country

United Kingdom

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Software & Services (IPS): Recurring software licences and services related to the Auxilium suite (GenS, Analyzer, R4i), including multi-year IPS services contracts with government customers.
2. Training Systems: Sale of training equipment including hand skills trainers, part-task trainers, procedural trainers, and system trainers to defence and aerospace customers.
3. Rail Services: Services provided through the Track Access subsidiary, including driver training, route learning, training videos, and railway survey and signal sighting.
4. Conversion Services: Technical manual conversion services using Intelligent Process Automation — new ConvertWise service launched and first sale to North American military customer.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Pennant International Group provides systems support software and training solutions to defence departments and major OEMs worldwide, helping them maximise operational efficiency across the design, development, operation, maintenance and training of complex assets. Its flagship offering is the Auxilium® IPS software suite (GenS, Analyzer, R4i) supplemented by physical and virtual training hardware (hand skills, part-task, procedural and system trainers), and UK rail industry services via its Track Access Productions subsidiary.

Product overview

Pennant International Group provides a unified platform-plus-modules architecture centred on its Auxilium IPS (Integrated Product Support) software suite, which integrates three core modules — GenS (Analyse and Record), Analyzer (Modelling and Intelligence), and R4i (Authoring and Publishing) — into a single integrated solution for defence and aerospace customers. The company also operates two complementary divisions: Track Access (rail industry services including driver training, route learning, and railway surveying) and Pennant Training Systems (physical and virtual training hardware including hand skills trainers, part task trainers, procedural trainers, and system trainers). Additionally, the company offers conversion services that combine Intelligent Process Automation with human quality assurance. The three divisions together support the design, development, operation, maintenance, and training of complex assets to maximise operational efficiency.

Differentiator

Problem solved

Functional benefit

Brands

• Auxilium®: Pennant's leading systems support software suite for integrated logistics support and technical publications, including GenS, Analyzer, and R4i products.
• Pennant Training Systems
• Track Access

Products and services

• Auxilium IPS Solutions Pennant's leading integrated systems support software platform for Integrated Product Support (IPS), comprising three integrated modules — GenS, Analyzer and R4i — covering the design, development, operation, maintenance and training lifecycle of complex assets for defence, aerospace and rail customers.
• Track Access rail services Rail industry services division with over 65 years of experience, offering driver training, route learning, training video production, railway survey and signal sighting for the UK rail network.
• Pennant Training Systems Training solutions division providing hand skills, part-task, procedural and system trainers (physical and virtual) for defence and aerospace applications.
• Conversion Services (ConvertWise) Technical documentation conversion service that blends Intelligent Process Automation with human quality assurance to transform legacy technical manuals; first sold to a North American military customer.

Quantifiable outcome

• Revenue up 31% year-over-year to £5.9 million in H1 2026, with gross margin improving to 53% from 45%
• +1 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• SiemenscoreStrategic or Co-development Partner · 14 July 2025Pennant has a global partnership with Siemens for the distribution and sale of Auxilium-GenS. In June 2026, the first Auxilium-GenS sale was secured via this partnership to a North American digital engineering customer supporting defence, national security and space domain missions. The Siemens partnership is a key growth lever cited by management for H2 2026 and beyond.
• AquilacoreStrategic or Co-development PartnerNew strategic partnership announced via RNS on 11 September 2023. The nature and scope of the partnership is described as strategic, though full details are not available in the source material.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• CAE Inc. CAE is a global leader in training systems and simulation for civil aviation, defence and security, making it a direct competitor to Pennant Training Systems for part-task, procedural and full-system trainers in defence and aerospace.
• Elbit Systems: Elbit Systems operates a dedicated training and simulation business (including part-task and full-mission trainers) and supplies integrated logistics support to defence customers worldwide, directly competing with both Pennant Training Systems and Auxilium.
• Systematic A/S: Systematic provides defence software (C2, C4ISR, electronic warfare) including integrated logistics support tooling, making it a direct software-side competitor to the Auxilium suite in the same defence and naval customer base.
• Cohort plc: Cohort is a UK AIM-listed defence technology group with subsidiaries in sensors, training and support software, making it a closely comparable peer in size, listing and customer mix (UK MoD and allied defence departments).
• Ultra Electronics Holdings: Ultra is a UK-listed defence electronics, software and training group whose integrated logistics support, sonar and combat systems businesses directly overlap Pennant's defence IPS software and training solutions portfolio.

Broad incumbents

• BAE Systems: BAE Systems is a large incumbent defence prime with deep relationships across UK, US, Canadian and Australian defence customers and operates in-house IPS, training and support capabilities that overlap Pennant's portfolio at the prime/contractor level.
• QinetiQ Group: QinetiQ is a larger UK-listed defence technology and training services group; its integrated lifecycle support and training capabilities overlap Pennant's offering but as part of a much broader portfolio rather than a focused IPS niche.
• L3Harris Technologies: L3Harris is a major US defence prime with significant training and simulation, avionics and integrated logistics support businesses, overlapping Pennant's defence/aerospace training and IPS software offerings within a much wider portfolio.
• Saab AB: Saab delivers naval combat systems, training systems and support solutions to defence customers; its naval C2 and integrated support tooling compete for the same naval IPS programmes (e.g., Canadian DND maritime) as Auxilium.

Emerging players

• PTC Inc. PTC's Windchill PLM/ILS and Servigistics service-life management tools are widely used in defence and aerospace integrated logistics support, making them an emerging software competitor to the Auxilium suite across the same asset lifecycle.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCWKOKyn8TJWpmQ1KjLu3RJw
• LinkedInlinkedin.com/company/pennant-training-systems-limited
• Xx.com/pennantplc

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Pennant International Group