Market News

ASX-listed international defence industry company XTEK Limited secured a $3.4 million order contract with the Australian Department of Defence for the delivery of spare parts in support of its existing Small Unmanned Aerial Systems (SUAS) fleet.

Australia’s manufacturing sector remained in expansion in February, but growth lost momentum as new orders slowed and output edged into contraction, according to the latest Purchasing Managers’ Index (PMI®) data released by S&P Global.

ASX-listed cold spray additive manufacturing company Titomic is the latest addition to SAE International’s sponsors for the development of SAE Cold Spray AM Specifications. 

Global mining company Orica has appointed Kim Kerr as its new chief financial officer, effective 11 October. 

Australian drone manufacturer Orbital UAV said it secured a $2 million contract with a major Singapore customer to continue and complete a multi-fuel unmanned aerial vehicle (UAV) engine program. 

DroneShield has introduced a game-changing new product, DroneGun Mk4TM, following considerable development in response to end-user input, the company announced in a press release. 

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. 

Aerospace composite manufacturer Quickstep announced the selection of Wichita, Kansas as the preferred location for its first engineering and manufacturing facility in the United States. 

ASX-listed PPK Group Limited has begun a series of conditional transactions to acquire a material interest in Australia-based privately owned lithium battery manufacturer PowerPlus Energy. 

Australia’s Performance of Manufacturing Index (PMI) slipped further into contraction territory in November following three months of flat conditions.