Market News

Australia’s private sector has remained in expansion at the end of the second quarter of the year, despite the manufacturing sector posting below the 50.0 neutral mark in June, according to the Judo Bank’s latest PMI report. 

Despite growing economic difficulties in the additive manufacturing (AM) global market, the first quarter of 2023 saw double-digit sequential growth to USD 3.7 billion (AUD 5.5 billion) compared to USD 3.4 billion (AUD 5 billion) during the same period of the prior quarter in, according to latest data from SmarTech Analysis. 

Rio Tinto is strengthening its position in the US copper supply chain by investing in its Kennecott mine near Salt Lake City, Utah, through funding worth $498 million intended for the development of an area known as the North Rim Skarn (NRS).

DroneShield has successfully integrated its multi-sensor DroneSentry system with Epirus’ Leonidas high-power microwave counter-electronics/counter-UAS effectors. 

Brain imaging company EMVision Medical Devices Limited has received a cash progress payment of $1,750,000 under its Modern Manufacturing Initiative (MMI) grant award.

ASX company Altech Batteries Limited has revealed the preliminary battery specifications for its CERENERGY 60 KWh and 1 MWh GridPack battery products. 

Quickstep, a leading aerospace composite business in Australia, has decided to keep its Aftermarket business as a core part of the company and is planning to enhance the business through several new growth initiatives 

A recent report from SmarTech Analysis revealed that the metal additive manufacturing (AM) services revenue is forecasted to reach USD 16.1 billion (AUD 24 billion) by 2031.

The Ai Group’s Australian Industry Index has seen a moderated contraction in May 2023 and now stands at -10.9 points, up by 9.3 from April’s steep fall, signalling deteriorating conditions in the market and the 13th month the index has been in contraction.

Pharmaceutical company Sigma Healthcare Limited has signed a binding term sheet with Chemist Warehouse for the supply of Pharmaceutical Benefits Scheme (PBS) medicines as well as Fast-Moving-Consumer-Goods (FMCG) products for a five-year period beginning on 1 July 2024.