AeroVironment Secures $20.86 Million in Puma 3 AE Unmanned Aircraft Systems Foreign Military Sales Awards for Allied Nations

Rhea-AI Summary

AeroVironment, Inc. (NASDAQ: AVAV) has secured two U.S. Department of Defense Foreign Military Sales contracts worth $20,868,105 to deliver Puma 3 All Environment unmanned aircraft systems (UAS) to two allied nations. These systems provide tactical reconnaissance for land and maritime operations, enhancing interoperability among U.S. and allied forces. The Puma 3 AE is noted for its portability and operational flexibility, making it a reliable choice for frontline forces. Over 50 allied governments currently utilize AeroVironment's unmanned systems.

Positive

• Awarded two contracts totaling $20,868,105 for Puma 3 AE UAS.
• Enhances interoperability for joint operations among U.S. and allied forces.
• Puma 3 AE systems are being adopted by allied nations for frontline capabilities.

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
• Customers are among the more than 50 allied governments employing AeroVironment’s unmanned aircraft systems

ARLINGTON, Va.--(BUSINESS WIRE)-- AeroVironment, Inc. (NASDAQ: AVAV) a global leader in intelligent, multi-domain robotic systems, today announced it received two firm-fixed-price U.S. Department of Defense Foreign Military Sales (FMS) contract awards totaling $20,868,105 to provide Puma™ 3 AE small unmanned aircraft systems (SUAS), initial spares packages, training and Contractor Logistics Support (CLS) to two allied nations.

The powerful propulsion system and aerodynamic design of the Puma 3 All Environment (AE) unmanned aircraft system makes it efficient and easy to launch for ISR missions in the most challenging environments. (U.S. Marine Corps photo by Pfc. Audrey Rampton) Disclaimer: The appearance of U.S. Department of Defense (DoD) visual information does not imply or constitute DoD endorsement.

“Deployed for well over a decade, our Puma UAS have continued to be a low-cost, man-portable, easy-to operate UAS for our customers,” said Trace Stevenson, AeroVironment vice president and product line general manager for SUAS. “With each new generation of Puma, optimizations have been made for more robust flight, durability and operational flexibility but its purpose of providing reliable and persistent situational awareness, critical force protection and force multiplication capabilities to our customers remains the same.

“Our allies are continuing to adopt and deploy Puma 3 AE and other AeroVironment systems as they recognize the importance of equipping their frontline forces with lifesaving, force overmatch solutions,” Stevenson added.

AeroVironment’s Puma 3 AE delivers mission critical capabilities in all environments. Puma 3 AE has a wingspan of 9.2 feet (2.8 meters), weighs 15.4 pounds (7 kilograms) and can operate up to 37.2 miles (60 kilometers) with AeroVironment’s Long-Range Tracking Antenna (LRTA). Multi-mission capable, operators can easily swap Puma 3 AE’s payloads quickly, selecting between the Mantis™ i45 and the enhanced night variant, Mantis i45 N. Puma 3 AE is launchable by hand, bungee, rail, or vehicle, and is recoverable by deep-stall landing, providing class-leading capabilities in challenging environments around the world.

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 and payload 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. AeroVironment provides turnkey intelligence, surveillance and reconnaissance (ISR) and support services worldwide to ensure a consistently high level of mission success. AeroVironment’s SUAS comprise 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, including Ukraine. To learn more, visit www.avinc.com.

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.

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AeroVironment, Inc.

Makayla Thomas

+1 (805) 520-8350

pr@avinc.com

Mark Boyer

For AeroVironment, Inc.

+1 (310) 229-5956

mark@boyersyndicate.com

Source: AeroVironment, Inc.