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Highlights:
- Space & drone technology is currently one of the growing sectors globally.
- The are companies in the sector which have recently seen a rise in demand for drones.
Space & drone technology has recently emerged as one of the in-demand technologies globally. According to a report titled “Commercial Drone Market, 2022-2029" by Fortune Business Insights, the drone market is expected to grow to US$47.38 billion by 2029 from US$8.15 billion in 2022. There are companies in the sector which have witnessed a demand increase in the recent past.
On this note, let’s discuss five ASX-listed drone stocks and their respective performance on ASX today. These stocks are Droneshield Limited (ASX:DRO), Orbital Corporation Limited (ASX:OEC), Delta Drone International Limited (ASX:DLT), XTEK Limited (ASX:XTE), and Electro Optics System Holdings Limited (ASX:EOS).
Droneshield Limited (ASX:DRO)
Shares of the drone-based security provider Droneshield Limited (ASX:DRO) opened on a positive note on ASX on Friday morning. Droneshield’s shares were trading 5.882% higher at AU$0.180 apiece on ASX at 10:03 AM AEDT today.
Founded in the year 2016, Droneshield is listed under the Information Technology sector on ASX. The company primarily deals with offering artificial intelligence (AI) based security towards threats such as counterdrone and electronic warfare applications. Droneshield serves the military, government, law enforcement, intelligence community etc. Some of the well-known security products of Droneshield are Droneshield Baseprocessor, Widealert Sensor, Dronegun, Faralert Sensor, Droneshield User Interface and Dronesentry. The headquarter of Droneshield is in Sydney, Australia.
Orbital Corporation Limited (ASX:OEC)
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Shares of Orbital Corporation Limited (ASX:OEC) last traded at AU$0.210 per share on ASX as of 10:06 AM AEDT on Thursday (13 October 2022).
Within the last 12 months, Orbital Corporation’s share price has declined by nearly 67% on ASX and on a YTD basis, the company’s share price fell over 46% (as of 10:06 AM AEDT yesterday).
With a market capitalisation of AU$19.32 million, Orbital Corporation Limited (ASX:OEC) is an ASX-listed technology company that is known for developing smart technology and delivering unmanned aerial systems (UAV) to its customers. The company also offers a patented fuel system that allows spark ignition used in military’s heavy fuel. Orbital’s service includes several segments, which include modular propulsion solutions, design and development, machine and prototyping, testing and validation and service and support. Orbital Corporation Limited’s headquarter is situated in Western Australia.
Delta Drone International Limited (ASX:DLT)
Shares of drone service provider Delta Drone International Limited (ASX:DLT) last traded at AU$0.012 per share on ASX as of Thursday (13 October 2022).
In the last 12 months, Delta Drone’s share price has come down by 40% on ASX and on a YTD basis, the company’s share price also declined by 40% (as of 4:10 PM AEDT yesterday).
Delta Drone International Limited is an Australian technology company offering drone-related services and solutions to the engineering, agriculture, and mining sectors. Delta Drone operates by providing monitoring and fragment analysis, security and surveillance, aerial surveying, and mapping as a complete outsourced solution with fast delivery and artificial intelligence, enabling its customers to focus on ground operations while the company manages its air operations.
XTEK Limited (ASX:XTE)
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Shares of XTEK Limited (ASX:XTE) were buzzing in the green territory on ASX on Friday morning. XTEK’s share price stood at AU$0.490 per share after gaining by 5.376% on ASX at 10:30 AM AEDT today.
During the last 12 months, XTEK’s share price has gone up over 88% on ASX and on a year-to-date basis, the company’s share price went up by 104.17% (as of 10:30 AM AEDT today).
XTEK Limited is an ASX-listed Information Technology company that offers tech-driven security products and solutions to its clients. The company works with government agencies, including defence and police forces to serve security products and solutions. In addition to that, XTEK is also involved with offering professional, reliable, and expert service delivery to its clients. The company was listed on ASX in the year 2005. XTEK’s headquarter is in Canberra, Australia.
Electro Optics System Holdings Limited (ASX:EOS)
Shares of Electro Optics System Holdings Limited (ASX:EOS) were spotted trading on a strong note on ASX on Friday morning. The company’s share price stood at AU$0.555 per share after marking a gain of 4.716% on ASX at 10:51 AM AEDT today.
Over the last one year, Electro Optics’ share price has dropped down by more than 84% on ASX and on a YTD basis, the company’s share price came down by almost 77% on ASX (at 10:51 AM AEDT today).
With a market capitalisation of AU$90.75 million, Electro Optic Systems Holdings Limited is a specialised provider of electro-optic design and developer of space and defence markets. The company operates by developing satellite laser ranging and tracking systems with laser-based sighting and surveillance systems. Electro Optics’ headquarter is situated in Sydney, Australia.
Meanwhile, the S&P/ASX 200 index (INDEXASX:XJO) was trading 1.546% higher at 6745.3 points, up 102.7 points, at 11:20 AM AEDT today (14 October 2022). The S&P/ASX 200 Information Technology sector (INDEXASX:XIJ) was 2.024% higher at 1411.6 points, up 28 points, on ASX as of 11:21 AM.
All the 11 major sectors, under the benchmark S&P/ASX 200 index, were trading higher today. Among all the 11 sectors, Energy marked the maximum gains.
