Orbital UAV has announced its unaudited preliminary results for Financial Year 2020 – delivering $34M revenue and profit of $1.7M. The Company has also provided revenue guidance for Financial Year 2021 of between $40M to $50M.
Orbital UAV is the primary engine supplier to Boeing subsidiary Insitu – powering its entire fleet of tactical unmanned aerial vehicles (UAV), utilised by global defence forces. In FY20 the Company continued to build its reputation as a world leading supplier of propulsion systems, announcing new contracts with leading aerospace and defence technology company Northrop Grumman and one of Singapore’s largest defence companies.
Earlier this month the Company hosted Australian Minister for Defence, Senator the Hon Linda Reynolds CSC.