Benzinga | Oct 6, 2021 04:12PM EDT

U.S. Army Awards AeroVironment $11.7M Third and Final Contract Option for Raven Radio Frequency Modifications Under Existing FCS Contract

* Final contract option exercised under the sole source Flight Control Systems (FCS) domain of the Army's multi-year small unmanned aircraft systems contract

* Total final value of contract is $54,632,776

* U.S. Army possesses largest fleet of Raven tactical unmanned aircraft systems in the world



AeroVironment, Inc. (NASDAQ:AVAV), a global leader in intelligent, multi-domain robotic systems, today announced the United States Army exercised the third and final option under the Flight Control Systems (FCS) domain of the Army's multi-year small unmanned aircraft systems (UAS) contract on Sept. 9, 2021. The value of the contract option is $11,731,740 and includes flight control system kits, ground control stations and tail booms for the Army's existing fleet of Raven(r) tactical UAS. Delivery is scheduled to be completed by September 2022.

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The Raven system is designed for low-altitude intelligence, surveillance, and reconnaissance missions that depend on rapid deployment and pinpoint maneuverability. (Photo: AeroVironment, Inc.)

The contract option was exercised under the Army's FCS domain awarded to AeroVironment in June 2019 and announced in November 2019 -- the first of six domains comprising the Army's existing five-year Indefinite Delivery, Indefinite Quantity (IDIQ) SUAS contract -- bringing the total final value of contract to $54,632,776.