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ASX-listed DroneShield has committed to continued investment in its local supply chain, having raised $235 million this year.
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Australia’s largest publicly listed defence company, DroneShield, currently has 27,000 shareholders representing a $1 billion market capitalisation, with technology deployed in hotspots across the world including Ukraine and the Middle East.
Speaking ahead of Land Forces in Melbourne, Oleg Vornik, chief executive officer of DroneShield, explained that as the risk of autonomous systems continues to grow, it is important to develop local counter unmanned aerial system (CUAS) solutions.
“As the counter-drone threats continue to proliferate, DroneShield is proud to be an Australian homegrown AIC champion, and an emerging prime in this area, delivering capability to our government customers around the world on time and on budget, and supporting a wide array of local Australian businesses in their own growth, while delivering returns to our substantial Australian small shareholder base.”
The commitment comes as DroneShield opened its new headquarters in Pyrmont, committing to triple its research and development and manufacturing capacity to AU$400 million annually.
According to DroneShield, the company aims to source as much content locally as possible and is currently working with over 20 Australian technology businesses.
Already, the company’s RfPatrol handheld C-UAS early warning system has an over 85 per cent AIC rating.
The company’s local partners include APC and RFShop in South Australia, Circuitwise, Stella and PPC Moulding in NSW, and APT in Victoria.
This is supported by the company’s cooperation with Australian universities, including developing its DroneOptID computer vision drone detection software with the University of Technology Sydney as well as its supply chain links with the US and the UK where it sources high-performance chips, the company confirmed.
