Highlights

• The drone industry is expanding at a significant pace in Australia.
• The country is working to develop an appropriate infrastructure to support the integration of drones into the airspace.
• Companies like DroneShield has been performing well at the ASX for quite some time now.

Drones are becoming increasingly popular in Australia, which is regarded as a major player in the drone industry. Drone-friendly rules, plenty of development and testing BVLOS (Beyond Visual Line of Sight), the growing number of drone operators, and more have all assisted Australia's drone sector.

Strategic collaborations have long been a priority for Australian businesses. In 2018, they developed collaborations that accounted for more than 5% of all global strategic drone relationships.

When it comes to establishing drone industries, Australia is competing with countries like the United States, Switzerland, China, France, and others. As a result, it has repeatedly demonstrated to the world that it is committed to using drones for good and is working to improve its strengths to become an even better cradle for drone use and development.

China will continue to be one of the fastest expanding markets in this group of regional markets. The Asia-Pacific market is expected to reach $1 billion by 2026, led by countries like Australia, India, and South Korea.

On this note, let's talk about three ASX-listed promising drone stocks and their performances on a YTD basis.

Image Source: © 2022 Kalkine Media ®

Data Source- Companies’ announcements on ASX

DroneShield Limited (ASX: DRO)

DroneShield develops AI-based technologies to defend against sophisticated threats, including drones and autonomous systems. The company provides unique counter-drone (or counterUAS) and electronic warfare systems as well as off-the-shelf products for several terrestrial, maritime, and airborne platforms. Military, intelligence, government, law enforcement, vital infrastructure, and airports are its global customers.

DroneShield's recent developments

On 5 May 2022, DroneShield announced the sale and deployment of its DroneSentry technology for city-wide coverage of the 2022 IRONMAN Texas in The Woodlands, Texas. The transaction price was not disclosed.

In April, the company had announced its results for the quarter ending 31 March 2022. The artificial intelligence-based platform generated AU$10.6 million in revenue during the quarter, up 89% from 2020. The company generated AU$2.5 million in customer and grant cash receipts in three months, a 32% increase over the previous year.

On 21 March 2022, DroneShield shared that it has received around AU$2 million orders for several of its systems from an international government agency.

Stock performance: On Monday (30 May 2022), DroneShield shares were 2.27% down, trading at AU$0.215 each at 12.20 PM AEST. The company's shares have grown almost 23% on a YTD basis.

Also Read: DroneShield (ASX:DRO) shares in focus on quarterly update

Image Source: © 2022 Kalkine Media ®

Orbital Corporation Ltd (ASX: OEC)

For tactical unmanned aerial vehicles (UAVs), Orbital UAV delivers integrated propulsion systems and critical flight components. The company has offices in Australia and the United States.

On 17 May 2022, Orbital had signed a MoU with US-based defence products company Anduril Industries Asia Pacific Pty Ltd.

The MoU establishes a collaboration partnership between Orbital UAV and Anduril to work on the uncrewed domain, concepts, products, and technical solutions. The deal was originally announced on 11 May 2022.

Stock performance: Orbital Corporation shares were spotted trading at AU$0.315 each, up 8.62% on ASX today (30 May 2022) at 12.24 PM AEST. The company has recorded around 20% negative growth on a YTD basis.

Source: © Kemmudsudsakorn | Megapixl.com

Mobilicom Limited (ASX: MOB)

Mobilicom is full-service cybersecurity and smart solutions supplier for drones, robotics, and self-driving vehicles. It creates, develops, and distributes intelligent solutions primarily for worldwide drone, robotics, and autonomous system makers as a high-tech firm.

For Mobile Mesh networking, the company has patented technologies and unique know-how. It offers a vast, field-tested portfolio of commercialised goods used in a wide range of applications.

On 22 April 2022, technology firm Mobilicom announced a dual listing on the NASDAQ to increase its market penetration in the United States.

On 19 April 2022, Mobilicom had shared that it had received an AU$560K purchase order from a leading US commercial drone manufacturer for its SkyHopper ProV. The order will be fulfilled in 2022.

Stock performance: Mobilicom shares traded flat at AU$0.038 apiece on ASX at 12.26 PM AEST. The company's shares have fallen around 15% on a YTD basis.

Also Read: Mobilicom (ASX:MOB) focuses on expanding its US presence