AeroVironment (AVAV) Awarded U.S. Special Operations Contract Worth Up To $200 Million
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AeroVironment (NASDAQ: AVAV) announced the U.S. Special Operations Command (USSOCOM) has selected Puma AE as its All Environment Capable Variant (AECV) solution to the Small Unmanned Aircraft System (UAS) requirement. The one-year Indefinite Delivery Indefinite Quantity (IDIQ) contract, with four one-year options, has a maximum value of $200,000,000, and provides for the purchase of aircraft, ground control systems, spares, repairs and training under a combination firm fixed-price, cost-plus-fixed-fee and cost reimbursable arrangement. The initial delivery order is valued at $6 million and is fully funded.
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