Australia's Electro Optic Systems hits record high on counter-drone system orders amid Mideast war

Electro Optic Systems Holdings

13/03/2026 04:59

March 13 (Reuters) - Australia's Electro Optic Systems EOS.AX said on Friday that it has secured two orders for counter-drone systems, including one linked to defence needs arising from the U.S.-Israel war on Iran, sending its shares to a lifetime high.

The defence technology manufacturer said that it has inked a $42 million contract for its Slinger Remote Weapon System with an "established" customer in the Middle East.

The company's U.S. subsidiary also booked $3 million in orders for a counter-drone system for a U.S.-based defence contractor.

Electro Optic added that it is in discussions with several Middle Eastern governments and related representatives for advanced counter-drone systems, adding that the war may accelerate demand for such technologies.

Shares of the company rose as much as nearly 19% to hit an all-time peak of A$11.78.

 (Reporting by Nikita Maria Jino in Bengaluru; Editing by Sonia Cheema)

 ((Nikita.Jino@thomsonreuters.com;))