Vection Technologies (ASX:VR1) lands major $1m defence pilot order

• Vection Technologies (VR1) is awarded a major defence pilot order of $1 million from an unnamed “top-ten” global defence contractor
• The order forms part of a larger tender of up to $30 million and marks Vection’s first entry into the production chain of the authorised NATO Tempest producers
• Vection hopes to establish its INTEGRATEDXR tech as a benchmark workflow to bridge the physical and digital worlds in the defence industry
• Sales to the defence, military, and law enforcement industry represented 29 per cent of overall sales in the last fiscal year for Vection
• Vection Technologies is up 14 per cent to 5.7 cents at 10:31 am AEDT

Vection Technologies (VR1) has been awarded a major defence pilot order of $1 million from an unnamed “top-ten” global defence contractor.

The order forms part of a larger tender of up to $30 million and marks Vection’s first entry into the production chain of the authorised NATO Tempest producers.

Vection said if the pilot was successful, it expected to sign subsequent order awards within the next half year.

Vection Technologies hopes to establish its INTEGRATEDXR product as a benchmark workflow to bridge the physical and digital worlds in the defence industry. This includes mission-critical ICT infrastructure, virtual reality, augmented reality, mixed reality, and the metaverse.

Sales to the defence, military, and law enforcement industry represented 29 per cent of overall sales in the last fiscal year for Vection.

Vection Technologies shares were up 14 per cent to 5.7 cents at 10:31 am AEDT.