Aurrigo, a Coventry-based company, is poised for significant growth in the autonomous vehicle market, particularly within airports.
- The company anticipates a remarkable 450% increase in revenue from its autonomous vehicle division by year-end.
- Aurrigo’s CEO, David Keene, highlights the international demand with operational vehicles and a robust enquiry pipeline.
- Expansion plans include establishing a presence in the US and Singapore to meet growing demand.
- Modelling indicates that Aurrigo’s solutions offer rapid returns and significant emission reductions, benefiting large airports worldwide.
Aurrigo, the Coventry-based airside technology firm, is preparing for a significant increase in demand for its autonomous baggage handling vehicles. With a strategic focus on airports, the company is forecasting a striking 450% year-on-year revenue growth for its autonomous vehicle division, expecting to reach £3 million by the close of the current year. This growth trajectory underscores the burgeoning market for autonomous solutions in airport operations.
In a recent communication, Aurrigo’s CEO David Keene expressed confidence in the company’s market positioning, citing an extensive deployment of their vehicles across various locations. He stated, “We’ve got vehicles out with quite a number of customers now in different locations and we’ve got a very healthy enquiry pipeline that’s coming through. So we’re not chasing any business and the market is really proving that the business case is there.” This robust pipeline indicates substantial global interest in Aurrigo’s technology, particularly from over 600 airports worldwide, where the integration of these solutions could substantially enhance operational efficiency.
The company reported a commendable 26% increase in total revenues, amounting to £3.9 million for the first half of the year, while also managing to reduce pre-tax losses by 20% to £1.6 million. This financial performance is strongly driven by a 60% rise in the autonomous division’s turnover to £0.8 million, alongside a noted 11% increase in the automotive sector’s turnover, reaching £3.1 million.
Strategically, Aurrigo is expanding its global footprint by opening an office in Cincinnati to cater to its overseas ambitions, and plans are underway to enter the Singapore market. Keene noted the necessity of a localised production strategy in the US to effectively penetrate the American market, stating, “If you want to really crack the American market, you have to really have ‘made in America’ a part of your strategy.” The prospect of setting up a manufacturing facility to bolster capacity for the American market is a key focus.
The firm’s autonomous technology promises impressive efficiency gains, offering customers a return on investment within three years for a typical terminal handling over 40 million passengers annually. Notably, the solutions are expected to cut tug carbon emissions by 72%. This positions Aurrigo as a leader in advancing sustainable and profitable airport operations worldwide.
Aurrigo’s strategic initiatives and robust market demand position the company for substantial growth in the global autonomous vehicle sector.
