AV Secures $743 Million Additional Contract Ceiling for Switchblade Loitering Munition Systems
AeroVironment (AVAV) has secured a $743 million additional contract ceiling for Switchblade® loitering munition systems from the U.S. Army. The contract includes a $54.9 million delivery order for production, with work to be performed in Simi Valley, California, and an estimated completion date of June 30, 2026.
This award is part of a broader indefinite delivery, indefinite quantity contract, supporting both the U.S. Army and allied partners including Lithuania, Romania, and Sweden. The contract utilizes fiscal 2023 and 2024 Army funds along with Foreign Military Sales.
Brett Hush, AV's senior vice president and general manager of Loitering Munition Systems, emphasized the company's commitment to delivering upgraded capabilities based on real-time battlefield feedback.
AeroVironment (AVAV) ha ottenuto un ulteriore tetto contrattuale di 743 milioni di dollari per i sistemi di munizioni loitering Switchblade® dall'esercito degli Stati Uniti. Il contratto include un ordine di consegna da 54,9 milioni di dollari per la produzione, con lavori che saranno eseguiti a Simi Valley, California, e una data di completamento stimata per il 30 giugno 2026.
Questo riconoscimento è parte di un contratto di consegna indefinita e quantità indefinita, a supporto sia dell'esercito degli Stati Uniti che dei partner alleati, inclusi Litonia, Romania e Svezia. Il contratto utilizza fondi dell'esercito del 2023 e 2024 insieme alle vendite militari estere.
Brett Hush, vicepresidente senior di AV e direttore generale dei sistemi di munizioni loitering, ha sottolineato l'impegno dell'azienda a fornire capacità aggiornate basate sul feedback in tempo reale dal campo di battaglia.
AeroVironment (AVAV) ha obtenido un techo contractual adicional de 743 millones de dólares para los sistemas de municiones loitering Switchblade® del ejército de EE. UU. El contrato incluye una orden de entrega de 54,9 millones de dólares para producción, con trabajos que se llevarán a cabo en Simi Valley, California, y una fecha de finalización estimada para el 30 de junio de 2026.
Este premio es parte de un contrato de entrega indefinida y cantidad indefinida, que apoya tanto al ejército de EE. UU. como a socios aliados, incluyendo Lituania, Rumanía y Suecia. El contrato utiliza fondos del ejército de 2023 y 2024 junto con ventas militares extranjeras.
Brett Hush, vicepresidente senior de AV y gerente general de sistemas de municiones loitering, enfatizó el compromiso de la empresa de entregar capacidades mejoradas basadas en comentarios en tiempo real del campo de batalla.
AeroVironment (AVAV)는 미 육군을 위해 Switchblade® 유도 폭탄 시스템에 대해 7억 4천3백만 달러의 추가 계약 한도를 확보했습니다. 이 계약에는 생산을 위한 5천4백90만 달러의 납품 주문이 포함되어 있으며, 캘리포니아주 시미 밸리에서 작업이 수행될 예정입니다. 완료 예정일은 2026년 6월 30일입니다.
이 수상은 무기 계약의 일환으로, 미 육군과 리투아니아, 루마니아, 스웨덴을 포함한 동맹 국가들을 지원합니다. 이 계약에는 2023 및 2024 회계연도의 육군 자금과 해외 군사 판매가 포함됩니다.
AV의 선임 부사장이자 유도 폭탄 시스템 총괄 매니저인 Brett Hush는 전장 피드백을 기반으로 한 고급 기능 제공에 대한 회사의 의지를 강조했습니다.
AeroVironment (AVAV) a obtenu un plafond de contrat supplémentaire de 743 millions de dollars pour les systèmes de munitions loitering Switchblade® de l'armée américaine. Le contrat comprend un ordre de livraison de 54,9 millions de dollars pour la production, avec des travaux à réaliser à Simi Valley, en Californie, et une date d'achèvement estimée au 30 juin 2026.
