DroneShield (ASX:DRO) receives $900,000 counterdrone contract

• DroneShield (DRO) receives a $900,000 order contract for portable counterdrone systems
• The order comes from the government agency of an undisclosed Asian country that DroneShield says is allied with the West
• The delivery and payment of the order are slated to take place over both the current and March 2023 quarters
• The company says the contract is a testament to the diversity of the DroneShield sales pipeline, with its last three larger orders coming from three different continents
• DroneShield shares are trading 2.56 per cent higher at 20 cents at 10:21 am AEDT

DroneShield (DRO) has received a $900,000 order contract for portable counterdrone systems.

The order comes from the government agency of an unnamed Asian country that DroneShield said was allied with the west.

The delivery and payment of the order will take place over both the current and March 2023 quarters.

DroneShield CEO Oleg Vornik said the new order demonstrated the progression of the DroneShield business, which has grown from small orders to regular larger contracts.

“Further, this order is a testament to the diversity of the DroneShield sales pipeline — with last three larger orders being US-, Europe- and Asia-based,” Mr Vornik said.

“The company also continues to receive regular revenues in Australia, including through execution of the two-year, $3.8 million Electronic Warfare contract that we are approximately halfway through.”

Today’s news follows a string of recent orders, including a $1.8 million US Department of Defense order for DroneShield’s DroneGun MKIII units, a $2 million European sale of DroneSentry fixed site systems and an initial deployment into a US international airport.

“As we are seeing in Ukraine, with the latest use of Shahed-136 drones by Russia, drone warfare continues to rapidly escalate and government agencies globally are responding to this threat with acquisitions of counterdrone systems, where DroneShield is the global leader in the sector,” Mr Vornik said.

DroneShield shares were trading 2.56 per cent higher at 20 cents at 10:21 am AEDT.