Innovaero
(ASX:INN)
Aerovation Holdings Limited is an Australian aerospace and defence technology group focused on the design, development, manufacture, and commercialisation of advanced uncrewed systems, precision aerospace components, and associated sovereign industrial capabilities. Through its wholly owned subsidiaries, Innovaero Pty Ltd and Aviation Composites Pty Ltd, the Company has a lengthy track record in delivery of integrated capabilities spanning complex aerial camera systems, mission‑critical defence systems and high‑value composite aerostructures for defence, aerospace, and adjacent industrial markets.
Innovaero specialises in complex aeronautical system development with particular emphasis on uncrewed aerial systems (UAS), including loitering munitions and one‑way effectors, as well as enabling subsystems, mission systems, and manufacturing processes aligned to Australian sovereign defence priorities. Aviation Composites provides advanced composite manufacturing, tooling, and repair solutions, supporting both Innovaero’s internal programs and third‑party customers.
Innovaero has a proven track record of delivering innovative technologies and significant commercial outcomes both in Australia and internationally. It is a multi-disciplinary, multi-faceted organisation proud of its unique culture and talented and experienced people. Innovaero has been recognised by multiple industry awards over a 20+ year period.
x10 Partners' Role
x10 Partners Corporate and Business advisory has worked with Innovaero since 2019 on developing, evolving, and refining its business plan and strategy.
x10 Partners current (2026) role is as IPO coordinator.
Journey Timeline
During the decade prior to 2019, Innovaero was a profitable, stable specialist designer and manufacturer of components for the aeronautical market. In May 2019 Innovaero engages x10 to assist it with strategies for identifying and creating enterprise value through leveraging existing core competencies to pivot into new markets, including defence.
Acquisition of 5D Systems to develop Intellectual Property and competencies in the design, operation, and support of Tactical Unmanned Aerial Systems (TUAS) targeted at Defence markets.
Innovaero completes a share placement raising $4.0m in equity capital.
Acquisition of Aviation Composites, a fully CASA Approved AMO (CASR – Part 145), providing Innovaero with the capability for rapid prototyping and manufacture of TUAS airframes. H1 also saw Innovaero demonstrate and flight test its Innovaero Fox TUAS.
Innovaero raises $6m funding via a Convertible Note and a further $2m via an equity placement having signed a Memorandum of Understanding with Insitu Pacific, a Boeing Company to collaborate on the development of TUAS platforms.
At the Australian International Airshow (a major Defence exhibition held biennially at Avalon Airport) Innovaero publicly launches OWL, its One-Way Loitering Munition (previously live demonstrated to Australian Defence Forces during 2022). Innovaero also announces with BAE Systems joint development of Strix, a hybrid tandem wing, multi domain and multi-role uncrewed aerial system.
x10 Partners successfully completes its mandated services when Innovaero forms an Australian-based Joint Venture with global defence conglomerate BAE Systems and migrates its business and operations into that entity.
x10 Partners appointed as IPO coordinator. Innovaero commences runway to IPO.
Perth-based aerospace and defence original equipment manufacturer Innovaero Technologies Limited (ASX:INN) commence trading on the Australian Securities Exchange on September 22, 2026 following completion of its successful $40 million Initial Public Offering.