08/19/2019 | Press release | Distributed by Public on 08/19/2019 07:30
August 19, 2019
SIMI VALLEY, Calif., Aug. 19, 2019 - AeroVironment, Inc. (NASDAQ:AVAV), a global leader in unmanned aircraft systems for both defense and commercial applications, today announced it received a firm fixed-price contract award on July 25, 2019 valued at $45,190,881 for RQ-11B Raven ® small unmanned aircraft systems (UAS) and initial spares packages. AeroVironment received the contract award from the United States Army for its Security Force Assistance Brigades (SFAB). Delivery is anticipated by January 2020.
The SFAB are specialized units with the core mission to conduct training, advising, assisting, enabling and accompanying operations with allied and partner nations.
'Raven is the most widely deployed small unmanned aircraft system in the United States Department of Defense's fleet,' said Rick Pedigo, vice president, sales and business development for AeroVironment. 'Our family of small unmanned aircraft systems supports all U.S. military services and more than 45 allied nations. Every day, AeroVironment small UAS provide the actionable intelligence our customers need to proceed with certainty.'
In a report published by the United States Army on July 24, 2019, Sgt. Jordan Aguiar, a cavalry scout assigned to Alpha Troop of the 2nd Squadron, 101st Cavalry Regiment, said the Raven is more agile and less detectable than larger and more costly unmanned aircraft. Soldiers use it to conduct battlefield reconnaissance and provide their units with a greater level of security. Sgt. Foluke Marsh added, 'If you need to have eyes on a target, or eyes on a convoy to make sure everything is safe, it's good to send out the Raven instead of risking someone getting hurt or killed.'
About AeroVironment, Inc. (AV)
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.
+1 (626) 357-9983
For AeroVironment, Inc.
+1 (310) 229-5956