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The ASX-listed firm has secured funding to further the development of its UAV technology for an international customer.
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Orbital Corporation has signed a $3.5 million second stage engineering contract with an undisclosed customer based in Singapore.
The deal involves advancing an initial engine design, development and integration contract signed in 2020 and follows the delivery and acceptance of three prototype engine systems delivered last year.
Specifically, the deal involves the design, development and production of multi-fuel UAV engines.
Orbital UAV will now be tasked with conducting further engineering work and delivering three additional prototype engine systems over the course of the 2023 financial year (FY23).
“We are delighted to move this significant program into the next stage of development,” Todd Alder, CEO and managing director of Orbital UAV, said.
“With this contract, we now have a clearly defined pathway through to production, representing an opportunity for Orbital UAV to establish itself in a new geography with growth potential in the mid-term.”
If delivery of the three additional prototypes is successful, Orbital UAV would be contracted to deliver “production-quality” engine systems in FY24.
“This contract demonstrates the material progress we have achieved with our prestigious Singapore customer and our broader customer diversification strategy,” Alder added.
“We look forward to delivering this phase of the program over the next 12 months and taking the next step towards production.”
This latest contract forms part of Orbital UAV’s broader design and production activity across UAV propulsion systems and associated proprietary componentry, including:
- fuel injection systems;
- electrical power systems;
- engine/vehicle control systems and strategies;
- engine ancillary components and systems; and
- related system software and firmware.
According to the company, these technologies can be integrated across a range of engine types — piston, rotary and hybrid engines — and all engine or vehicle size classes.
The new deal is expected to expand Orbital UAV’s international presence, building on its network across Australia and the United States.
In May, Orbital UAV signed a MoU with US-based defence technology firm Anduril, which announced its expansion in the Australian market earlier this year.
The companies agreed to collaborate “where there is a common interest” to meet customer demands.
This is set to involve executive-level engagements at least once a year to discuss “market intelligence, customer requirements and identify strategic opportunities”.
[Related: Orbital UAV, Anduril sign MoU]
