DroneShield says “drone terrorism” has arrived with Venezuelan assassination attempt
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The era of “drone terrorism has well and truly arrived” after an apparent assassination attempt on Venezuela’s president Nicolas Maduro on Saturday, says Australian drone security solutions provider DroneShield.
Two drones armed with explosives detonated near President Maduro on August 4 while he was delivering a televised speech to hundreds of soldiers in Caracas, Venezuela, according to press reports.
There were no fatalities. Eight people were injured. Six people have been arrested.
The attacks ushered in a new form of political violence, said DroneShield (ASX:DRO) chief Oleg Vornik.
“Yesterday’s apparent drone assassination attempt on Venezuelan President Maduro is the first known drone attack on a head of state,” Mr Vornik said.
Droneshield is one of about nine ASX stocks involved in the drone game.
Israeli drone parachute-maker Parazero (ASX:PRZ) became the latest drone maker to joined the ASX last month after raising $5 million to commercialise technology that stops malfunctioning drones from hitting people on the head.
Spending on drones is expected to reach $US9.3 billion ($12.5 billion) this year, researcher IDC reported earlier this month.
Mr Vornik said DroneShield was ready to deploy counter-drone solutions if and when they were needed.
“Technological progress cannot be reversed, and going forward, the security of any asset whose perimeter is protected two-dimensionally on the ground will need to be also protected in the third dimension – from attacks from the air,” he said.
“An attempted drone assassination of a sitting sovereign leader demonstrates that, sadly, the era of drone terrorism has well and truly arrived.”
Footage of the incident shows President Maduro being interrupted mid-speech and hundreds of soldiers are seen breaking ranks as they rush to safety:
“We expect that this latest incident involving a head of state will result in governments around the world accelerating their implementation of anti-drone mitigation measures. DroneShield stands ready to assist qualified customers with their drone security needs.”
DroneShield’s products have been successfully deployed in a wide range of situations, including for security purposes at events such as the 2018 Commonwealth Games, the 2018 Winter Olympics, the Boston Marathon and an ASEAN meeting for heads of state.
DRO shares were up 9 per cent to 18.5c in early Monday trade.
Droneshield reported $431,000 in cash receipts for the June quarter but burned $1.6 million in operating costs and investment, leaving $2 million in the kitty.