Contract AwardAeroVironment recently was awarded a new $990 million ceiling value, five-year, US Army IDIQ contract for the SwitchBlade Loitering Munition Systems.
Demand And Manufacturing CapacitySwitchblade demand has risen both domestically and abroad, with manufacturing capacity growing to support over $500 million in annual Switchblade product revenue.
Revenue GrowthRevenues increased 24% year over year to $189.5 million, led by loitering munitions systems revenues, which increased approximately 68% year over year on accelerating Switchblade 600 demand.