United States Army Awards AeroVironment, Four Other Companies Small Unmanned Aircraft Systems Contract Worth Up To $248 Million

  United States Army Awards AeroVironment, Four Other Companies Small Unmanned
  Aircraft Systems Contract Worth Up To $248 Million

  *Indefinite Delivery/Indefinite Quantity contract valued at up to $248
    million supports small UAS requirements through December 2017
  *Contract supports continued procurement and support of small unmanned
    aircraft systems for Army

Business Wire

MONROVIA, Calif. -- January 8, 2013

AeroVironment, Inc. (NASDAQ: AVAV) announced that the United States Army has
selected it and four other companies to compete for future small UAS
requirements under a new Firm Fixed-Price Indefinite Delivery Indefinite
Quantity (IDIQ) contract with a $248 million maximum value. The contract will
enable the continued procurement of AeroVironment’s RQ-11B Raven and RQ-20A
Puma AE systems as well as competing medium- and long-range small unmanned
aircraft systems.

US Army Soldier launching a Raven (Photo: Business Wire)

US Army Soldier launching a Raven (Photo: Business Wire)

“We have successfully competed for every major United States Department of
Defense program of record involving small UAS and have delivered highly
reliable systems with increasing capability to support our warfighters,” said
Roy Minson, AeroVironment senior vice president and general manager of its
Unmanned Aircraft Systems business segment. “This new IDIQ contract provides
for continued procurement of small UAS, reflecting the high value of this
capability. We look forward to supporting the U.S. Army and other customers
with market leading small UAS solutions that anticipate the ever-evolving
needs of warfighters and address the budgetary constraints of governments.”

AeroVironment Small UAS

RQ-11B Raven®, Wasp AE™, RQ-20A Puma™ and Shrike VTOL™ 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 20
international governments.

The Qube™ small UAS is tailored to law enforcement, first response and other
public safety missions. Small enough to fit easily in the trunk of a car, the
Qube system can be unpacked, assembled and ready for flight in less than five
minutes, giving the operator a rapidly deployable eye in the sky at a fraction
of the cost of manned aircraft and large unmanned aircraft.

About AeroVironment

AeroVironment is a technology solutions provider that designs, develops,
produces, supports and operates an advanced portfolio of Unmanned Aircraft
Systems (UAS) and electric transportation solutions. Agencies of the U.S.
Department of Defense and allied military services use the company’s
electric-powered, hand-launched unmanned aircraft systems extensively to
provide situational awareness to tactical operating units through real-time,
airborne reconnaissance, surveillance and communication. Multiple government
agencies have helped to fund the development and demonstration of Global
Observer®, a hybrid-electric, stratospheric UAS designed to provide
affordable, persistent reconnaissance and communication over any location on
the globe. Switchblade™ is a loitering munition designed to provide a rapid,
lethal, pinpoint precision strike capability with minimal collateral damage.
AeroVironment’s electric transportation solutions include a comprehensive
suite of electric vehicle (EV) charging systems, installation and network
services for consumers, automakers, utilities and government agencies, power
cycling and test systems for EV developers and industrial electric vehicle
charging systems for commercial fleets. More information about AeroVironment
is available at 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.

Additional AeroVironment News: http://avinc.com/resources/news/
AeroVironment Media Gallery: http://avinc.com/media_gallery/
Follow us: www.twitter.com/aerovironment
Facebook: http://www.facebook.com/#!/pages/AeroVironment-Inc/91762492182

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20130108006244/en/

Multimedia
Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50524924&lang=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
 
Press spacebar to pause and continue. Press esc to stop.