AeroVironment Receives $16.5 Million of Funding from U.S. Army for RQ-11B Raven Small Unmanned Aircraft Systems with Miniature Gimbaled Payload
September 05, 2012
- Total projected value of contract action is $65.9 million; $32.3 million in funding for orders received to date
- Payload integrates an electro-optical and infrared video sensor for improved tracking capabilities
- Modular payload compatible with existing RavenⓇ systems
MONROVIA, Calif., Sept. 5, 2012 -- AeroVironment, Inc. (NASDAQ:AVAV) today announced it received $16,472,298 in additional funding to perform on Aug. 10, 2012 from the United States Army under a contract action with a total projected value of $65,889,191. The company announced the initial $15.8 million funding of that contract action on June 1, 2012.
The overall contract action 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 June 30, 2013.
Weighing 450 grams, the ruggedized, multi-axis Mantis i23 payload for the Raven system 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 Army is quickly and easily integrating the new miniature gimbaled payload into the Raven systems because of its reliability in providing superior imagery and tracking capability in harsh environments," said Roy Minson, AeroVironment senior vice president and general manager, Unmanned Aircraft Systems. "We anticipate our new payload, an example of our focus on continuous and cost-effective capability enhancement for the warfighter, will become a standard component of currently fielded and future Raven systems."
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 defense, government and commercial customers. For more information visit www.avinc.com.
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