AeroVironment Awarded $20.3 Million Switchblade 600 Tactical Missile Systems Hardware Contract by U.S. Special Operations Command

Rhea-AI Summary

AeroVironment (NASDAQ: AVAV) received a $20.3 million contract from the United States Special Operations Command on September 28, 2021, for its Switchblade 600 tactical missile systems. The contract stipulates delivery by January 2023. The Switchblade 600 system, known for its high-precision capabilities, offers more than 40 minutes of flight time, anti-armor warhead, and can be deployed via fixed and mobile platforms across diverse environments. This contract strengthens AeroVironment's position in the defense market, enhancing its combat effectiveness and operational flexibility.

Positive

• Awarded $20.3 million contract, strengthening market position.
• Switchblade 600 enhances combat capabilities with high-precision targeting.
• Deployment flexibility across various platforms improves operational efficiency.

Negative

• None.

• Switchblade 600 tactical missile system features high-precision optics, more than 40 minutes of loitering endurance and an anti-armor warhead for engaging and prosecuting hardened static and moving light armored vehicles
• Lightweight, self-contained Switchblade 600 launch tube system allows for deployment flexibility from fixed and mobile platforms on land, in air or at sea

ARLINGTON, Va.--(BUSINESS WIRE)-- AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced it was awarded a firm-fixed-price contract on Sept. 28, 2021 by the United States Special Operations Command (USSOCOM) for $20,321,973 for the procurement of Switchblade® 600 tactical missile systems (TMS). Delivery is scheduled to be completed by January 2023.

Switchblade 600 is an all-in-one, man-portable loitering missile that delivers unprecedented tactical reconnaissance, surveillance and target acquisition. (Photo: AeroVironment, Inc.)

“Switchblade 600 is an all-in-one, man-portable tactical missile that provides warfighters with the capability to fly, track and engage non-line-of-sight targets and light-armored vehicles with precision lethal effects,” said Brett Hush, vice president and product line general manager for TMS. “The tube-launched, Switchblade 600 can be easily transported for deployment from fixed and mobile platforms in any environment, providing operators with superior force overmatch and minimizing exposure to direct and indirect enemy fires.”

AeroVironment’s Switchblade 600 is an all-in-one, man portable solution equipped with a high-performance EO/IR gimbaled sensor suite, precision flight control and more than 40 minutes of flight time to deliver unprecedented tactical reconnaissance, surveillance and target acquisition (RSTA). Its anti-armor warhead enables engagement and prosecution of hardened static and moving light armored vehicles from multiple angles without external ISR or fires assets. Switchblade 600’s patented wave-off and recommit capability allows operators to abort the mission at any time and then re-engage either the same or other targets multiple times based on operator command, resulting in minimal to no collateral damage.

ABOUT AEROVIRONMENT TACTICAL MISSILE SYSTEMS

AeroVironment’s tactical missile systems provide users with the ability to identify threats and deliver a precision lethal payload with minimal collateral damage. Switchblade® 300 and Switchblade® 600 loitering missile systems enable the warfighter to easily launch, fly, track and engage beyond line-of-sight targets and light armored vehicles across land, maritime and air-launched scenarios. The Blackwing™ loitering reconnaissance system is a variant of Switchblade designed to provide rapid-response intelligence, surveillance and reconnaissance capabilities and can be deployed from a submarine using an underwater-to-air delivery canister, shipboard or mobile ground vehicle via tube-launch or Multipack Launcher (MPL). AeroVironment’s tactical missile systems deliver the actionable intelligence and precision firepower needed to achieve mission success across multiple domains.

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/20211104005095/en/

Makayla Thomas

AeroVironment, Inc.

+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 value of AeroVironment's contract announced on September 28, 2021?

AeroVironment's contract awarded on September 28, 2021, is valued at $20.3 million.

When is the delivery date for the Switchblade 600 systems?

Delivery for the Switchblade 600 systems is scheduled to be completed by January 2023.

What capabilities does the Switchblade 600 tactical missile system offer?

The Switchblade 600 features high-precision targeting, over 40 minutes of loitering endurance, and an anti-armor warhead.

Which organization awarded the contract to AeroVironment?

The contract was awarded by the United States Special Operations Command (USSOCOM).

What is the purpose of the Switchblade 600 missile system?

The Switchblade 600 missile system is designed to engage non-line-of-sight targets and light-armored vehicles with precision.