United States Army Awards AeroVironment, Four Other Companies Small Unmanned Aircraft Systems Contract Worth Up To $248 Million

January 08, 2013
  • Indefinite Delivery/Indefinite Quantity contract valued at up to $248 million supports small UAS requirements through December 2017 
  • Contract supports continued procurement and support of small unmanned aircraft systems for Army

MONROVIA, Calif., Jan. 8, 2013 -- AeroVironment, Inc. (NASDAQ: AVAV) announced that the United States Army has selected it and four other companies to compete for future small UAS requirements under a new Firm Fixed-Price Indefinite Delivery Indefinite Quantity (IDIQ) contract with a $248 million maximum value. The contract will enable the continued procurement of AeroVironment's RQ-11B Raven and RQ-20A Puma AE systems as well as competing medium- and long-range small unmanned aircraft systems.

"We have successfully competed for every major United States Department of Defense program of record involving small UAS and have delivered highly reliable systems with increasing capability to support our warfighters," said Roy Minson, AeroVironment senior vice president and general manager of its Unmanned Aircraft Systems business segment. "This new IDIQ contract provides for continued procurement of small UAS, reflecting the high value of this capability. We look forward to supporting the U.S. Army and other customers with market leading small UAS solutions that anticipate the ever- evolving needs of warfighters and address the budgetary constraints of governments."

AeroVironment Small UAS

RQ-11B Raven®, Wasp AE™, RQ-20A Puma™ and Shrike VTOL™ 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 thousands of new and replacement small unmanned air vehicles to customers within the United States and to more than 20 international governments.

The Qube™ small UAS is tailored to law enforcement, first response and other public safety missions. Small enough to fit easily in the trunk of a car, the Qube system can be unpacked, assembled and ready for flight in less than five minutes, giving the operator a rapidly deployable eye in the sky at a fraction of the cost of manned aircraft and large unmanned aircraft.


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.


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Contact:
AeroVironment, Inc.
Steven Gitlin
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Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
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