Market News

American additive manufacturing company Markforged has reported that its first quarter results revenue increased by 10 per cent, to $24.1 million (AUD 36 million) from $21.9 million (AUD 32.7 million) in the same period of the prior year. 

Automotive leather manufacturing company Schaffer Corporation Limited has reported 1H23 statutory net profit after tax (NPAT) of $5.1 million, reflecting a difficult first half for the Automotive Leather Division.

Northrop Grumman has signed a six-year contract with Quickstep Holdings for the delivery of Australian-made components for the F-35 aerospace program. 

Quickstep Holdings has secured an $11.3 million purchase order for its Lot 17 F-35 vertical tail components from Marand Precision Engineering, a longstanding to Quickstep on the F-35 program. 

Weak demand in the Australian manufacturing sector has driven the country’s Purchasing Managers Index (PMI) to a 35-month low, according to the latest data from Judo Bank. 

The February Manufacturing PMI in the United States of America has registered 47.7 per cent, 0.3 percentage points higher than the 47.4 per cent recorded in January, according to the nation's supply executives in the latest Manufacturing Institute for Supply Management (ISM) Report On Business.

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 

Australian aerospace company Quickstep Holdings is set to provide component repair services in support of Alliance Services’ fleet of Embraer E190 aircraft. 

Toyota Australia is set to offer approximately 10 per cent fuel economy improvement for certain HiLux models, compared to the current 2.8-litre turbo diesel variants, when upgraded versions fitted with 48-volt technology arrive in the first half of 2024.

Australian independent regional and domestic airline Regional Express (Rex) has announced an investment in Dovetail Electric Aviation, the company pioneering the conversion of turbine-powered aircraft to electric, emission-free propulsion.