AeroVironment Awarded $21 Million Contract Option for Raven Radio Frequency Modifications Under Existing U.S. Army FCS Contract
AeroVironment (NASDAQ: AVAV) announced the U.S. Army exercised a contract option worth $20,979,905 on February 25, 2021, for Flight Control Systems under a multi-year small UAS contract. This contract includes upgrades for the Raven tactical UAS. The contract's total value is now $42,901,035 as part of a potential $55 million IDIQ contract. The Raven system, a leader in tactical UAS, enhances mission effectiveness and situational awareness for Army personnel with features like a 6.2-mile range and real-time video capabilities.
- Contract option worth $20,979,905 increases total contract value to $42,901,035.
- Potential contract value of the Army’s FCS domain could reach $55 million.
- Raven tactical UAS is recognized for enhancing mission effectiveness and safety for Army personnel.
- None.
AeroVironment, Inc. (NASDAQ: AVAV), a global leader in Unmanned Aircraft Systems (UAS), today announced the United States Army exercised the second of three options under the sole source Flight Control Systems (FCS) domain of the Army’s multi-year small UAS contract on February 25, 2021. The value of the contract option is
A U.S. Army Soldier hand launches a Raven B UAS in order to have a birds-eye view of the area during a field training exercise at Fort Sill, OK. (Photo: U.S. Army photo by Sgt. Dustin D. Biven)
The contract option was exercised under the Army’s FCS domain awarded to AeroVironment in June 2019 with an initial base delivery order of
“The U.S. Army possesses the largest fleet of Raven small unmanned aircraft systems in the world. For more than a decade, Raven systems have provided frontline Soldiers with increased mission effectiveness, safety and situational awareness so they can proceed with certainty,” said Trace Stevenson, vice president and product line general manager of small UAS.
The Raven system is designed for rapid deployment and high mobility for operations requiring low-altitude Intelligence, Surveillance and Reconnaissance (ISR). With a wingspan of 4.5 feet and weighing just 4.2
AeroVironment’s family of tactical 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 unmanned aircraft systems. The JUMP 20, T-20 and Puma™ LE provide extended range, multi-payload capabilities, and the Puma™ RQ-20, Raven® RQ-11B, Wasp® RQ-12A, VAPOR® Helicopter and automated Quantix™ Recon deliver highly tactical, frontline situational awareness. These solutions deliver increased, multi-mission capabilities and the option of selecting the appropriate aircraft based on the type of mission 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. AeroVironment provides turnkey 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. Celebrating 50 years of innovation, AeroVironment is a global leader in unmanned aircraft systems and tactical missile 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.
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FAQ
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