AeroVironment Lands $990M Army Contract for Stand-off Capability

AeroVironment (Nasdaq: AVAV) has secured a U.S. Army contract worth $990 million to equip dismounted infantry formations with an organic, stand-off capability. The Department of Defense said Tuesday the capability is for destroying tanks, light armored vehicles, hardened targets, defilade and personnel targets. The cost-plus-fixed-fee and firm-fixed-price contract has an estimated completion date of Aug.

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