Latest Defence Systems News

Victory Metals has taken a significant step forward by signing a non-binding Letter of Intent with Sumitomo Corporation to supply heavy rare earths from its North Stanmore project, marking a deepening of their strategic partnership.

VEEM Ltd has secured $14 million through a placement to fuel its expansion in defence manufacturing, including a landmark US$33 million licence agreement with Northrop Grumman. The company is poised to accelerate revenue in the second half of FY26 as it deepens ties with major US defence contractors.

Electro Optic Systems updates its 2025 revenue outlook to $115-125 million from existing contracts, with potential for an additional $25 million from new orders. The company’s contract backlog has jumped to $299 million, reflecting strong demand despite some delays in contract signings.

DroneShield was not selected as the Systems Integration Partner for the Australian Defence’s LAND 156 program, yet it reported record half-year revenue and profit driven by strong global demand for its counterdrone technology.

Electro Optic Systems (EOS) has secured a role in the Australian Defence Force’s $1.3 billion Project LAND 156, aiming to develop advanced counter-drone capabilities over the next decade. Initial orders for EOS’s Slinger remote weapon system could boost revenues from 2026 onwards.

Metallium Ltd has partnered with Rice University to advance its Flash Joule Heating technology, targeting a breakthrough in rare earth element separation that could reduce Western dependence on Chinese refining. This collaboration seeks to simplify or bypass the costly solvent extraction process dominating the industry.

Electro Optic Systems reveals a challenging half-year with a steep revenue drop and loss from continuing operations, offset by a substantial gain from divesting EM Solutions and a major new laser weapons contract.

Etherstack plc has delivered a record half year performance in H1 2025, driven by a landmark multi-year contract with AT&T and surging recurring revenues. The wireless communications specialist is poised for sustained growth across its core markets.

Electro Optic Systems (EOS) has secured its largest-ever order for the Slinger Counter-Drone system, boosting its contract backlog by 25% to $170 million and reporting strong cash flow and a debt-free balance sheet.

Ionic Rare Earths’ Belfast plant is ramping up production of critical heavy rare earth oxides to meet soaring demand from Western markets following China’s export restrictions. This strategic move positions the company as a key supplier for defence, renewables, and advanced manufacturing sectors.

Li-S Energy has secured a strategic defence collaboration, advanced its Pegasus I drone testing, and commissioned Australia's first lithium metal foil production line, all while maintaining a solid cash position.

Electro Optic Systems has received A$60 million following the finalisation of a major contract, lifting its cash balance to approximately A$130 million as of June 30, 2025.