Orbital Corporation Limited (AU:OEC) has released an update.
Orbital Corporation Limited, known as Orbital UAV, has entered into a collaboration with Dynamatic Technology to incorporate its 150cc Heavy Fuel Engine into a UAV platform, aiming to supply to the defense sector. This partnership, facilitated by a Memorandum of Understanding, promises to showcase Orbital UAV’s advanced engine capabilities and marks a significant move towards a long-term engagement in a strategically important market. The initial test engine orders, amounting to $0.2m in revenue upon successful delivery in November 2024, highlight the economic potential of this venture.
For further insights into AU:OEC stock, check out TipRanks’ Stock Analysis page.
