Order expands existing contract for Switchblade systems and services
Switchblade successfully demonstrated in December for multiple
MONROVIA, Calif.--(BUSINESS WIRE)--
Inc. (NASDAQ: AVAV) today announced it recently received an order
from the United States Air Force for Switchblade loitering munition
systems and services. The $4,167,777 extension to an existing contract
includes engineering services, operational Switchblade systems and
operator training. AeroVironment will work with ATK (NYSE: ATK), its
munition subcontractor, to produce and deliver the systems.
AeroVironment's Switchblade Loitering Munition System provides beyond line of sight precision strike capability to dismounted troops (Photo: Business Wire)
AeroVironment also announced that it performed a successful series of
live fire demonstrations for multiple U.S. government customers at a
military facility in December 2011. The daytime and nighttime
demonstrations further illustrated the unique capabilities of the
Switchblade system to neutralize threats from a stand-off distance in a
variety of operating environments.
The Switchblade loitering munition system launches from a small tube
that can be carried in a backpack and transmits live color and infrared
video wirelessly for display on AeroVironment's standard small unmanned
aircraft system (UAS) ground control unit. Upon confirming the target
using the live video feed, the system operator then sends a command to
the air vehicle to arm its payload and lock its trajectory onto the
target. Switchblade flies quietly at high speed and delivers the effects
of its onboard explosive payload with precision while minimizing
collateral damage. The operator can call off a strike even after the
Switchblade system is armed, providing a level of control not available
in other weapon systems.
Instead of requiring support from weapon systems controlled by other
operating units, troops can use the ground launched Switchblade variant
to respond to enemy combatants with precision fire from a significant
standoff distance, when and where required, representing a valuable new
force protection capability.
"This order is another step on the path toward the broader adoption of
Switchblade to protect our troops," said Tom Herring, AeroVironment
senior vice president and general manager of its Unmanned Aircraft
Systems business segment. "ATK is an outstanding partner whose expertise
and can-do spirit are helping us refine Switchblade into a practical and
affordable new solution for force protection and force multiplication."
"We are pleased to support AeroVironment and the U.S. Air Force as we
validate further the breakthrough Switchblade system in real world
conditions," said Mark Messick, vice president and general manager of
Advanced Systems, ATK Aerospace Systems. "This award will enable
significant progress in maturing the system for broader use."
About AeroVironment, Inc.
AeroVironment is a technology solutions provider that designs, develops,
produces and supports an advanced portfolio of Unmanned
Aircraft Systems (UAS) and electric transportation solutions.
Agencies of the U.S. Department of Defense and allied military services
use the company's electric-powered, hand-launched
unmanned aircraft systems extensively to provide situational
awareness to tactical operating units through real-time, airborne
reconnaissance, surveillance and communication. Multiple government
agencies have helped to fund the development and demonstration of Global
Observer®, a hybrid-electric,
stratospheric UAS designed to provide affordable, persistent
reconnaissance and communication over any location on the globe.
AeroVironment's electric transportation solutions include a
comprehensive suite of electric
vehicle (EV) charging systems, installation and data services for
consumers, automakers, utilities and government agencies, power
cycling and test systems for EV developers and industrial
electric vehicle charging systems for commercial fleets. More
information about AeroVironment is available at www.avinc.com.
ATK is an aerospace, defense, and commercial products company with
operations in 22 states, Puerto Rico, and internationally, and revenues
of approximately $4.8 billion. News and information can be found on the
Internet at www.atk.com.
AeroVironment 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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Steven Gitlin, +1 626-357-9983
Mark Boyer, +1 310-229-5956
Source: AeroVironment, Inc.
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