Release Details

• Raven system, with Mantis i23 sensor suite and pocket Remote Video Terminal (p/RVT), greatly enhances missions by adding stand-off/intercept, real-time surveillance and connectivity
• With proven track record in combat use around the globe, Raven systems operate successfully and reliably from a variety of austere operational environments
• Portuguese Army joins a growing number of allies adopting and fielding AeroVironment’s family of unmanned aircraft systems

SIMI VALLEY, Calif.--(BUSINESS WIRE)--Sep. 13, 2018-- AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS) for both defense and commercial applications, announced today the receipt of a fixed-price contract award valued at $5,962,494 from NSPA on August 20, 2018. The contract award encompasses the procurement of Raven™ unmanned aircraft systems equipped with Mantis i23 sensors and pocket Remote Video Terminals (p/RVT) for the Portuguese Army, with delivery scheduled over a three-year period.

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Portuguese Army Procures AeroVironment Raven Unmanned Aircraft Systems (Photo: Business Wire)

“AeroVironment’s Raven unmanned aircraft system, equipped with our Mantis i23 gimbaled sensor suite and pocket Remote Video Terminal, packs significant capabilities into a portable, man-packable platform for operations in austere environments around the globe,” said Kirk Flittie, vice president and general manager of AeroVironment’s Unmanned Aircraft Systems business. “Our small UAS deliver valuable situational awareness directly to frontline warfighters at a fraction of the procurement and lifecycle cost of larger UAS. The Raven system will provide the Portuguese Army with rapid and effective force protection as well as interoperability capabilities with NATO forces, supporting coalition mission integration.”

With the Family of Systems (FoS) concept, customers can add other AeroVironment small UAS to augment their capabilities while utilizing the same ground control station and software for added simplicity and efficiency, providing for interoperability across NATO forces. The Portuguese Army’s adoption of the Raven system represents the 18th of 29 NATO member nations to adopt AeroVironment’s family of small UAS.

About AeroVironment Small UAS

RQ-11B Raven®, RQ-12 Wasp®, RQ-20B Puma™ 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 45 allied nations.

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 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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View source version on businesswire.com: https://www.businesswire.com/news/home/20180913005331/en/

Source: AeroVironment, Inc.

AeroVironment, Inc.
Steven Gitlin
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For AeroVironment, Inc.
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