Cette attribution fait partie d'un contrat de livraison indéfinie et de quantité indéfinie, soutenant à la fois l'armée américaine et des partenaires alliés tels que la Lituanie, la Roumanie et la Suède. Le contrat utilise des fonds budgétaires de l'armée pour les exercices 2023 et 2024, ainsi que des ventes militaires étrangères.
Brett Hush, vice-président senior d'AV et directeur général des systèmes de munitions loitering, a souligné l'engagement de l'entreprise à fournir des capacités améliorées basées sur les retours du champ de bataille en temps réel.
AeroVironment (AVAV) hat einen zusätzlichen Vertragsrahmen von 743 Millionen Dollar für die Switchblade®-Munitionssysteme des US-Militärs gesichert. Der Vertrag umfasst einen Lieferauftrag über 54,9 Millionen Dollar für die Produktion, mit Arbeiten, die in Simi Valley, Kalifornien, durchgeführt werden, und einem voraussichtlichen Abschlussdatum von 30. Juni 2026.
Diese Auszeichnung ist Teil eines umfassenderen Vertrags für unbestimmte Lieferung und unbestimmte Menge, der sowohl das US-Militär als auch verbündete Partner wie Litauen, Rumänien und Schweden unterstützt. Der Vertrag nutzt Haushaltsmittel des US-Militärs aus den Jahren 2023 und 2024 sowie aus dem Bereich der Verkäufe an ausländische Militärs.
Brett Hush, Senior Vice President von AV und Geschäftsführer der Munitionssysteme, betonte das Engagement des Unternehmens, verbesserte Fähigkeiten auf Grundlage von Echtzeit-Feedback vom Schlachtfeld zu liefern.
- Secured $743 million additional contract ceiling for Switchblade systems
- Received $54.9 million delivery order for immediate production
- Contract supports U.S. Army and allied partners (Lithuania, Romania, Sweden)
- Estimated completion date of June 30, 2026, indicating long-term revenue stream
- None.
Insights
This $743 million contract ceiling increase for Switchblade loitering munition systems is a significant win for AeroVironment (AVAV). The immediate
The inclusion of Foreign Military Sales to Lithuania, Romania and Sweden demonstrates growing international demand for AVAV's technology, potentially opening new markets. This diversification could help mitigate risks associated with reliance on a single customer.
With a market cap of
However, investors should monitor potential challenges such as production scalability, margin pressures from increased competition and geopolitical risks that could affect defense spending. Overall, this contract strengthens AVAV's position in the tactical drone market and supports a positive outlook for the company's growth trajectory.
The Switchblade loitering munition system represents a cutting-edge capability in modern warfare, combining the persistence of a drone with the lethality of a missile. This substantial contract expansion indicates strong battlefield performance and increasing adoption by U.S. and allied forces.
The system's versatility, from the man-portable Switchblade 300 to the larger anti-armor Switchblade 600, addresses a wide range of tactical scenarios. This flexibility likely contributed to the contract's significant value and international interest.
AeroVironment's mention of "upgraded capabilities based on real-time battlefield feedback" suggests ongoing innovation and product improvement. This adaptive approach is important in maintaining a technological edge and could lead to further contract expansions or new opportunities in the future.
The inclusion of multiple allied nations in this contract also points to potential interoperability benefits, which could enhance AeroVironment's appeal in joint military operations and NATO-related procurements. This international dimension may open doors for additional sales and partnerships beyond the scope of this specific contract.
Switchblade 600 Loitering Munition System (Photo: AeroVironment)
Work on this contract will be performed in
“This contract allows us to continue delivering Switchblade systems to the
AV remains focused on providing warfighters with superior, reliable, affordable systems at scale to meet the evolving requirements of its global defense customers.
ABOUT AEROVIRONMENT
AeroVironment (NASDAQ: AVAV) is a global leader in intelligent multi-domain robotic systems, uncrewed aircraft and ground systems, sensors, software analytics and connectivity. Headquartered in
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20241014582321/en/
René Bardorf
AeroVironment
+1 703.418.2828
pr@avinc.com
Source: AeroVironment
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