U.S. Army Selects AeroVironment JUMP 20 Medium Unmanned Aircraft System to Enter Future Tactical Unmanned Aircraft System (FTUAS) Program Increment 2

Rhea-AI Summary

AeroVironment (NASDAQ: AVAV) has been awarded a contract for the Future Tactical Unmanned Aircraft System (FTUAS) program from the U.S. Army, announced on February 28, 2023. This contract includes Increment 2, which is the final phase in the program aimed at replacing the RQ-7B Shadow UAS. Notably, AeroVironment is the only company to secure awards for all FTUAS increments. The JUMP® 20 system will compete to replace the aging technology, highlighting AeroVironment's successful track record demonstrated through prior contracts. The company aims to meet evolving Army demands with its mature capabilities.

Positive

• Awarded FTUAS Increment 2 contract by U.S. Army.
• Only company to secure all FTUAS program increments.
• Demonstrated superior performance leading to earlier contracts for Increment 0 and 1.

Negative

• None.

• AeroVironment is the only company to secure an award for all FTUAS program increments, including FTUAS Increments 0,1 and now 2
• Increment 2 is the final phase of the U.S. Army’s FTUAS program competition to select a replacement for the RQ-7B Shadow UAS

 

ARLINGTON, Va.--(BUSINESS WIRE)-- AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced it was selected by the United States Army on Feb. 28, 2023, to move forward in the Future Tactical Unmanned Aircraft System (FTUAS) program.

The JUMP 20 is shown conducting flight tests and maneuvers on February 25-26, 2021, at Fort Benning, Georgia during the Future Tactical Unmanned Aircraft System (FTUAS) Rodeo. (Photo: Courtesy asset of the U.S. Department of Defense attributed to Mr. Luke J. Allen). The appearance of U.S. DoD visual information does not imply or constitute DoD endorsement.

AeroVironment’s JUMP® 20 will compete with several other vendors in the FTUAS Increment 2 multi-phased effort which will allow the Army to select the best system for its needs. Ultimately, FTUAS Increment 2 aircraft will be fielded to Brigade Combat Teams (BCTs) throughout the Army, replacing the long-serving RQ-7B Shadow UAS.

During the early stages of what would become the U.S. Army’s FTUAS program, AeroVironment’s JUMP 20 demonstrated superior competitive performance and was awarded the FTUAS Increment 1 contract to develop a prototype system to field to one Brigade Combat Team (BCT). Its success throughout the demonstrations led to AeroVironment’s contract award for FTUAS Increment 0, in which the U.S. Army fielded the JUMP 20 into an additional Army BCT within the United States Army Europe. AeroVironment is the only company awarded the FTUAS contract for all three program increments.

“The AeroVironment JUMP 20 is the most mature and capable solution in its class,” said Gorik Hossepian, AeroVironment’s vice president and product line general manager for medium unmanned aircraft systems. “We will continue to work closely with the U.S. Army to ensure we meet their performance needs both today for an all-environment aircraft system and in the future as requirements evolve to meet changing battlefield demands.”

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/20230301005786/en/

Ashley Riser

AeroVironment, Inc.

+1 (805) 750-6176

pr@avinc.com

Mark Boyer

For AeroVironment, Inc.

+1 (213) 247-4109

mark@boyersyndicate.com

Source: AeroVironment, Inc.

FAQ

What is AeroVironment's recent contract award related to FTUAS?

AeroVironment was awarded the FTUAS Increment 2 contract by the U.S. Army on February 28, 2023.

What does the FTUAS Increment 2 contract entail?

The FTUAS Increment 2 contract is part of a program to select a replacement for the RQ-7B Shadow UAS.

What is the significance of AeroVironment securing all FTUAS increments?

AeroVironment's securing of all FTUAS program increments underscores its leadership and competitive edge in unmanned aircraft systems.

How does the JUMP® 20 fit into the U.S. Army's FTUAS program?

The JUMP® 20 will compete in the multi-phased effort of FTUAS Increment 2 to meet the Army's operational needs.