AeroVironment Awarded $2.3 Million DARPA Concept Definition Contract for TERN Medium Altitude Long Endurance Unmanned Aircraft System Program

November 04, 2013

AeroVironment Awarded $2.3 Million DARPA Concept Definition Contract for TERN Medium Altitude Long Endurance Unmanned Aircraft System Program

  • Three-phase development program aims to produce a low-cost, large-scale prototype vehicle

MONROVIA, Calif., Nov. 4, 2013 - AeroVironment, Inc. (NASDAQ:AVAV) announced that it has been selected by the Defense Advanced Research Projects Agency (DARPA) to provide its market-leading expertise in unmanned aircraft systems (UAS) toward the development of a new category of this technology. AeroVironment will work as the prime contractor with DARPA on the Tactically Exploited Reconnaissance Node (TERN) Program to develop a medium-altitude, long-endurance (MALE) UAS designed to operate from small ships to provide persistent intelligence, surveillance, and reconnaissance (ISR) capabilities. Sierra Nevada Corporation will subcontract to AeroVironment on the project, which is valued at $2.3 million

“We are excited to have been selected by DARPA and about what this signifies for the future of the UAS industry,” said Roy Minson, AeroVironment senior vice president and general manager of the company’s UAS business segment. “TERN represents an entirely new category of UAS that has the potential to meet the evolving needs of customers for ISR capabilities. We look forward to applying our extensive experience in creating unique, high-quality and battle-proven UAS solutions to develop a concept with the TERN team that addresses DARPA’s requirements.”

“AeroVironment’s history of innovation has long been a strategic differentiator, and we believe this award from DARPA is a testament to our market-leading position and capabilities,” said Tim Conver, AeroVironment’s chief executive officer and chairman. “This is a time of significant opportunity and progress at AeroVironment as we execute on our fiscal 2014 plan. We look forward to building on our momentum, and important collaborations like this, as we continue to address new and unique customer challenges.”

The intent of the TERN program is to produce a low-cost, large-scale TERN prototype vehicle over the course of three development phases that would demonstrate automatic launch and recovery and key technologies required by a TERN objective system. The mission performance goals for the operational TERN system are comparable to emerging land-based MALE UAV capabilities.

The ultimate goal for a TERN objective system air vehicle is to enable persistent ISR capabilities with payloads of 600 pounds while operating up to 900 nautical miles from a host vessel. The TERN objective system is intended to operate from multiple ship types, including Littoral Combat Ship 2 (LCS-2) class ships, and in elevated sea states.

The phase 1 concept definition contract was awarded on August 26, 2013. As part of the agreement, Sierra Nevada Corporation will subcontract to AeroVironment for ship integration.


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, tactical missile systems and electric vehicle charging and test 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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