- Orbital UAV (OEC) secures a new $1.1 million customer contract for the manufacturing and supply of heavy fuel engine systems, spare parts, and technical support
- The engines will be delivered in the second half of FY24 to Finance International PL – a defence agency organisation
- The demand for tactical UAV capabilities continues to grow across the globe, particularly in the Asia Pacific
- Orbital UAV believes it is at the forefront of delivering cutting-edge propulsion solutions to meet the evolving needs of the industry
- OEC shares last traded at 15 cents
Orbital UAV (OEC) has secured a new customer contract worth $1.1 million for the manufacturing and supply of heavy fuel engine systems, spare parts, and technical support.
The company announced Finance International PL, a defence agency organisation, as its newest customer.
Under the agreement, OEC-designed engines for unmanned aerial vehicles (UAVs) will be delivered to Finance International PL in the second half of FY24.
“This latest order for our heavy fuel UAV engines demonstrates the growing reputation of our established product range and continues to expand our global customer footprint,” Orbital UAV CEO and Managing Director Todd Alder said.
“We continue to witness the increasing strategic significance and growing demand for tactical UAV capability around the globe, and particularly the Asia Pacific region.
“Within APAC, several nations are exploring or developing their own sovereign capability in the tactical UAV domain.”
As the demand for tactical UAV capabilities grows across the globe, Orbital UAV believes it is at the forefront of delivering cutting-edge propulsion solutions to meet the evolving needs of the industry.
Under this particular contract, all manufacturing work will be carried out at OEC’s Western Australia facility.
OEC shares last traded at 15 cents.