AeroVironment, Inc. (“AV”) (NASDAQ: AVAV) today announced a multiyear indefinite-delivery, indefinite-quantity (IDIQ) contract with a ceiling of $940 million with a U.S. customer, including an approximately $315 million initial award for product deliveries and support.
The award is expected to support continued delivery of advanced capabilities through AV’s AxS segment, further advancing established product lines to meet complex customer requirements.
“This award reflects the trust our customers place in AV to move advanced capabilities beyond development,” said Trace Stevenson, president of AxS at AV. “We are not preparing to manufacture at scale. We are doing it. We are delivering mission-ready capabilities against some of our customers’ most demanding requirements.”
This press release has been reviewed and cleared for public release by the appropriate U.S. Government Security and Policy Review authority. No specific agency or program attribution is authorized due to operational security (OPSEC) guidelines.