Why the DroneShield (ASX:DRO) share price is lifting 6%

The DroneShield share price is lifting off today, up 6% in morning trade. We take a look at what's driving ASX investor interest.

| More on:
flying asx share price represented by man flying remote control drone

Image source: Getty Images

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

DroneShield Ltd (ASX: DRO) shares are taking off today after the company announced a new agreement with the United States Government. In morning trade, the DroneShield share price has lifted 6.06% to 17.5 cents. 

Let's take a look at what the company reported. 

What did DroneShield announce?

The DroneShield share price is on the rise today following the company's announcement it has entered into a new cooperative research and development agreement with the US Department of Homeland Security Science and Technology Directorate.

The company said its multi-sensor unmanned aerial system (or drone, to the uninitiated) detection and mitigation capabilities will be at the centre of the research. Its DroneSentry and DroneSentry-C2 solutions for fixed and semi-fixed site applications will be the primary focus.

The DroneSentry system uses a range of sensors to identify and track drones, including radiofrequency, radar, EO/IR camera, and acoustics. The system uses DroneShield's AI-based "RF detection, long-range sensing, and expanded multi-sensor data fusion capabilities".

DroneSentry-C2 enables operators to deploy a complete drone detection and threat assessment capability to protect their fixed bases and critical infrastructure.

Commenting on the new agreement, DroneShield CEO Oleg Vornik said:

We are excited to work closely with DHS S&T [Department of Homeland Security Science and Technology Directorate] under this cooperative agreement to support end users throughout their agency and sub-agency partners. Our DroneSentry solution is at the forefront of fixed-site counter-UAS and partnerships like this one allow us to make further advancements that are most relevant to the end users and mission we serve.

DroneShield said it could not make revenue projections until the total value of the rolling agreement is known. Stay tuned for updates.

DroneShield share price snapshot

There have been plenty of ups and downs for shareholders over the past 12 months, with today's lift in the DroneShield share price bringing the one-year losses down to 7.9%. By comparison, the All Ordinaries Index (ASX: XAO) is up 0.4% over that same period.

Year to date, the DroneShield share price is down 2.8%.

Motley Fool contributor Bernd Struben 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

A rueful woman tucks into a sweet pie as she contemplates a decision with regret.
Share Market News

Here are the top 10 ASX 200 shares today

It was a rough end to the week this Friday for ASX shares...

Read more »

Three rockets heading to space
Record Highs

3 ASX 300 shares smashing new multi-year highs while the market struggles

The broader market is in the red on Friday but these three shares are riding high.

Read more »

A fresh-faced young woman holds an Australian flag aloft above her head as she smiles widely on a beach as though celebrating a national day or event where Australia has been successful.
Opinions

The only Australian stocks I own at the start of 2025

My portfolio has a mix of studs and potential duds...

Read more »

Best Shares

Which ASX 200 large-cap shares outperformed their peers in 2024?

We reveal the 16 best ASX 200 large-cap stocks for share price growth last year.

Read more »

Three happy girls on jumping motion with inflatable mattresses at the beach.
Share Gainers

3 ASX All Ords shares leading the charge in 2025

These ASX All Ords shares have soared 16% to 37% already in 2025.

Read more »

Shot of a young businesswoman looking stressed out while working in an office.
Bank Shares

Why is the Westpac share price being hit so hard today?

The bank is currently the worst-performing member of the big four.

Read more »

Two smiling work colleagues discuss an investment or business plan at their office.
Broker Notes

Brokers name 3 ASX shares to buy today

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

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Insignia, Rio Tinto, St Barbara, and Structural Monitoring shares are rising today

These shares are ending the week on a positive note. But why? Let's find out.

Read more »