Friday, December 5, 2014

Aerovironment Ups Contract Win By $38.3M

Monrovia-based unmanned aerial vehicle maker Aerovironment reported Thursday that it has received a number of awards and options on its contract with the United States Army, for its Switchblade tactical missile systems, which increase the total contract ceiling for its existing contract by $38.3M, to a total of $102.1M. The company said it received a $4.3 million cost plus fixed fee award and $7.1 million option for the program, increasing the funded part of the contract to $63.8M. Aerovironment's Switchblade is a small, expendable unmanned aerial vehicle used in close support to deliver explosives in a highly targeted way, by crashing its payload into the target.