AV Awarded $117.3 Million U.S. Army Production Contract for P550™

About this update from Aerovironment, Inc.

Initial Order Enhances LRR and Advances Army Drone Dominance Initiative with AV's Autonomous Group 2 eVTOL UAS ARLINGTON, Va., July 20, 2026--(BUSINESS WIRE)--AeroVironment, Inc. ("AV") (NASDAQ: AVAV), a global leader in intelligent, multi-domain autonomous systems, today announced it has been awarded a $117.3 million contract by the U.S. Army for its P550™ electric vertical take-off and landing (eVTOL) unmanned aerial system in support of the Army's Long Range Reconnaissance program, advancing the Army's push to field scalable, adaptable capabilities for modern warfare. The award was issued under a Basic Ordering Agreement (BOA) through a competitive Call for Solutions (C4S) under the U.S. Army's Unmanned Aircraft Systems (UAS) Marketplace initiative, a centralized digital platform designed to accelerate the procurement of vetted drone technologies. Through this award, AV will provide 82 P550 uncrewed aircraft systems in support of the Army's Battalion Reconnaissance (UAS) effort, a move that represents the initial full-rate procurement of the P550 system and reflects the Army's commitment to rapidly fielding proven commercial capabilities that enhance long-range reconnaissance, autonomy, and distributed operations. The award further reinforces AV's role in delivering scalable, mission-ready solutions aligned with the Army's modernization priorities. "In today's battlespace, adaptability is no longer an advantage, it's a requirement," said Wahid Nawabi, Chairman, President and Chief Executive Officer at AV. "The P550 gives maneuver forces the ability to rapidly reconfigure, extend their reach, and deliver effects across domains, all while operating in contested environments where speed and autonomy are decisive." An autonomous Group 2 eVTOL UAS, AV's P550 has become a staple of reliability for America's armed forces and allies by enabling smarter and safer operations through its modular open systems approach (MOSA), which supports seamless integration of third-party payloads, datalinks, and mission planning software to adapt to evolving mission requirements. With a multi-sensor payload capacity of up to 15 pounds, including enhanced lethality options, and up to five hours of all-battery endurance, the P550 delivers sustained, mission-tailored performance across intelligence, surveillance and reconnaissance (ISR), precision strike, electronic warfare, and...

View stock analysis, news, and events for Aerovironment, Inc.