$11.8 million Asia Pacific contracts
| Stock | Droneshield Ltd (DRO.ASX) |
|---|---|
| Release Time | 29 Jan 2025, 1:36 p.m. |
| Price Sensitive | Yes |
$11.8 million Asia Pacific contracts for DroneShield
- Repeat order for three standalone contracts from Asia Pacific military customer
- Delivery and cash payment expected in 1H2025
- Follows recent European and LATAM orders, indicating increasing demand
DroneShield Limited (ASX:DRO) has announced that it has received a set of three separate contracts totaling $11.8 million from an in-country reseller for delivery to a military end customer in an Asia Pacific country. This is a repeat order, with DroneShield having previously received four standalone contracts from this reseller for this customer between May 2024 and September 2024 totaling approximately $500k. The systems are for both vehicle-mounted and fixed Counter-UxS (counter-unmanned systems) solutions. DroneShield expects to deliver all equipment and receive full payment in the first quarter of 2025. No additional material conditions need to be satisfied. This announcement follows recent orders from European and LATAM customers, indicating the increasing demand for DroneShield's products globally as leading military customers move from testing to broader roll-outs of counter-drone and electronic warfare solutions.
DroneShield expects to deliver all equipment and receive full payment of $11.8 million in the first quarter of 2025.
The scale and frequency of orders for DroneShield's products has been increasing as leading military customers are moving from testing hardware to broader roll-outs, and the company is rapidly expanding all aspects of the business to meet this growing demand across multiple regions.