Structural aims to become market leader in 5 years

Structural Monitoring Systems (ASX:SMN) is aiming to become the global leader of the structural integrity testing systems market within as little as five years.

Under a business strategy outlined to investors today, company secretary Colin McDonald said its immediate-term priority is to form partnerships with complementary technology developers, while simultaneously expanding its existing product range and business activities.

In the medium-term, Structural said it was aiming to acquire and develop new monitoring technologies, while finding new markets for its existing product range.

As part of this plan, the company is seeking an aviation partner to help spread its CVM product range to new sectors of the aerospace market.