DroneShield Limited (ASX:DRO) Secures $9.7 Million Contract
Contract Details
DroneShield Limited (ASX:DRO) has received a significant $9.7 million order from a major military customer in Latin America. This contract marks a crucial milestone in the company’s expansion within the global market. The order will involve the delivery of dismounted, mobile, and fixed-site counterdrone systems (C-UxS).
The contract was facilitated through DroneShield’s local reseller, known for its expertise and experience in advanced technological solutions. Delivery and payment are anticipated in the first half of 2025, with approximately 80% of the payment expected prior to shipment and the remaining 20% after delivery.
Executive Comments
Oleg Vornik, CEO of DroneShield, expressed enthusiasm about the contract, stating, “DroneShield has spent much of 2024 scaling its presence in the Latin American market and has built a substantial pipeline diversified over multiple countries. 2025 will see further development in the LATAM market, with the recent appointment of a dedicated LATAM Sales Director, Carlos Gutierrez.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield. 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 Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.