AeroVironment Receives $15.8 Million Initial Order from United States Army for RQ-11B Raven Small Unmanned Aircraft Systems, New Payload

June 01, 2012
  • Total projected value of contract action is $65.9 million 
  • Includes first order for miniature gimbaled payload integrating an electro-optical and infrared video sensor for improved tracking capabilities 
  • Modular payload compatible with existing Raven® systems

MONROVIA, Calif., June 1, 2012 -- AeroVironment, Inc. (NASDAQ:AVAV) today announced it received a $15,813,406 firm fixed-price authorization to perform on May 22, 2012 from the United States Army as the initial portion of a contract action with a total projected value of $65,889,191. The order includes RQ-11B Raven systems, new miniature gimbaled payloads and initial spares packages, and is funded from the Army's fiscal 2012 procurement budget. Delivery of systems, spares and payloads is scheduled for completion by April 30, 2013.

AeroVironment unveiled its Mantis™ line of miniature gimbaled sensor payloads on April 1, 2012 at the Army Aviation Association of America symposium in Nashville, Tenn. Weighing 450 grams, the ruggedized, multi-axis Mantis i23 houses an electro-optical and infrared thermal video sensor in addition to a laser illuminator. The single payload replaces two separate sensor payloads on the Raven air vehicle, delivering daytime and nighttime capabilities from a single package.

"The U.S. Army has more than 1,700 Raven systems in its inventory with an ultimate goal of more than 2,300 systems," said Roy Minson, AeroVironment senior vice president and general manager, Unmanned Aircraft Systems. "Since winning the Army's small unmanned aircraft system competition in 2005 we have focused on delivering highly reliable, highly capable Raven systems and on continuously enhancing their capabilities. The new miniature gimbaled payload is the latest example of cost-effective improvements that will benefit soldiers directly through enhanced situational awareness."

The RQ-11B Raven unmanned aircraft system is a 4.2-pound, backpackable, hand-launched sensor platform that provides day and night, real-time video imagery wirelessly to a portable ground control station for "over the hill" and "around the corner" reconnaissance, surveillance and target acquisition in support of tactical units. U.S. armed forces use Raven systems extensively for missions such as base security, route reconnaissance, mission planning and force protection. Each Raven system typically consists of three aircraft, two ground control stations and spares.


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 militaries, government agencies, businesses and consumers. 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.
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