The Bridgnorth-based company received the innovation award specifically for its work on 'Next Generation Castings'.
It developed the castings in response to the challenges faced by the global transport industry in terms of reducing emissions and fuel consumption.
The automotive market is driving towards ever more complex and structurally sound castings, particularly in high performance aluminium alloys, the company said. In achieving the award, Grainger & Worrall has been recognised for the innovation and expertise it brings to the highest performance applications in motorsport, automotive and prototyping across many industries.
The development of Next Generation Castings supports the transition from internal combustion engine to electrification, provides complex structural components, and allows customers the ability to design metal shapes which otherwise would be impossible to imagine.
The developments have significant positive impacts on the environment, with customers being able to develop smaller and higher output drive units, the firm added.
The Queen’s Award was presented to Grainger & Worrall last Wednesday by Shropshire's Lord-Lieutenant Anna Turner.
Grainger & Worrall’s managing director, Edward Grainger, said: “We’re honoured to have been awarded the Queen’s Award for Enterprise, for an incredible third time. As a company, Grainger & Worrall are committed to leading in the changing manufacturing market, and this award highlights our continued dedication to expertise, innovation and adaptation in sand castings. Achieving the award is very much a company-wide, team effort and we could not be more pleased that we have been recognised again."