Press Releases

Company Remains Well Positioned for Growth Despite FTUAS Loss

ARLINGTON, Va., May 25, 2023 – AeroVironment, Inc. (NASDAQ: AVAV) today announced that the company’s JUMP 20 Medium UAS was not selected by the U.S. Army to proceed further within the Future Tactical Unmanned Aircraft System (FTUAS) Program Increment 2, the next development phase of the FTUAS program. Despite this news, the company had a strong close to its fiscal year 2023, ended April 30, 2023, achieving all key financial metrics. This outcome does not have a material impact on the company’s near-term outlook and AeroVironment remains poised for at least 15% top-line and robust bottom-line growth in fiscal 2024.

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New vertical take-off and landing kit expands operational capabilities and streamlines constrained area operations

ARLINGTON, Va., May 9, 2023 – AeroVironment, Inc. (NASDAQ: AVAV) today introduced the Puma™ VTOL (vertical take-off and landing) kit, designed for plug-and-play integration into Puma 2 AE and Puma 3 AE small unmanned aircraft systems (SUAS). The optional Puma VTOL kit expands the operational capabilities of the combat-proven Puma system in complex terrain, as neither runway nor large open space are required for launch and recovery of the VTOL-equipped Puma, allowing operators to launch anywhere, anytime.

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The success of Ingenuity Mars helicopter, co-designed and co-developed by AeroVironment and NASA/JPL, lays the foundation for the development of the Sample Recovery Helicopters

ARLINGTON, Va., May 2, 2023 – AeroVironment, Inc. (NASDAQ: AVAV) has been awarded a $10 million contract by NASA’s Jet Propulsion Laboratory (JPL) to co-design and co-develop conceptual designs and engineering development units of Mars Sample Recovery Helicopter flight systems. Future efforts could include detailed design, build, and test of qualification and flight hardware. The helicopters build upon the Ingenuity Mars Helicopter design heritage and feature upgraded robotics to supplement aerial mobility.

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Contract includes first-time Switchblade system foreign military sales to two allied nations

ARLINGTON, Va., April 26, 2023 – AeroVironment, Inc. (NASDAQ: AVAV) received additional funding of $64,565,126 on March 24 from the U.S. Army Tactical Aviation and Ground Munitions (TAGM) project office for the procurement of Switchblade® 300 loitering missile systems. This most recent firm-fixed-price contract increases the total funded amount of Switchblade systems under the original U.S. Army contract to $231,331,651. The contract will be managed by the U.S. Army Contracting Command, Redstone Arsenal, and the systems are scheduled to be delivered by July 2024.

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Building on AeroVironment’s tactical missile legacy, the Switchblade 300 Block 20 offers enhanced operational features and performance

ARLINGTON, Va., March 28, 2023 – AeroVironment (NASDAQ: AVAV) today unveiled the newest version of its Switchblade® 300 rapidly deployable loitering missile system. The Switchblade 300 Block 20 builds on Block 10C’s battle-proven performance with new operational features and significant performance and capability improvements.

Switchblade 300 Block 20 is portable, lightweight, and easy to operate, requiring only a single operator. The new tablet-based Fire Control System allows operators to easily train, plan, and execute missions. Operation of the system is further simplified by offering an integrated control directly onto the launcher tube.

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• AeroVironment is the only company to secure an award for all FTUAS program increments, including FTUAS Increments 0,1 and now 2
• Increment 2 is the final phase of the U.S. Army’s FTUAS program competition to select a replacement for the RQ-7B Shadow UAS 

ARLINGTON, Va., March 1, 2023 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced it was selected by the United States Army on Feb. 28, 2023, to move forward in the Future Tactical Unmanned Aircraft System (FTUAS) program.

AeroVironment’s JUMP® 20 will compete with several other vendors in the FTUAS Increment 2 multi-phased effort which will allow the Army to select the best system for its needs. Ultimately, FTUAS Increment 2 aircraft will be fielded to Brigade Combat Teams (BCTs) throughout the Army, replacing the long-serving RQ-7B Shadow UAS.

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• Combat-proven Switchblade with patented wave-off and recommit capability provides operators with increased lethality, reach and precision strike capabilities with minimal collateral effects

ARLINGTON, Va., Sept. 22, 2022 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced it received a $20,602,464 firm-fixed-price contract award on Aug. 18, 2022 from the U.S. Army Tactical Aviation and Ground Munitions (TAGM) project office for the procurement of Switchblade® 300 tactical missile systems (TMS). The contract will be managed by the U.S. Army Contracting Command, Redstone Arsenal and is scheduled to be delivered by July 2023.

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• Portable, rugged Puma 3 All Environment (AE) unmanned aircraft system provides immediate tactical reconnaissance capabilities for land and maritime operations
• Foreign Military Sales program promotes interoperability among U.S. and allied forces for joint operations
• Customers are among the more than 50 allied governments employing AeroVironment’s unmanned aircraft systems

ARLINGTON, Va., Sept. 20, 2022 – AeroVironment, Inc. (NASDAQ: AVAV) a global leader in intelligent, multi-domain robotic systems, today announced it received two firm-fixed-price U.S. Department of Defense Foreign Military Sales (FMS) contract awards totaling $20,868,105 to provide Puma™ 3 AE small unmanned aircraft systems (SUAS), initial spares packages, training and Contractor Logistics Support (CLS) to two allied nations.

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• System determines precise location of the aircraft during flight without relying on GPS
• Will enable increasingly advanced navigational capabilities, features and functionality through future software and hardware updates
• Available as an add-on option for new Puma 2 AE and Puma 3 AE system orders and as a retrofit kit for fielded systems

ARLINGTON, Va., Sept. 15, 2022 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today introduced Puma™ VNS, a visual-based navigation system for Puma 2 AE and Puma 3 AE small unmanned aircraft systems (SUAS) that will enable GPS-denied navigation across increasingly GPS-contested environments.

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• Next-generation VAPOR 55 delivers more simplified, modular design with performance improvements that optimize user experience
•  Redesigned for increased levels of operational efficiency with 25 percent increased endurance and 20 percent increased payload capacity
•  New payload interface and tool-free quick rail mount enables quick and easy field integration of both current and future payloads for increased mission flexibility

ARLINGTON, Va., Sept. 13, 2022 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced the launch of the next-generation VAPOR® Helicopter unmanned aircraft system (UAS), VAPOR 55 MX. Delivering new levels of operational performance with a completely redesigned modular autonomy framework, VAPOR 55 MX enables increased endurance and expanded payload capacity to meet current and emerging needs of defense, commercial and industrial customers.

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