AeroVironment Gets UAV Contract

Monrovia, California-based AeroVironment, which develops unmanned aircraft and electric energy systems, said Wednesday afternoon that the firm has received a contract United States Special Operations Command (USSOCOM). The firm said that the deal will fund development of up to three of the firm's new Global Observer UAVs, and is worth $57M. The deal is potentially worth up to $108M if additional aircraft are delivered. AeroVironment's Global Observers are unmanned aircraft used by the military; the contract calls for the aircraft to be able to operate for up to 7 days without landing.