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An announcement from Orbital Corporation Limited ( (AU:OEC) ) is now available.
Orbital Corporation has secured a purchase order worth about A$600,000 from a U.S. unmanned aircraft systems company for five 150HFE heavy fuel engines, diagnostic and power management tools, and related engineering services. The engines will support a Group 3 long-endurance UAS platform that has already demonstrated a 24-hour continuous flight and holds a commercial BVLOS clearance in U.S. airspace.
The deal is positioned as a strategic step toward a potential Power by the Hour service model linked to a major U.S. Coast Guard COCO UAS ISR program that could require up to 80 systems. If the customer wins work under the long-term agreement, Orbital aims to transition from one-off hardware sales to recurring PBH contracts covering engine support and replacement, potentially tripling lifetime revenue per engine and strengthening its recurring revenue base by FY2027.
More about Orbital Corporation Limited
Orbital Corporation Limited is a Perth-based designer and manufacturer of integrated heavy fuel propulsion systems for Group 2 and Group 3 unmanned aerial vehicles. With more than four decades of engineering experience and over 1.2 million in-field service hours with Tier 1 defence customers such as Boeing Insitu and Textron Systems, the company is a recognised global leader in UAV heavy fuel engine technology focused on defence and long-endurance applications.
Average Trading Volume: 602,327
Technical Sentiment Signal: Buy
Current Market Cap: A$32.23M
Find detailed analytics on OEC stock on TipRanks’ Stock Analysis page.