AeroVironment Awarded $26 Million Switchblade 600 Tactical Missile Systems Contract by U.S. Special Operations Command

AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced it was awarded a cost-plus-fixed-fee contract on March 31, 2021 by the United States Special Operations Command (USSOCOM) for $26,120,810 with $7,159,036 funded upon receipt. The contract includes delivery and integration of Switchblade® 600 tactical missile systems into specialized maritime platforms, scheduled to be completed by January 2023.

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Switchblade 600 is an extended-range loitering missile system capable of multi-domain operations. (Photo: AeroVironment, Inc.)

“Our team worked closely with our customers to develop Switchblade 600, a loitering missile system that addresses the increasingly complex needs and mission requirements of counterinsurgency operations and those against peer and near-peer adversaries,” said Brett Hush, AeroVironment vice president and product line general manager for tactical missile systems. “Integrating Switchblade 600 into combat platforms, such as the USSOCOM’s specialized maritime vessels, enhances force overmatch, minimizes warfighter exposure to enemy direct and indirect fires and accelerates the maturation of this innovative solution.”

The AeroVironment Switchblade 600 is an all-in-one, man portable solution equipped with a high-performance EO/IR gimbaled sensor suite, precision flight control and more than 40 minutes of flight time to deliver unprecedented tactical reconnaissance, surveillance and target acquisition (RSTA). Its anti-armor warhead enables engagement and prosecution of hardened static and moving light armored vehicles from multiple angles – without external ISR or fires assets – for precise, localized effects and minimal collateral damage.

ABOUT AEROVIRONMENT TACTICAL MISSILE SYSTEMS

AeroVironment’s tactical missile systems provide users with the ability to identify threats and deliver a precision lethal payload with minimal collateral damage. Switchblade® 300 and Switchblade® 600 loitering missile systems enable the warfighter to easily launch, fly, track and engage beyond line-of-sight targets and light armored vehicles across land, maritime and air-launched scenarios. The Blackwing™ loitering reconnaissance system is a variant of Switchblade designed to provide rapid-response intelligence, surveillance and reconnaissance capabilities and can be deployed from a submarine using an underwater-to-air delivery canister, shipboard or mobile ground vehicle via tube-launch or Multipack Launcher (MPL). AeroVironment’s tactical missile systems deliver the actionable intelligence and precision firepower needed to achieve mission success across multiple domains. For more information, visit www.avinc.com/tms.

ABOUT AEROVIRONMENT, INC.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Celebrating 50 years of innovation, 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.

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