Technology-company Orbital Corporation (ASX:OEC) has established...

Technology-company Orbital Corporation (ASX:OEC) has established a strategic growth plan focussed on building market capitalisation, including a performance-based incentive plan for management.

Orbital is focussed on the heavy fuel small unmanned aircraft systems (SUAS) market with its patented FlexDi™ engine management system, which is a significant part of its strategy for top line growth.

Other initiatives include system sales, new joint ventures, and new business acquisitions and diversification targeting the resources sector.

Following the completion of a share buy-back program, and the achievement of a $1.7 million profit for FY2014, Orbital conducted a strategic review of its businesses.

FlexDi™ is already utilised by Textron Unmanned Systems, a division of Textron Inc, on its Aerosonde 4.7 Unmanned Aerial Vehicle.

Orbital is currently undertaking a design, development and validation program for a next generation propulsion system utilising FlexDi™ for Insitu Inc., a subsidiary of The Boeing Company.

The new propulsion system for Insitu-Boeing will be the most advanced ever released to this segment of the market with features that should drive adoption across a broader range of products.

With Insitu-Boeing and Textron as customers, Orbital is servicing the heavy fuel propulsion systems needs of the two pre-eminent companies in the unmanned aerial vehicle market.

The total market for all UAV sizes is already at over $3 billion per annum and is projected to double in the next five years.

Synerject, Orbital's joint venture with Continental AG, continues to deliver both revenue and profit growth.

The Synerject business was created within Orbital to provide gasoline engine management systems and components to marine, motorcycle and recreation industry manufacturers.

The Synerject business is an example of Orbital’s business model and the company will continue to search for new and profitable joint ventures.

Orbital is also assessing a number of acquisition opportunities predominantly in the resources sector, targeting opportunities with unique technology.