Chief Fluid Systems of Chipping Norton, which has provided its products to some of Australia's Navy ships, was awarded the Outstanding Specialised Business Award out of around 40 companies and at the end of the night it was awarded the Business of the Year Award for 2017.
Director of Chief Fluid's Glen Haddon said the business was honoured to receive the awards and were shocked by how successful they were in their first year of entering.
"We were absolutely astounded by it," Haddon said.
"This is our first year of entering the awards and we were amazed, we weren't expecting anything, we were expecting to go along and have a good night but by the end of the night we were really humbled."
Haddon said awards like this are critical for SMEs as they signify that the company is ticking all the right boxes.
"In the defence sector I think it highlights that we're doing the right things," explained Haddon.
"While we and others can say we're doing the right things someone else has actually come in and someone else has said 'yeah you're doing a good job'.
"I think in the defence sector... this is sort of the crown jewels... i think it gives you a bit more traction.
"SMEs can be seen as fly by night or some have trouble gaining traction and i think things like this really help SMEs get traction through the recognition of greater business minds.
Chief Fluid offers military specification hose and fitting products and, in Australia, has alliance agreements with Eaton Aeroquip/Vickers, Hydrasearch Company, Cla-Val, Bosch Rexroth and ContiTech Australia.
The business is a hose supplier to the Air Warfare Destroyer project and acts as a supplier to some of Australia's largest defence primes, including BAE Systems Australia and Thales.