Coventry-based Aurrigo is preparing for a significant surge in demand for its autonomous baggage handling vehicles, projecting a 450% year-on-year revenue increase in its autonomous vehicle division to hit £3m by the end of the year. This rapid growth comes as the AIM-listed company scales up its manufacturing operations in the UK and explores opportunities to outsource production in the US and Asia.

Aurrigo's CEO, David Keene, revealed the company’s expansion strategy, stating that they’ve already deployed vehicles with multiple customers globally and are receiving a strong pipeline of enquiries.

Keene told UKTN, noting that their technology could have a significant impact on over 600 airports worldwide.

In the first half of the year, Aurrigo reported a 26% increase in revenues to £3.9m, while pre-tax losses fell by 20% to £1.6m. The company saw a 60% rise in its autonomous division, with revenues reaching £0.8m, and an 11% growth in its automotive division to £3.1m.

To support its overseas growth, Aurrigo has recently opened an office in Cincinnati and is looking to expand into Singapore. Keene noted that manufacturing in the US is crucial for cracking the American market, while Singapore has shown strong interest in their technology.

Aurrigo's solutions are expected to deliver an impressive return on investment for customers, with a payback period of less than three years for airports handling over 40 million passengers, while also significantly reducing carbon emissions.

Shares in Aurrigo rose by 3.7% to 77p following the announcement.