Translift Engineering, which manufactures the Bendi very narrow aisle forklift, has won the Queen's Award for Enterprise.
The award, for outstanding achievement in innovation, was presented to Translift chairman Freddy Brown by the Duke of Gloucester on September 16.
Mr Brown told news website icBirmingham the company, which commands 50% of the UK very narrow aisle market, won the award because of its advanced technology.
"We have worked hard at giving the industry what it wants 10 years ahead of time," he said. "We pride ourselves on producing things and watching other companies try and catch us up.
"It's great to be recognised for all our hard work with a Queen's Award as we strive to continue to be at the head of the field."
The Queen's Awards for business performance and are awarded in three categories: international trade, innovation and sustainable development. The awards are judged by a panel and awarded by the Queen with the recommendation of the UK prime minister.