Manufacturing News

XTEK receives almost 27 million order for military drones

XTEK receives almost 27 million order for military drones

XTEK Limited has received an order for Small Unmanned Aerial Systems (SUAS) totalling 26.9 million from the Australian Department of Defence. 

The delivery of this order is expected to be completed in the second half of FY2023, with corresponding revenues recognised in the same period.

With this purchase order, XTEK’s Technology Division currently holds an order with a combined value of $35 million, with $47 million of recognised revenue for the first half of this financial year.

Scott Basham, XTEK’s group CEO, said: “XTEK is very pleased to be able to continue to provide Defence with high-end SUAS technology, and this new order for a mixed fleet of advanced AeroVironment drones, will deliver significantly enhanced tactical reconnaissance and surveillance capabilities for Defence.”

“This order, combined with the current backlog of Technology Division work that we expect to progressively deliver over the course of the next seven months, will already see XTEK achieve record turnover in excess of A$82 million for FY23,” Basham added.

“And, on top of that, should we win even just a portion of the many large scale ballistic armour opportunities we are currently pursuing around the world, then that could see the second half of FY23 become very exciting indeed.”

For more information on XTEK Limited visit here.

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