Lockheed Martin Corporation and AeroVironment, Inc. to Pursue Joint Opportunities in Unmanned Aircraft Systems Markets

  Lockheed Martin Corporation and AeroVironment, Inc. to Pursue Joint
  Opportunities in Unmanned Aircraft Systems Markets

  *Companies sign memorandum of understanding toexploreopportunities for
    unmanned aircraft systems in international markets
  *Primary focus relates to integrating Lockheed Martin mission systems,
    ground systems and technology with AeroVironment's Global Observer®
    unmanned aircraft system

Defexpo India 2014

Business Wire

NEW DELHI -- February 6, 2014

at Defense Expo  – AeroVironment, Inc. (NASDAQ:AVAV), a leader in unmanned
aircraft system solutions, and the Lockheed Martin Corporation (NYSE:LMT), one
of the world’s largest aerospace companies and a leading systems integrator,
today announced an agreement to jointly pursue opportunities in unmanned
aircraft system (UAS) development.

Lockheed Martin Corporation and AeroVironment agree to pursue international
opportunities for AeroVi ...

Lockheed Martin Corporation and AeroVironment agree to pursue international
opportunities for AeroVironment's Global Observer high altitude long endurance
unmanned aircraft system. (Photo: Business Wire)

“At Lockheed Martin, we look forward to partnering with AeroVironment to
potentially develop integrated solutions for the unmanned systems market,”
said Paul Lemmo, Lockheed Martin senior vice president, corporate strategy and
business development. “Using our expertise in systems integration and
AeroVironment’s knowledge of unmanned aircraft solutions, we will together
look for opportunities to develop innovative technologies that create value
for new and existing customers.”

“Numerous customers are seeking persistent solutions for wide area
applications, such as border surveillance and communications, that are
muchmore affordable than those available previously," said Roy Minson,
AeroVironment senior vice president and general manager of its Unmanned
Aircraft Systems business segment. "Lockheed Martin’s broad systems
integration expertise gives us the opportunity to work together and develop
innovative, end-to-end atmospheric satellite systems built around Global
Observer that deliver breakthrough capabilities to customers.”

About the Lockheed Martin Corporation

Lockheed Martin designs, develops, produces, supports and sustains a wide
variety of manned and unmanned systems that span Group 1 to Group 5 unmanned
aircraft systems along with a wide range of subsystems including: EO, IR,
laser and EW payloads; and a family of Ground Control Systems (GCS) such as
One System GCS, Common GCS, Mobile GCS and Expeditionary GCS.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and
aerospace company that employs approximately 115,000 people worldwide and is
principally engaged in the research, design, development, manufacture,
integration and sustainment of advanced technology systems, products and
services. The Corporation’s net sales for 2013 were $45.4 billion.

About AeroVironment, Inc.

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 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.
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; our reliance
on sales to the U.S. government; changes in the timing and/or amount of
government spending; changes in the supply and/or demand and/or prices for our
products and services; 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, including our most recent Annual Report on
Form 10-K and Quarterly Reports on 10-Q. 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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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
or
For Lockheed Martin
Anupama Kalra, +91-9891245718
anupama@inter-corp.org
 
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