Here are the top performing drone stocks on the ASX
In 2020 a handful of ASX listed drone stocks notched up hefty gains.
While drones are best known for recreational uses, they are increasingly being adopted by companies and governments for their varying capabilities.
Take ASX’s newest drone stock Delta Drone International (ASX:DLT), which focuses on helping mining operations go autonomous. No humans required.
“A lot of people think flying a drone is as easy as just going to your local tech shop, buying off the shelf, and flying it. It’s not the case,” said Delta CEO Christopher Clark.
“The world going is becoming more autonomous.
“We see this in mines, trucks and trains – drones are right now primarily controlled by pilots but eventually they’re all going to be come autonomous. It’s where the world is going.”
While Delta is an ASX newcomer there are other ASX drone stocks — 3 of these have gained over 200 per cent in the last 12 months.
Strategic Elements (ASX:SOR) is up 822 per cent in 12 months. This company is one of the few on the ASX operating under a Pooled Development Fund program and has multiple hats including a base and precious metals project in WA, a liquid transparent ink as well as an artificial intelligence and robotics company – Stealth Technologies.
The latter is developing autonomous drones airborne drone that can augment on-ground surveillance vehicles with the integration of new sensor technology and additional camera angles.
Stealth has gradually gained traction in the market – it has teamed up with US drone tech company Planck AeroSystems and engineering giant Honeywell to develop the capabilities of its vehicle.
The other is Orbital (ASX:OEC) which has notched up a 230 per cent gain in the last year. This company makes spark ignition propulsion systems for drones.
This stock is at the commercialisation phase and its revenues have taken off in 2020 off the back of major client wins including Boeing subsidiary Insitu, global aerospace giant Northrop Grumman, and a major Singapore defence company.
At Stockhead, we tell it like it is. While Strategic Elements and Orbital are Stockhead advertisers, they did not sponsor this article.