AeroVironment Bags $6.2M Contract From US Marine Corps

• AeroVironment, Inc. (NASDAQ:AVAV) received a firm-fixed-price contract award for Puma 3 AE small unmanned aircraft systems (SUAS) and spares from the U.S. Marine Corps. The contract is valued at ~$6.17 million.
• The company expects the delivery to be completed in July 2022.
• Puma 3 AE unmanned aircraft system delivers immediate tactical reconnaissance, surveillance, and target acquisition in day or night maritime and land-based operations.
• AeroVironment’s small unmanned aircraft systems comprise the majority of all unmanned aircraft in the U.S. Department of Defense (DoD) inventory; deployed by more than 50 allied governments.
• The Puma 3 All Environment (AE) unmanned aircraft system is rapidly deployable via hand-launch and can land in salt water, fresh water, or on land.
• Price Action: AVAV shares are trading lower by 2.56% at $81.21 on the last check Tuesday.