BAE Systems Australia sells Innovaero stake to Aerovation

Adelaide-based BAE Systems Australia has sold its stake in Perth-based aerospace company Innovaero Pty Ltd to previous owner Aerovation Pty Limited for an undisclosed sum. Innovaero says this transition to full Australian ownership marks a significant milestone in establishing a sovereign Australian defence industry capability.

BAE Systems Australia announced its shareholding in Innovaero some two and a half years ago after the Perth-based company designed the air vehicle for the STRIX vertical take-off and landing Uncrewed Aerial System (UAS) which BAE Systems Australia unveiled at the 2023 Avalon Airshow.

“BAE Systems Australia has made the strategic decision to return control of Innovaero to its founders and former owner, Aerovation,” said Andrew Gresham, Managing Director – Defence Delivery, BAE Systems Australia.

“The change of control was carefully considered, and Innovaero and BAE Systems Australia will continue a strategic partnership to pursue opportunities to secure further demand for OWL B and advance development of STRIX. We wish Innovaero every success in its continued growth and development and look forward to continuing to build on our relationship.”

Innovaero is focused on development and manufacture of affordable precision mass, such as the OWL family of precision loitering munitions, which are aligned with Australia’s Defence needs and the ADF’s growing emphasis on mass, resilience and rapid capability delivery, the company says.

“The transaction returns full ownership and control of Innovaero and marks a significant milestone in the company’s growth as a sovereign defence technology leader focused on turning proven innovation into scalable capabilities for Defence,” said Mike von Bertouch, founder and chairman of Innovaero.

“In this new chapter, Innovaero plans to accelerate investment, expand our manufacturing footprint, and deliver the next generation of affordable precision mass capabilities for the Australian Defence Force (ADF) and our allies.

With the change in ownership finalised, Innovaero says it has appointed former Australian Submarine Corporation head Greg Tunny as Chief Executive Officer, effective immediately. Tunny has been part of the Innovaero leadership team for the past five years as Chief Strategy and Development Officer, bringing continuity and momentum to the role.

On his appointment Tunny said, “I look forward to leading the company through its next phase of growth as we work to scale OWL production to deliver affordable precision mass to the ADF.”

Tunny succeeds Marcus Colman, who served as CEO for over two years and oversaw the company through a period of significant commercial maturation. Marcus will return to BAE following the completion of the acquisition; BAE Systems has also signed a distribution agreement in markets outside Australia.

 With ownership consolidated, Innovaero will continue to progress its precision-strike and counter-UAS programs, while maintaining continuity for Defence, government and industry partners. Further announcements are expected in early 2026 as the company enters a period of sustained growth aligned with Australia’s increasing emphasis on sovereign capability, resilient supply chains and rapid innovation.