Investing.com - AeroVironment Inc. (NASDAQ:AVAV) was awarded a $117.3 million contract by the U.S. Department of War to supply unmanned aircraft systems to the Army, the Pentagon announced Wednesday.
The firm-fixed-price contract covers procurement and delivery of 82 AeroVironment P550 unmanned aircraft systems. The systems will provide reconnaissance, surveillance, and target acquisition capability for battalion commanders and their organizations.
The Army solicited bids online and received 10 proposals. Work will be performed at locations to be determined, with an estimated completion date of July 23, 2026.
Fiscal year and fund type will be determined with each order. Army Contracting Command at Redstone Arsenal, Alabama, is the contracting activity.
The contract numbers are W58RGZ-26-G-0005 and W58RGZ-26-F-0334. AeroVironment is based in Simi Valley, California.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
ProPicks AI evaluates AVAV alongside thousands of other companies every month using 100+ financial metrics. Using powerful AI to generate exciting stock ideas, it looks beyond popularity to assess fundamentals, momentum, and valuation. The AI has no bias—it simply identifies which stocks offer the best risk-reward based on current data with notable past winners that include Super Micro Computer (+185%) and AppLovin (+157%). Want to know if AVAV is currently featured in any ProPicks AI strategies, or if there are better opportunities in the same space?