Release Details

• Potential contract options total as much as $55 million; initial base delivery order is $862,488

• Hand-launched AeroVironment Raven is the most widely used military unmanned aircraft system in the world

SIMI VALLEY, Calif.--(BUSINESS WIRE)--Nov. 13, 2019-- AeroVironment, Inc. (NASDAQ:AVAV), a global leader in unmanned aircraft systems (UAS) for both defense and commercial applications, announced the U.S. Army awarded the company a firm-fixed-price contract on June 6, 2019 to begin radio frequency modifications on its currently deployed Raven® UAS. The initial base delivery order is $862,488, with potential contract options valued up to $55 million.

“AeroVironment engineered and manufactures the Raven system, so we are best equipped to support quick and efficient field upgrades to ensure maximum Raven system uptime and force protection for operators around the world,” said Rick Pedigo, vice president, sales and business development for AeroVironment. “AeroVironment and the Army are committed to supplying soldiers closest to the fight with the most advanced aerial robotic technology to gain critical situational awareness anywhere and at any time to help them proceed with certainty.”

AeroVironment won the competitive bid as part of the Army’s $248.5 million five-year Indefinite Delivery Indefinite Quantity small UAS sustainment contract announced in April 2018. AeroVironment and six other awardees were selected as part of the IDIQ contract, which covers six domains: Systems, Tactical Open Government Owned Architecture (TOGA), Other Major Components, RQ-20A Puma Spares, RQ-11B Raven Spares and Flight Control Systems (FCS). The Army selected AeroVironment as the sole-source supplier for RQ-20A and RQ-11B spares and for FCS.

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 ranges up to approximately 6.2 miles (10 kilometers). With its stabilized gimbaled payload, the Raven delivers real-time color or infrared imagery to ground control and remote viewing stations.

About AeroVironment Small UAS

The RQ-20A/B Puma™, 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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Source: AeroVironment, Inc.

AeroVironment, Inc.
Steven Gitlin
+1 (805) 520-8350
pr@avinc.com

Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
mark@boyersyndicate.com