New DroneShield Study Exposes Legal Void in Airspace Security as Admiral Takes Board Seat

DroneShield report: 60% of critical infrastructure operators legally powerless against drones. Stock down 24% YTD but analysts see 72% upside. New board member, $2.2B pipeline.

More than half of the world’s critical infrastructure operators are legally powerless to shoot down or jam drones, a problem DroneShield is seeking to capitalise on with both a new board member and a growing portfolio of contracts. The company’s own report, titled “Airspace Under Pressure”, surveyed over 20 global operators and found that 60% lack the legal authority to actively neutralise drone threats. A further 70% admit to major gaps in detection capability, while 17% have no defined counter-strategy at all. Roughly one in ten operators has no formal drone-defence plan in place.

The report comes at a time when DroneShield’s stock is under heavy pressure despite the booming market for anti-drone systems. Shares closed on Wednesday at €1.50, up 3.84% on the day even as the ASX 200 slipped 0.64%, but the longer-term picture is stark. The stock has lost over 24% since the start of the year and has tumbled roughly 25% over the past month alone. At €1.50, it sits more than 20% below its 50-day moving average of €1.89 and a staggering 59% below the October high of €3.65. The relative strength index stands at 39.5, edging towards oversold territory.

To shore up its government ties, DroneShield appointed retired Rear Admiral Lee Goddard as an independent non-executive director, effective 1 July 2026. Analysts see the move as a deliberate push to strengthen connections with defence ministries and government agencies, particularly in the US, where the company recently secured a five-year contract worth nearly $25 million from the US military. Another western military alliance placed an order for roughly $22 million in the period before that.

DroneShield’s technology — a mix of detection and electronic warfare systems — already operates in more than 70 countries, with Europe accounting for almost half of last year’s revenue. The company recently opened a new headquarters in Amsterdam. Its global sales pipeline now exceeds 300 projects with a combined potential value of $2.2 billion. The counter-drone market itself is estimated at nearly $3 billion today and is forecast to grow at a compound annual rate of 26%, reaching over $11 billion by 2030.

Technical signals offer little comfort for bulls, however. The stock is well below both its 50-day and 200-day averages (the latter at €2.05), and the RSI at 39.5 indicates selling pressure has not yet exhausted itself. Independent analysts nevertheless see a wide gap between price and intrinsic value. A discounted cash flow analysis pegs the potential undervaluation at up to 72%, with a price target of A$3.75 for the Australian listing and a unanimous buy recommendation.

The competitive landscape is shifting as well. While DroneShield focuses on software-driven detection and electronic countermeasures, rivals are scaling up kinetic solutions — from specialised ammunition to automated interceptor drones. The company’s ability to convert its pipeline into revenue will depend heavily on how quickly regulators and procurement budgets catch up with the vulnerabilities laid bare in its own study. For now, a retired admiral, a bulging order book, and a stock trading at a fraction of its peak tell a story of opportunity still waiting to be priced in.