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Press Release

October 31, 2016 at 9:10 AM EDT

The Netherlands Ministry of Defence Awards AeroVironment Contract for Small Unmanned Aircraft Systems and Upgrades Valued at $10.3 Million

  • Includes upgrade of existing AeroVironment Raven B systems to digital data link and adoption of AeroVironment's family of small UAS, including Puma AE and Wasp AE systems
  • Second contract from Dutch military for AeroVironment small UAS

MONROVIA, Calif.--(BUSINESS WIRE)-- AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS) for both military and commercial applications, today announced the receipt of a contract from the Netherlands Ministry of Defence on October 14 for small UAS, upgrades and support services totaling $10,321,375. Delivery is anticipated within six months.

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AeroVironment's Family of Unmanned Aircraft Systems includes Raven B, Puma AE and Wasp AE (Graphic:  ...

AeroVironment's Family of Unmanned Aircraft Systems includes Raven B, Puma AE and Wasp AE (Graphic: Business Wire)

The contract encompasses AeroVironment's entire family of fixed wing small UAS and includes Digital Data Link (DDL) upgrades to the Dutch forces' existing fleet of Raven® B systems, battle-proven Puma™ AE, Wasp® AE Micro Air Vehicle (MAV), and Ground Control Systems (GCS), as well as comprehensive support services.

The Netherlands procured AeroVironment Raven systems for the first time in 2008. AeroVironment has provided support services to the Netherlands since 2008.

"The Dutch Defence Materiel Organisation (DMO) evaluated our extensive operational experience with the AeroVironment Raven system against competing systems available both domestically and internationally," the DMO stated. "After careful deliberation and consideration of total value, DMO decided not only to upgrade our existing analog Raven systems with AeroVironment's digital data link, but also to procure the complete AeroVironment family of fixed wing small UAS. This builds on our initial investment and equips our forces with the most capable and reliable small UAS in the world."

"There is no greater statement of confidence in our company and our products than when customers place follow-on orders with us," said Kirk Flittie, AeroVironment vice president and general manager of its Unmanned Aircraft Systems business segment. "We are proud to provide the brave members of the Dutch armed forces with small UAS uniquely capable of helping them proceed with certainty, even in the most uncertain conditions."

About AeroVironment Small UAS

RQ-11B Raven®, RQ-12 Wasp®, RQ-20A and B Puma™ and Shrike VTOL™ comprise AeroVironment's Family of Small Unmanned Aircraft Systems. Operating with a common ground control system (GCS), this Family of Systems provides increased capability to the warfighter that can give 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 and provides mission services for customers requiring only the information its small UAS produce. AeroVironment has delivered tens of thousands of new and replacement small unmanned air vehicles to customers within the United States and to more than 30 international governments.

About AeroVironment

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, tactical missile systems and electric vehicle charging and test systems, and serves militaries, government agencies, businesses and consumers. For more information visit www.avinc.com.

Safe Harbor Statement

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as "believe," "anticipate," "expect," "estimate," "intend," "project," "plan," or words or phrases with similar meaning. Forward-looking statements are based on 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 the forward-looking statements. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, reliance on sales to the U.S. government; availability of U.S. government funding for defense procurement and R&D programs; changes in the timing and/or amount of government spending; risks related to our international business, including compliance with export control laws; potential need for changes in our long-term strategy in response to future developments; unexpected technical and marketing difficulties inherent in major research and product development efforts; changes in the supply and/or demand and/or prices for our products and services; the activities of competitors and increased competition; failure of the markets in which we operate to grow; failure to remain a market innovator and create new market opportunities; changes in significant operating expenses, including components and raw materials; failure to develop new products; the extensive regulatory requirements governing our contracts with the U.S. government; product liability, infringement and other claims; changes in the regulatory environment; 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.
Steven Gitlin, +1 (626) 357-9983
pr@avinc.com
or
For AeroVironment, Inc.
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Source: AeroVironment, Inc.

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