AeroVironment Awarded $8.5 Million Puma AE Unmanned Aircraft Systems Foreign Military Sales Contract for U.S. Ally

Rhea-AI Summary

AeroVironment (NASDAQ: AVAV) has secured a $8,541,428 contract from the U.S. Department of Defense under its Foreign Military Sales program, announced on January 27, 2022. The contract involves delivering Puma™ 3 AE unmanned aircraft systems, initial spare parts, training, and support to an allied nation, with expected delivery by November 2022. The Puma 3 AE provides tactical reconnaissance capabilities and has a wingspan of 9.2 feet, a weight of 15 pounds, and an operational range of up to 37.2 miles (60 km).

Positive

• Secured an $8,541,428 contract from the U.S. Department of Defense.
• Enhances operational capabilities for allied nations with the Puma 3 AE system.
• Puma 3 AE offers tactical reconnaissance in diverse environments.

Negative

• None.

• Portable, rugged Puma 3 All Environment (AE) unmanned aircraft system provides immediate tactical reconnaissance capabilities for land and maritime operations
• 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 $8,541,428 firm-fixed-price U.S. Department of Defense Foreign Military Sales (FMS) contract award on Jan. 27, 2022 to provide Puma™ 3 AE small unmanned aircraft systems (UAS), initial spares packages, training and support to an allied nation. Delivery is anticipated by November 2022.

The Puma 3 All Environment (AE) unmanned aircraft system operates autonomously, providing persistent intelligence, surveillance, reconnaissance and targeting data (U.S. Navy photo by Mass Communication Specialist 3rd Class Bill Dodge/Released). Disclaimer: The appearance of U.S. Department of Defense (DoD) visual information does not imply or constitute DoD endorsement.

“Combat-proven, versatile and reliable, Puma 3 AE provides persistent situational awareness, critical force protection and force multiplication capabilities to small tactical units conducting operations in salt water, fresh water or on land,” said Trace Stevenson, AeroVironment vice president and product line general manager for small UAS.

AeroVironment’s Puma 3 AE delivers mission critical intelligence, surveillance and reconnaissance (ISR) in all environments. Puma 3 AE has a wingspan of 9.2 feet (2.8 meters), weighs 15 pounds (6.8 kilograms) and can operate for up to 37.2 miles (60 kilometers) with AeroVironment’s Long-Range Tracking Antenna (LRTA). Multi-mission capable, operators can swap between Mantis™ i45 and the enhanced night variant Mantis i45 N for day, night and low-light operations. Puma 3 AE is launchable by hand, bungee, rail, or vehicle, and recoverable by deep-stall landing, providing class-leading capabilities in challenging environments around the world.

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 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 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/20220215005324/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 latest contract AeroVironment (AVAV) received?

AeroVironment received an $8,541,428 contract from the U.S. Department of Defense for the Puma 3 AE unmanned aircraft system.

When was the contract for the Puma 3 AE awarded to AeroVironment?

The contract was awarded on January 27, 2022.

What capabilities does the Puma 3 AE unmanned aircraft system provide?

The Puma 3 AE provides tactical reconnaissance capabilities for land and maritime operations.

When will the Puma 3 AE systems be delivered?

Delivery of the Puma 3 AE systems is anticipated by November 2022.

How many allied governments use AeroVironment's small UAS?

AeroVironment's small UAS is used by more than 50 allied governments.