Six local defence firms have secured grants to bolster their competitiveness in global markets.
The Commonwealth government has awarded $1.3 million in grants to six local SMEs via the Defence Global Competitiveness Grant Program.
Recipients include Quantx Labs, Mymodular, and Ezy-Fit Engineering Group, which each received $240,000.
Quantx is expected to leverage the funding to increase export opportunities by expanding production and testing capability to meet lower size and cost expectations.
Meanwhile, Ezy-Fit Engineering Group has committed to implementing a new honing capability to manufacture specialised marine classified hydraulic cylinders up to 4 metres long.
Other recipients include:
- The Smart Think Australia Pty Ltd — received $227,686 for the expansion of hard armour production line with the introduction of industry 4.0 production and quality control measures to meet international market demand.
- Safe Defence Pty Ltd — received $237,942 for the establishment of a manufacturing facility for a unique technology-driven update to the Stokes Type Litter Stretcher product for international markets.
- PFG Group Pty Ltd — received $211,996 for Improvements to the manufacturing capability and facility suitability for international defence contracts.
“The ability of these businesses to identify export opportunities in a global market experiencing rapid technological change is a testament to the innovative and dynamic character of Australia’s defence industry,” Minister for Defence Industry Pat Conroy said.
“Supporting these companies’ investment in new manufacturing capabilities or equipment allows them to meet the demands of international customers seeking a competitively priced product.”
Published by: Defence Connect