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Defense Stock News: Aerovironment (NASDAQ: $AVAV) Secures $8.4 Million Puma 3 AE Unmanned Aircraft Systems Foreign Military Sales Contract Award For U.S. Ally

 

SIMI VALLEY, Calif. - October 13, 2020 (Investorideas.com Newswire) AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced it secured a $8,371,332 firm-fixed-price U.S. Department of Defense FMS contract award on September 25, 2020 for Puma™ 3 AE tactical UAS, training and support to an allied nation. Delivery is anticipated by March 2021.


Puma 3 AE (All Environment) is ideal for use in day, night, or low-light environments, and for land or maritime operations. (Photo: Business Wire)

"The United States Department of Defense and the defense forces of 50 allied nations around the world rely on AeroVironment’s family of tactical unmanned aircraft systems to protect and empower frontline troops in the harshest operating environments," said Rick Pedigo, vice president of sales and business development at AeroVironment. "With an unmatched track record for reliability and effectiveness in combat, training and humanitarian operations, and a roadmap of continuous enhancement and innovation into the future, customers can rely on AeroVironment to proceed with certainty into any operational scenario."

The AeroVironment Puma 3 AE is a fully man-portable unmanned aircraft system designed for land and maritime operations. The hand-launched Puma 3 AE has a wingspan of 9.2 feet (2.8 meters), weighs 15 pounds (6.8 kilograms) and operates for up to 2.5 hours at line-of-sight range of 20 kilometers with a standard antenna, and up to 60 kilometers with AeroVironment’s Long-Range Tracking Antenna. Capable of landing in water or on land, the all-environment Puma, with its Mantis i45 sensor suite, empowers the operator with extended flight time and a level of imaging capability never before available in the tactical UAS class.

To expand operational range, AeroVironment’s Long-Range Tracking Antenna (LRTA) can be used with Puma 3 AE, and all other Digital Data Link (DDL) equipped UAS, increasing line-of-sight command and control up to 60 kilometers. The LRTA features a directional antenna mounted on a tracking positioner that allows for automatic or manual tracking of an aircraft at an extended stand-off range. In addition, an omnidirectional antenna provides redundancy and 360-degree coverage with reduced range capabilities. The LRTA is now offered in two versions – M1/2/5 and M3/4/6 – to support all DDL frequency bands and fit diverse mission needs.

About AeroVironment Tactical UAS

The RQ-20A/B Puma™, Puma™ LE, RQ-11B Raven®, RQ-12A Wasp®, together with the VAPOR® Helicopter, 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 50 allied governments.

About AeroVironment, Inc.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can proceed with certainty. Celebrating 50 years of innovation, 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 uncertainty in the customer adoption rate of such 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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