Porto Aviation Group, an Italian-based aerospace firm, has experienced significant growth, largely driven by recent orders from the U.S. military and its expanding market presence. The company, founded in 2017 to develop innovative ultralight aircraft, has recently reported increased revenues and production activities. Notably, the company's ultralight two-seater, the Risen 916, has made progress in military and civil applications, including a recent order of 14 units by a U.S. Army contractor for military simulations.
In Serbia, Porto Aviation has acquired land to establish a new manufacturing site aimed at expanding the production of the Risen 916 model and developing a four-seater version for the civil sector. The project involved EUR4.1 million in investment over five years, supported partly by a EUR3.5 million subsidized loan. Simultaneously, in Italy, the company maintains its main production facility in Cremella and considers establishing a manufacturing presence in the United States, with plans for a new facility in Nevada to meet rising demand.
Market performance reflects this growth, with the company's shares more than doubling since their IPO on the stock exchange in August 2023. The current trading range is between EUR8 and EUR9, with a market capitalization of approximately EUR20-21 million. The company's future outlook remains positive, supported by ongoing development projects and strategic market expansion efforts.
