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United States Air Force Awards AeroVironment $13 Million Indefinite-Delivery/Indefinite-Quantity Contract to Support Latin American and Caribbean Nations with RQ-11B Raven Drones

October 4, 2018

MONROVIA, Calif.--(BUSINESS WIRE)--Oct 4, 2018--AeroVironment, Inc. (NASDAQ: AVAV) today announced the United States Air Force awarded the company a $13 million indefinite delivery/indefinite quantity (ID/IQ) contract on Sept. 30, 2018 for RQ-11B Raven® small unmanned aircraft systems (UAS) to support Latin American and Caribbean nations. United States Government fiscal 2018 operations and maintenance funds of $2,800,000 were committed at the time of the award. The work is expected to be completed by Sept. 28, 2023.

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AeroVironment’s RQ-11B Raven is the most widely used unmanned aircraft system in the world today (Photo: Business Wire)

The Raven hand-launched small UAS, the most prolific military drone in the world, will be deployed in the U.S. Southern Command Area of Responsibility, which includes Central America, South America and the Caribbean.

“Raven revolutionized the battlefield with instant eyes in the sky and force protection for small tactical units 15 years ago and its enhanced capabilities continue to protect U.S. and allied armed forces throughout the world,” said Kirk Flittie, vice president and general manager of AeroVironment’s Unmanned Aircraft Systems business. “From the snow-capped peaks of Afghanistan to the dense jungles and rugged mountains of Latin America, Raven and AeroVironment’s family of small surveillance drones, including Puma AE and Wasp AE, are giving U.S. and allied troops unmatched advantages to advance safely through dangerous terrain.”

About AeroVironment Small UAS

RQ-11B Raven®RQ-12 Wasp®  and  RQ-20A/B Puma™  comprise AeroVironment’s Family of Small Unmanned Aircraft Systems. Operating with a common ground control system (GCS), this Family of Systems provides increased capability to the warfighter that can give ground commanders the option of selecting the appropriate aircraft based on the type of mission to be performed. This increased capability has the potential to provide significant force protection and force multiplication benefits to small tactical units and security personnel. AeroVironment provides logistics services worldwide to ensure a consistently high level of operational readiness and provides mission services for customers requiring only the information its small UAS produce. AeroVironment has delivered thousands of new and replacement small unmanned air vehicles to customers within the United States and to more than 45 allied governments.

About AeroVironment, Inc.

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.

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.

For additional media and information, please follow AeroVironment at:

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View source version on businesswire.com:https://www.businesswire.com/news/home/20181004005255/en/

CONTACT: AeroVironment, Inc.

Steven Gitlin, +1 626-357-9983

pr@avinc.com

or

For AeroVironment, Inc.

Mark Boyer, +1 310-229-5956

mark@boyersyndicate.com

KEYWORD: UNITED STATES NORTH AMERICA CENTRAL AMERICA SOUTH AMERICA CARIBBEAN CALIFORNIA

INDUSTRY KEYWORD: MANUFACTURING AEROSPACE DEFENSE CONTRACTS OTHER DEFENSE

SOURCE: AeroVironment, Inc.

Copyright Business Wire 2018.

PUB: 10/04/2018 09:10 AM/DISC: 10/04/2018 09:11 AM

http://www.businesswire.com/news/home/20181004005255/en

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