AeroVironment Awarded $4 Million Small Unmanned Aircraft Systems Foreign Military Sales Contract for U.S. Ally

Rhea-AI Summary

AeroVironment (NASDAQ: AVAV) secured a $4,151,320 contract from the U.S. Department of Defense for Foreign Military Sales on Sept. 27, 2021. The contract includes the delivery of Puma 3 AE and Wasp AE unmanned aircraft systems (UAS), along with initial spares, training, and support to an allied nation. Deliveries are expected by September 2022. These UAS are designed for tactical intelligence and reconnaissance in land and maritime operations, enhancing mission effectiveness for allied forces.

Positive

• Secured a $4,151,320 contract from the U.S. Department of Defense.
• Enhances tactical capabilities for allied forces with Puma 3 AE and Wasp AE UAS.

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• None.

• Puma 3 All Environment (AE) and Wasp AE unmanned aircraft systems deliver immediate tactical intelligence, surveillance, and reconnaissance in maritime and land operations
• 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 $4,151,320 firm-fixed-price U.S. Department of Defense Foreign Military Sales (FMS) contract award on Sept. 27, 2021 to provide Puma™ 3 AE and Wasp® AE small unmanned aircraft systems (UAS), initial spares packages, training and support to an allied nation. Delivery is anticipated by September 2022.

The Puma 3 AE and Wasp AE systems provide operators with reliable, on-demand tactical intelligence, surveillance, and reconnaissance and combine hand-launch capabilities with a deep-stall landing for operations in confined areas on land or water. (Image: AeroVironment, Inc.)

“Allied forces around the world continue to adopt and deploy AeroVironment’s battle-proven small unmanned aircraft systems in order to increase the mission effectiveness and safety of their frontline forces,” said Trace Stevenson, AeroVironment vice president and product line general manager for small UAS.

AeroVironment’s Puma 3 AE unmanned aircraft system is designed for land and maritime operations. The hand-launched Puma 3 AE has a wingspan of 9.2 feet, weighs 15 pounds and can operate for up to 2.5 hours. The aircraft also has a range of 12.4 miles (20 kilometers) with a standard range antenna, up to 24.9 miles (40 kilometers) with AeroVironment’s Extended Range Antenna (ERA) and up to 37.2 miles (60 kilometers) with AeroVironment’s Long-Range Tracking Antenna (LRTA). It also features reduced system packaging with a flyable configuration and Ground Control System (GCS) in one case. Capable of landing in water or on land, the all-environment Puma 3 AE and Mantis i45 EO/IR sensor suite empower operators with extended flight time and a level of imaging capability never before available in the small UAS class.

Wasp AE is a lightweight, man-packable UAS that weighs just over a kilogram and delivers best-in-class capabilities for an unmanned aircraft system of its size, including stealthy maneuverability, superior imagery, encrypted video and exceptional ease of use. Wasp’s gimbaled payload is mechanically stabilized, enabling it to transmit advanced imagery in high-wind conditions, while its advanced avionics allow operators the option of manual or autonomous navigation.

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 unmanned aircraft systems (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 is improved by enabling users to easily share real-time information and coordinate mission-critical decisions. 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. 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/20211201005007/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 contract did AeroVironment win related to AVAV stock?

AeroVironment won a $4,151,320 contract from the U.S. Department of Defense for Foreign Military Sales on Sept. 27, 2021.

When will AeroVironment deliver the Puma 3 AE and Wasp AE systems?

AeroVironment plans to deliver the Puma 3 AE and Wasp AE systems by September 2022.

How do Puma 3 AE and Wasp AE systems benefit allied forces?

These systems provide immediate tactical intelligence, surveillance, and reconnaissance, improving mission effectiveness and safety for allied forces.

What are the capabilities of the Puma 3 AE unmanned aircraft?

The Puma 3 AE has a wingspan of 9.2 feet, operates for up to 2.5 hours, and has a range of up to 37.2 miles with advanced antennas.