AeroVironment secures $135 million Army contract

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2026-03-20 22:25:19

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Investing.com - The U.S. Department of Defense announced on March 12, 2026, that AeroVironment Inc. (NASDAQ: AVAV) has secured two contracts with the U.S. Army, totaling approximately $135 million, for the procurement of reconnaissance systems and related equipment.

The larger contract is valued at $117,306,232 and covers the procurement and delivery of the P550 remote reconnaissance system under a fixed-price agreement. The contract was awarded by the Army Contracting Command at Redstone Arsenal, Alabama, with an expected completion date of July 23, 2026.

The second contract is worth $17,583,318 and requires AeroVironment to provide the Red Dragon system, battery chargers, ground control stations, launchers, key parts kits, training materials, and on-site support representatives. The Army solicited bids online and received one response.

The two contracts will specify work locations and funding based on each individual order. The company, headquartered in Simi Valley, California, operates these two projects under contract activity numbers W58RGZ-26-F-0238 and W58RGZ-26-F-0206.

The expected completion date for the second contract is April 8, 2026. The Army Contracting Command at Redstone Arsenal, Alabama, is the contracting agency responsible for executing these agreements.

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