U.S. Army Selects AeroVironment JUMP 20 Medium Unmanned Aircraft System for Future Tactical Unmanned Aircraft System (FTUAS) Increment 1

Rhea-AI Summary

AeroVironment, Inc. (NASDAQ: AVAV) announced an award from the U.S. Army on Aug. 18, 2022, for Increment 1 of the Future Tactical Unmanned Aircraft System (FTUAS) program. This includes the purchase and testing of the JUMP 20 medium unmanned aircraft, designed to replace the RQ-7B Shadow UAS in Brigade Combat Teams. The JUMP 20 offers vertical takeoff and landing capabilities and enhanced intelligence, surveillance, and reconnaissance (ISR) functionalities. It can operate independently of runways, delivers 14+ hours of endurance, and features a customizable payload capacity of up to 30 pounds.

Positive

• Awarded U.S. Army contract for Increment 1 of FTUAS program.
• JUMP 20 offers enhanced ISR capabilities and operational flexibility.
• Runway-independent vertical takeoff and landing capabilities.
• 14+ hours of endurance with a payload capacity of up to 30 pounds.

Negative

• None.

• FTUAS to replace RQ-7B Shadow UAS currently fielded in selected Brigade Combat Teams
• Increment 1 entails testing and fielding JUMP 20 medium unmanned aircraft on an accelerated schedule as it competes to become the U.S. Army’s FTUAS of choice
• The JUMP 20 vertical takeoff and landing (VTOL), runway independent medium unmanned aircraft system provides intelligence, surveillance and reconnaissance (ISR) services with increased maneuverability, and improved command and control

ARLINGTON, Va.--(BUSINESS WIRE)-- AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced it received an Other Transaction Agreement award by the United States Army on Aug. 18, 2022 for Increment 1 of the Future Tactical Unmanned Aircraft System (FTUAS) program. The contract encompasses the purchase, testing and delivery of one JUMP® 20 medium unmanned aircraft system (MUAS) to a selected Army Brigade Combat Team (BCT) and associated services, training and support.

Specialist. Christopher McCoy assigned to 1st Engineer Battalion, 1st Infantry Division, conducts an engine start on the JUMP 20 prior to a launch during the FTUAS capabilities assessment at Fort Riley, Kansas. (Photo: Courtesy asset of the U.S. Department of Defense [DoD]) Disclaimer: The appearance of U.S. DoD visual information does not imply or constitute DoD endorsement.

“With Increment 1 of the FTUAS program, the Army will be testing and fielding the JUMP 20 on an accelerated schedule as they seek a replacement for the RQ-7B Shadow UAS currently fielded in Brigade Combat Teams,” said Gorik Hossepian, AeroVironment vice president and product line general manager for MUAS. “The combat-proven JUMP 20 is a rapidly deployable, runway independent, vertical takeoff and landing solution for the Army. Its ability to be deployed, operated and sustained from anywhere is a game-changer in theater and in situations where the enemy has invaded or destroyed infrastructure.”

The AeroVironment JUMP 20 is the first fixed-wing unmanned aircraft system capable of vertical takeoff and landing (VTOL) to be deployed extensively in support of U.S. military forces. Ideal for multi-mission operations, JUMP 20 delivers 14+ hours of endurance, a standard operational range of 115 miles (185 kilometers) and is runway independent. The system can be set up and operational in less than 60 minutes without the need for launch or recovery equipment and has a useable payload capacity of up to 30 pounds (13.6 kilograms). The JUMP 20 also features a common autopilot and ground control system architecture providing a highly customizable, modular platform that can be custom configured to meet operational or customer requirements.

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 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/20220819005061/en/

Makayla Thomas

AeroVironment, Inc.

+1 (805) 520-8350

pr@avinc.com

Mark Boyer

For AeroVironment, Inc.

+1 (310) 229-5956

mark@boyersyndicate.com

Source: AeroVironment, Inc.

FAQ

What is the FTUAS program related to AeroVironment, AVAV?

The FTUAS program is an initiative by the U.S. Army to enhance tactical unmanned aircraft systems, with AeroVironment's JUMP 20 selected for testing and deployment.

What capabilities does the JUMP 20 aircraft offer?

The JUMP 20 provides vertical takeoff and landing, enhanced ISR capabilities, and can operate for over 14 hours with a payload capacity of 30 pounds.

When was the contract for the FTUAS program awarded to AeroVironment?

The contract was awarded on August 18, 2022.

What aircraft will the JUMP 20 replace in the Army?

The JUMP 20 is set to replace the RQ-7B Shadow UAS currently used by Brigade Combat Teams.

Does the JUMP 20 require a runway for operation?

No, the JUMP 20 is runway independent, allowing for flexible deployment and operation.