AeroVironment Wins $16 Million in Switchblade Orders

Monrovia, Calif.-based AeroVironment (NASDAQ: AVAV  ) has pocketed a near-$16 million contract.

On Wednesday, AeroVironment announced that the U.S. Army Close Combat Weapons Systems Program Executive Office Missiles and Space has placed five orders totaling $15.8 million in combined value for the company's Switchblade unmanned aerial vehicle.

Described as "the first smart loitering weapon," Switchblade is a tube-launched UAV that the company says "can deliver precision effects kilometers away with in-flight retargeting, target verification and pinpoint delivery, all resulting in little or no collateral effects." In layman's terms, Switchblade resembles a small guided missile, featuring a camera through which its remote operator can see and home in on its target, and a small warhead, built by Alliant Techsystems, with which to kill it.

AeroVironment did not disclose how many Switchblades the Army is buying, but in a February 2013 article, the Army's Rapid Equipping Force director was quoted saying, "we need dramatically more" Switchblade systems than had been supplied to the military as of late 2012.


Launching a Switchblade: Source: AeroVironment.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2614133, ~/Articles/ArticleHandler.aspx, 10/20/2014 9:37:10 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement