Britain’s naval shipbuilders and designers are looking to diversify into other markets and target international growth opportunities, as the country’s naval industry consolidates and work for the Royal Navy shrinks.

BMT Defence Services, whose predecessors have serviced the navy for the best part of a century, is on Monday designing the service’s new aircraft carriers. However, Muir Macdonald, the company’s managing director, says it needs to diversify and cannot risk having all its eggs in one basket.