AeroVironment Awarded $10.5 Million Puma LE Unmanned Aircraft Systems Foreign Military Sales Contract for U.S. Ally

Rhea-AI Summary

AeroVironment (NASDAQ: AVAV) announced a $10.5 million contract from the U.S. Department of Defense for the delivery of Puma LE unmanned aircraft systems over six years to an allied nation. The Puma LE offers up to 6.5 hours of flight endurance and advanced reconnaissance capabilities, enhancing operational effectiveness for allied forces. This contract supports the Foreign Military Sales program, promoting interoperability among U.S. and allied forces. AeroVironment remains a leader in small unmanned aircraft systems, serving over 50 allied governments worldwide.

Positive

• Received a $10.5 million firm-fixed-price contract for Puma LE UAS.
• Contract includes delivery, training, and support, enhancing customer capabilities.
• Puma LE features advanced reconnaissance capabilities, increasing mission effectiveness.
• Supports Foreign Military Sales, fostering interoperability among allied forces.

Negative

• None.

• Puma LE (Long Endurance) provides Group 2 capabilities in a Group 1 footprint and features up to 6.5 hours of flight endurance for an extended time on station – all in a two-case mission packout
• Customer joins growing number of allied government forces fielding AeroVironment’s advanced, battle-proven small unmanned aircraft systems
• Foreign Military Sales program promotes interoperability among U.S. and allied forces for joint operations

ARLINGTON, Va.--(BUSINESS WIRE)-- AeroVironment, Inc. (NASDAQ: AVAV) a global leader in intelligent, multi-domain robotic systems, today announced it received a $10,534,348 firm-fixed-price U.S. Department of Defense Foreign Military Sales (FMS) contract award on Jan. 21, 2022. The contract includes the delivery of Puma™ LE small unmanned aircraft systems (UAS) over a six-year period to an allied nation, as well as add-on air vehicle kits, initial spares packages, training and support.

Puma LE weighs only 23.5 pounds (10.7 kilograms) and is launchable by hand or bungee, making it easy to deploy and recover in any environment. (Image: AeroVironment, Inc.)

“With the adoption of Puma LE and other AeroVironment small UAS, customers are equipping their frontline forces with the ability to see and operate beyond the horizon, gathering on-demand intelligence, surveillance and reconnaissance that can ultimately save lives,” said Trace Stevenson, AeroVironment vice president and product line general manager for small UAS.

Weighing only 23.5 pounds (10.7 kilograms), the ultra-lightweight Puma LE is hand or bungee launchable. The aircraft comes equipped with the Mantis™ i45 gimbaled EO/IR sensor suite and secondary payload bay with dedicated power supply and Ethernet for a total payload capacity of 5.5 pounds (2.5 kilograms). On-board batteries provide up to 6.5 hours of flight endurance with an operational range of 37.2 miles (60 kilometers) when used with AeroVironment’s Long-Range Tracking Antenna (LRTA) and Puma Smart 2500 Battery.

AeroVironment’s small UAS comprises the majority of all unmanned aircraft in the U.S. Department of Defense (DoD) inventory, and its rapidly growing international customer base numbers more than 50 allied governments. To learn more, visit www.avinc.com.

ABOUT AEROVIRONMENT UNMANNED AIRCRAFT SOLUTIONS

AeroVironment’s portfolio of intelligent, multi-domain robotic systems includes small footprint, runway-independent UAS. These solutions offer increased, multi-mission capabilities with the option of selecting the appropriate aircraft based on the type of mission to be performed. These capabilities have the potential to provide significant force protection and force multiplication benefits to small tactical units and security personnel, as well as greater safety, scalability and cost savings to commercial operators. With the addition of the Crysalis™ next-generation ground control solution, command and control of compatible UAS and their payloads is streamlined through an intuitive user experience, and battlefield communication and collaboration are improved by enabling users to easily share real-time information and coordinate mission-critical decisions. AeroVironment provides turnkey intelligence, surveillance and reconnaissance (ISR) and support services worldwide to ensure a consistently high level of mission success. AeroVironment has delivered tens of thousands of new and replacement unmanned air vehicles to customers within the United States and to more than 50 allied governments. For more information, visit https://www.avinc.com/uas.

ABOUT AEROVIRONMENT, INC.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.

SAFE HARBOR STATEMENT

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220209005995/en/

AeroVironment, Inc.

Makayla Thomas

+1 (805) 520-8350

pr@avinc.com

Mark Boyer

For AeroVironment, Inc.

+1 (213) 247-4109

mark@boyersyndicate.com

Source: AeroVironment, Inc.

FAQ

What is the recent contract awarded to AeroVironment (AVAV)?

AeroVironment received a $10.5 million contract from the U.S. Department of Defense for the Puma LE unmanned aircraft systems.

How long is the duration of AeroVironment's contract for the Puma LE?

The contract for the Puma LE is set for a duration of six years.

What capabilities does the Puma LE unmanned aircraft system provide?

The Puma LE offers up to 6.5 hours of flight endurance and advanced reconnaissance features.

How does the Foreign Military Sales program benefit AeroVironment (AVAV)?

The Foreign Military Sales program promotes interoperability among U.S. and allied forces, expanding AeroVironment's market reach.

How many governments are customers of AeroVironment (AVAV)?

AeroVironment serves more than 50 allied governments worldwide.