I think theres a few factors here, long-ish post:
A--He seems to have a clear plan for each player coming through the youth teams which involve loans mostly and game time (as you mention). Theres going to be exceptional cases with players like Galloway but even with him Martinez alluded to him now being a first team player and gave him a new contract so it appears that perhaps he may have been set for a loan himself if circumstances were different.
B-- I like the signing of "Matty Foulds" because of the explanation given that we are very strong in the youth teams apart from that LCB position. I think this could be a result of Galloway stepping up and then others below then stepping up too leaving a spot -- hes brought him in very quickly as well which shows he is proactive even in the youth levels.
C-- The problem with the defence is a few things i think:
1-- Tim Howard
2-- No left midfielder so LB exposed
3-- Injuries to Baines/Coleman/Jagielka
4-- Funes Mori adapting
5-- Stones needing to help Mori
6-- Stones at 21 and Mori only 24
Seems like limited stability. I think ignoring the injuries it can be said that the backup-- Galloway/Mori/Browning(now injured) have limited experience which affects the whole defence.
D-- Gareth Barry being so slow. Hes a good player but without McCarthy next to him i think hes ineffective as teams can pass around or run through him. Cleverley shouldnt be next to him, id think Besic is more suited as the defensive "legs". My preference is McCarthy in DM with another CM brought in.
E-- McCarthy has been out of form and then as hes looking back to his old self hes injured against Bournemouth when we were 2-0 up then they just go straight through us. Without him theres no mobile defensive midfielder other than Besic who isnt getting a game.
Additonally although good players, Baines, Jagielka, Coleman and Howard are not Martinez signings. Perhaps he wants to have different players here who fit in better with his style? He wanted Stones before and has signed Galloway and Mori so has the eye for a good player.
Looking at the squad i think he's happy with;
Galloway
Mori
Stones
McCarthy
Barkley
Deulofeu
Lukaku
Barry
Those are "his" type of players. Then add in these players who are great individuals but we dont know if they are exactly what he wants; Baines,Jagielka, Coleman.
We then have:
Howard
Robles (his signing as backup)
Oviedo
Garbutt
Hibbert
Gibson
Osman
Pienaar
McGeady (his signing as backup)
Naismith
Mirallas
Kone (his signing)
Lennon (his signing as backup)
With the exception of McGeady his signings are all backup players. The rest of them (excluding Garbutt) are out of contract or available for sale (as he stated).
This being the case, i think we are yet to actually see what type of team he wants to put out as we have so many non-Martinez players and so we dont know what exact system he wants or what he will do about the defence...either by changing the midfield shape or changing the players in goal/defence.
@davek made a good point about Browning and Galloway making us look far better defensively than Baines and Coleman...it could be that although Martinez is attack minded he needs defensive full-backs.
Anyway,what im trying to say is that whilst players themselves need development time, the defensive unit also needs the same and this will come when Martinez brings in his own players...look at the old Arsenal side they kept keeping clean sheets as they were all part of a unit long term.
With Galloway, Mori,Stones,Browning i go back to the ages again...if they played together for a couple of seasons they "may" be better than with top individuals like Baines and Coleman...
Key is getting in the right players and developing them as individuals and part of a unit. He needs time to totally reshape the squad...i think 5 seasons from when he joined....
I think things are going well, he's pushing them up the age groups early and getting them out playing mens football at a good age with a clear path of progression to the first team if they impress, with the crop coming through hopefully we can get a few through in the next few years and lessen the burden in the transfer market. My concern however is that he needs a quality defence minded coach alongside him balancing out his defensive weaknesses otherwise it won't matter how well our defenders develop if our defensive tactical set up remains incompetent.