What’s Happening?
Australian defence-technology company Boresight Ltd has listed on the Australian Securities Exchange under the code BST.
The Fyshwick-based company began ASX trading on 10 June 2026 after completing a strongly supported initial public offering.
Boresight specialises in low-cost aerial target drones used in counter-drone training and live-fire evaluation.
The drones are built to act as realistic aerial threats, then be shot down and replaced during training.
Its proprietary ground control system also allows multiple drones to be operated at the same time.
Managing Director and CEO Justin Olde said the listing marked a major milestone for the company.
“A lot of people have put in a lot of work to get us here today and I’m proud of every one of them. Boresight is proof that Australia can build a world-class offering. Our aerial target drones and the proprietary control system supporting them enable safe, repeatable and cost-effective training for this new age of drone warfare and that matters enormously. Safe, repeatable, affordable training is a critical requirement for militaries and counter-drone customers.
The scale of opportunity for Boresight is big. If you think about the number of soldiers around the world who need to be trained in this area, it’s a big number. We’ll use the funds from the raise to invest in new manufacturing capability and grow our team to capitalise on this opportunity and continue to develop our offering.”
Why It Matters?
Drone threats are now a major concern for defence forces around the world.
Boresight’s products are designed to help military and counter-drone customers train against those threats more safely and affordably.
Instead of using expensive commercial alternatives or high-value intelligence, surveillance and reconnaissance assets, customers can use drones made for live-fire exercises.
The company’s system combines aerial target drones, mission planning software and scalable ground control systems.
That gives defence forces a way to run repeatable training scenarios and test counter-drone capability under realistic conditions.
Local Impact
Boresight’s listing gives the Canberra-based company new capital to expand its production and engineering capacity.
The company plans to use the funds to grow its production and engineering teams, scale manufacturing in the United States and build its Canberra manufacturing capability.
It already has manufacturing hubs in Australia and the United States.
Boresight has also expanded its international footprint through offices in Huntsville, Alabama, and Nottingham, England.
Its teams now operate across Australia, the United States and the United Kingdom.
By The Numbers
- Boresight raised $8 million through its initial public offering, giving the company fresh capital to expand production and engineering.
- The IPO was priced at 20 cents per share, giving Boresight a market capitalisation of about $41.8 million on listing.
- Boresight says it has sold more than 6000 target drones since 2020, including to private companies and 15 militaries across 12 countries.
Zoom In
Boresight’s platform includes quadrotor and fixed-wing aerial targets.
These drones are designed to replicate changing aerial threats during counter-uncrewed aerial system training.
The company says its systems support threat emulation, operational readiness and scalable training infrastructure.
Its post-IPO share base is expected to include about 209 million shares on issue.
Boresight also has 34.2 million options with a five-year expiry and a 25-cent strike price.
Before the raise, the company’s fully diluted market capitalisation was $33.8 million.
Boresight also says its customers include the United States and Australia. Its company material references sales to militaries across 14 countries.
Zoom Out
Boresight’s ASX debut comes as demand grows for practical counter-drone training.
The company is focused on a defence need that has become more urgent as low-cost drones change modern conflict.
Its low-cost target drones are made for repeated use in training environments where they can be destroyed and replaced.
That model gives Boresight a clear role in helping defence customers prepare for drone warfare without using more expensive assets.
