iscover
Perth-based Orbital UAV has released its results for FY20, which outlined a strong showing in the year leading up to 30 June 2020 despite the effects of the coronavirus pandemic.
In a statement released to the public, the company said that it has been able to deliver $34 million revenue and profit of $1.7 million.
Even in the face of a global downturn in manufacturing, the unmanned aerial vehicle (UAV) market has continued to grow – with Orbital at the heart of Australian sovereign capability in the space.
Since the outbreak, the company has signed international supply agreements with Northrop Grumman as well as an undisclosed Singaporean customer.
In documents provided together with the FY20 results, the company has also released revenue guidance for financial year 2021 of between $40 million and $50 million.
Backed by 30 years of experience in the engine design space, Orbital is now the primary engine supplier to Boeing subsidiary Insitu – powering its entire fleet of tactical UAVs.
A closely-integrated international supply chain network and a patented heavy-fuel injection system has enabled the company to grow rapidly over the course of a few years, expanding into UAV-adjacent areas such as real-time propulsion system diagnostics.
Earlier this month, the company hosted Australian Minister for Defence Linda Reynolds.
Want to see more stories from trusted news sources?
Make Defence Connect a preferred news source on Google.
Click here to add Defence Connect as a preferred news source.
