ASX-listed Elsight’s revenue rises as military experts turn to its “best-in-class’’ Halo drone connectivity solution

1. Elsight revenue rises 83% in first half of 2024.
2. Defence turns to using commercial technologies to prevent exposing top-secret capabilities.
3. Connectivity emerges as key to tactical operations.

Defence and Homeland Security authorities are turning to commercial communications solutions to quickly equip drones to fly crucial beyond the visual line of sight missions and avoid losing connection, according to ASX-listed Elsight Ltd co-founder Roee Kashi.

Mr Kashi said Elsight’s Halo drone connectivity solution, recognised as the industry leader in connectivity, had “hit the sweet spot’’ with military and homeland security authorities in the past six months because it was cost efficient and had a low size weight and power ratio.

“It makes sense that solutions which have had great success in the commercial industry are found to be valuable for defence,’’ Mr Kashi said. 

Mr Kashi was speaking in a webinar to the AUVSI  as Elsight reported an 83% increase in revenue in the first half of 2024 compared with the first half of 2023 as the company continued to verify its product as an ideal fit for the global homeland security and defence market.

Halo is a patented platform designed specifically for drone flights beyond the visual line of sight, capable of integrating LTE, 5G, and satellite communications and is being adopted in the latest drone products in Europe, the United States, Australia, and other regions. 

Mr Kashi said military leaders were turning to the commercial sector for quick and innovative solutions when they were required to respond quickly to national security issues. 

“Militaries are using commercial technologies to operate freely on the battlefield without exposing top-secret capabilities,’’ he said.

Elsight CEO Yoav Amitai said during the second quarter of 2024, the company continued to receive orders from the defence and homeland security sectors. 

“Much of the feedback from the field has accredited Elsight’s Halo as the key to unbroken communications in tactical operations of various defence organisations,’’ Mr Amitai said. 

During the quarter defence giant Lockheed Martin contracted with Elsight to integrate the Halo platform into its Indago4 Quadcopter.

The company also had significant wins in the commercial sector.

ACSL, Japan’s largest drone manufacturer will use Elsight’s Halo in its drones for logistics.

 Event38 and AviSight announced the selection of Elsight’s Halo in its inspections of large Oil & Gas pipelines in the US.

Mr Amitai said governments in the United States, the UK and Sweden  had recently announced increased investments in drones and components.

Drones are playing an increasingly significant military roles in combat zones in Ukraine and the Middle East and in Homeland Security to provide situational awareness to authorities.