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Artificial intelligence-based defense technology designer Droneshield Ltd (ASX:DRO) has seen its share price spike up more than 4% on news of a $13.5 million contract from a US government customer for its dismounted Counter-UxS (or C-UxS) systems.
The contract was for a repeat order of the C-UxS systems – which target multi-domain aerial, ground and maritime surface drones – with the product delivery and cash receipt both factored into for completion by the end of 2024.
Droneshield director of Business Development Tom Branstetter said the contract was evidence of client confidence in the company’s suite of drone defense products.
“DroneShield’s ability to rapidly deliver high-performance, lifesaving technology at this scale sets us apart in the counter-UAS industry, empowering our clients with cutting-edge solutions precisely when they need it,” he said.
At 10:49 AEDT, shares in Droneshield were trading at $1.40 – a rise of 4.89% since the market opened.
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