DroneShield (ASX:DRO) share price lifts on contract update

The DroneShield Ltd (ASX: DRO) share price is up slightly today after the company received its first order for European police forces.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Shares in DroneShield Ltd (ASX: DRO) are lifting today after the company received its first order under the EU Police Framework Agreement.

In the opening minutes of trade, the DroneShield share price shot up to an intraday high of 18.5 cents. However, at the time of writing, shares in the defence contractor have retreated to 17.7 cents, up 1.14%.

What did DroneShield announce?

DroneShield advised that European police forces have placed an initial order for its DroneGun Tactical products.

During May last year, the company won a competitive tender to supply counter unmanned aerial systems (UAS) for European police. The process, which was run by Belgium Police, was selected with a European-wide framework.

Under the agreement, European police forces would be equipped with the DroneGun Tactical products. While no purchase quantities were stated in the release, the deal is expected to produce periodic sales over time. Furthermore, the company anticipates that the framework will lead to purchases of other DroneShield equipment, such as RfPatrol and others.

DroneShield's Benelux region partner, ForcePro BV, has been selected to manage sales, and provide training and local support.

DroneGun Tactical explained

DroneGun Tactical is a portable, long range counter measure used against UAS threats.

When attacking a target, the high-tech gun safely brings the enemy UAS down to ground with no peripheral damage, protecting the surrounding environment.

What did the CEO say?

Commenting on the contract, DroneShield CEO Oleg Vornik said:

Due to COVID, there have been initial delays in mobilisation of orders under the agreement, which have now commenced despite continuous COVID constraints in Europe. While this initial purchase is small at approximately $100,000, it represents the first purchase under what we expect to be a multi-million-dollar agreement supplying DroneGuns and associated counter-UAS products across dismounted, vehicle and fixed site range, to police forces across EU.

DroneShield share price review

The DroneShield share price has had a bit of an up-and-down year. The company's shares reached as high as 25 cents at the beginning of last year, before falling to 8.4 cents in March.

In the last 3 months, the DroneShield share price has been hovering between 17 cents and 20 cents.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares finished the trading week on a high this Friday.

Read more »

A businessman stacks building blocks.
Technology Shares

6% gain! What's up with Block shares today?

Block shares are up more than 34% since 2 May.

Read more »

Broker looking at the share price.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why ARB, Block, Mayne Pharma, and Paladin Energy shares are charging higher today

These shares are having a strong finish to the week. But why?

Read more »

A woman puts her hands up as she smashes and breaks through a glass ceiling.
Share Gainers

How these 5 ASX 200 stocks are smashing the benchmark this week

These fives ASX 200 stocks have made some very happy shareholders this week. Here’s how.

Read more »

Bored man sitting at his desk with his laptop.
Share Fallers

Why Catalyst Metals, Duratec, Nufarm, and Rio Tinto shares are dropping today

These shares are ending the week in the red. But why?

Read more »

A smiling woman at a hardware shop selects paint colours from a wall display.
Broker Notes

After its strategy day, what does Macquarie think Wesfarmers shares are worth?

Let's see what the broker is saying about this blue chip.

Read more »

Buy, hold, and sell ratings written on signs on a wooden pole.
Technology Shares

After surging 13% yesterday, are TechnologyOne shares a buy, hold or sell according to Macquarie?

Valuations matter when investing, and Macquarie feels no different.

Read more »