But the Canberra-based company Boresight is a bit different to its Aussie-listed counterparts.
Spun out of privately held Canberra-based defence technology company Criterion Solutions in 2020, Boresight specialises in making cheap drones for target practice.
"We were conceived to cater to the counter-drone market, particularly the people who were shooting drones down," Boresight chief executive Justin Olde told AAP.
"They needed a cost-effective way of shooting down drones, but something that was a good testing and training tool as well."
ASX-listed defence contractor Electro Optic Systems became particularly adept at shooting down drones.
But it was expensive to buy $2500 drones from JB Hi-Fi purely to destroy them, Mr Olde said.
Differences in how each drone pilot flew their drone also created inconsistencies in testing EOS's anti-drone technologies.
"It needed to be accurate and repeatable and designed for that test and evaluation and development environment, rather than just some bloke flying a drone around, and so Boresight was born out of that," Mr Olde said.
Boresight now has offices in Huntsville, Alabama, and Nottingham, England, and sells cheap drones to the militaries of 14 countries.
Its customers include all four branches of the US Department of War and the Australian Defence Force.
"It's a great business model - if our customers are good at what they do, our drones fly once," Mr Olde said.
Boresight's simple drones sell for the "high hundreds, low thousands" of dollars.
"We have a low-cost product that we sell at volume," Mr Olde said.
Boresight will float on the stock exchange on Wednesday after an initial public offering to raise $8 million, giving the company a fully diluted market value of $48 million.
Boresight sold 2175 drones in calendar year 2025, up from 1638 in 2024, according to its prospectus.
The company had $4.3 million in revenue in the year ended June 30, 2025, and recorded a $722,430 loss for the period.
It intends to use funds from the listing offer to expand production and engineering teams, ramp up US production and increase its manufacturing capability.
Investors will be hoping Boresight follows in the success of DroneShield, the Sydney-based company whose shares rose more than fourfold in 2025 as the war in Ukraine showcased the importance of anti-drone technology.
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