On March 24th, the U.S. Army Tactical Aviation and Ground Munitions (TAGM) project office awarded AeroVironment, Inc. (NASDAQ: AVAV) an additional funding of $64,565,126 to procure Switchblade® 300 loitering missile systems. This new firm-fixed-price contract brings the total amount of funding for Switchblade systems, under the original U.S. Army contract, to $231,331,651. The U.S. Army Contracting Command at Redstone Arsenal will manage the contract, and AeroVironment, Inc. is expected to deliver the systems by July 2024.

AeroVironment’s combat-proven Switchblade 300 loitering missile systems have been deployed by the U.S. Army for more than a decade and are currently providing real-time ISR and precision strike support on battlefields in Ukraine. Ideal for use against beyond-line-of-sight targets, Switchblade systems were approved by the U.S. government for use by Ukraine and additional nations after the start of the Russia-Ukraine war in 2022. This new U.S. Army contract includes foreign military sales of Switchblade 300 for the first time to France and another allied nation, expanding Switchblade’s footprint internationally.

“Switchblade 300 continues to be a critical weapon in the armed forces of Ukraine’s unmanned systems arsenal,” said Brett Hush, AeroVironment’s vice president and product line general manager for Tactical Missile Systems. “This new contract further demonstrates the global demand for production-ready, combat-proven Switchblade 300 missile systems. We’re honored that Switchblade 300 continues to support the U.S. military and our allies.”

With its backpackable design, the Switchblade 300 provides operators with the ability to swiftly move and deploy the system on the ground, delivering exceptional flexibility in the field. Equipped with real-time video, GPS coordinates, and wave-off capabilities, the system enables operators to confidently and precisely target critical objectives.

This contract award follows an August 2022 contract modification for additional funding by the U.S. Army for procurement of Switchblade 300 loitering missile systems.

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