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AeroVironment Awarded $12 Million Support Contract from Major Middle Eastern Ally


AeroVironment, Inc. (NASDAQ:AVAV), a global leader in unmanned aircraft systems (UAS), today announced a major Middle Eastern ally awarded the company a firm fixed-price contract valued at


AeroVironment, Inc. (NASDAQ:AVAV), a global leader in unmanned aircraft systems (UAS), today announced a major Middle Eastern ally awarded the company a firm fixed-price contract valued at $11,999,992 on October 25, 2019 for logistics support, spares, and repair services in support of its existing fleet of AeroVironment’s Puma™ AE and Raven® B tactical UAS. The contract award period of performance is two years.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191114005241/en/

AeroVironment's Puma 3 AE UAS is rapidly deployed anywhere, anytime, in any environment for continuous or on-demand spot surveillance (Photo: Business Wire)

AeroVironment's Puma 3 AE UAS is rapidly deployed anywhere, anytime, in any environment for continuous or on-demand spot surveillance (Photo: Business Wire)

“Our United States and global customers require reliable, rugged and combat-proven tactical unmanned aircraft systems that defense and security personnel can deploy immediately from their rucksacks without the need for runways or other launch logistics,” said Rick Pedigo, vice president of sales and business development for AeroVironment. “This order builds on our fast-growing international customer base as more allied forces rely on our innovative systems to proceed with certainty on the frontlines.”

AeroVironment’s Raven system is designed for rapid deployment and high mobility for applications requiring low-altitude intelligence, surveillance and reconnaissance. With a wingspan of 4.5 feet and weighing 4.2 pounds, the hand-launched Raven provides aerial observation, day or night, at line-of-sight range of at least 6.2 miles (10 kilometers). The Raven’s stabilized gimbaled payload delivers real-time color or infrared imagery to ground control and remote viewing stations.

The AeroVironment Puma AE is a fully man-portable unmanned aircraft system designed for land and maritime operations. The hand-launched Puma AE has a wingspan of 9.2 feet, weighs 15 pounds and operates for up to 2.5 hours at line-of sight range of 20 kilometers with a standard antenna, and up to 60 kilometers with AeroVironment’s Long-Range Tracking Antenna. Capable of landing in water or on land, the all-environment Puma, with its Mantis i45 sensor suite, empowers the operator with extended flight time and a level of imaging capability never before available in the small UAS class.

About AeroVironment Tactical UAS

The RQ-20A/B Puma™, Puma™ LE, RQ-11B Raven®, RQ-12A Wasp®, together with VAPOR® Helicopter UAS comprise AeroVironment’s family of tactical Unmanned Aircraft Systems. This Family of Systems provides increased capability to the warfighter that gives ground commanders the option of selecting the appropriate aircraft based on the type of mission to be performed. This increased capability has the potential to provide significant force protection and force multiplication benefits to small tactical units and security personnel. AeroVironment provides logistics services worldwide to ensure a consistently high level of operational readiness. AeroVironment has delivered thousands of new and replacement tactical unmanned air vehicles to customers within the United States and to more than 45 allied governments.

About AeroVironment, Inc.

AeroVironment (NASDAQ: AVAV) provides customers with more actionable intelligence so they can proceed with certainty. Based in California, AeroVironment is a global leader in unmanned aircraft systems and tactical missile 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 Stock

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We can see a decrease in the price for Aerovironment. Compared to yesterday it has lost -€0.540 (-1.060%).

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