AV’s Switchblade 300 Selected for U.S. Marine Corps’ Organic Precision Fires-Light Program

AeroVironment (AV) was selected by the U.S. Marine Corps for the first phase of the Organic Precision Fires-Light (OPF-L) program of record. AV’s Switchblade 300 Block 20 loitering munition system (LMS) will provide the Marine Corps with organic, anti-armor/anti-personnel, precision fires capability at the tactical level. AV was awarded an initial order of $8.9M on a contract with a maximum potential value of $249M.

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AV’s Switchblade 300 Block 20 loitering munition will provide the Marine Corps with organic, precision-strike capability at the tactical level. (Photo: AeroVironment)

AV’s Switchblade 300 Block 20 supports the OPF-L program’s request for an individually operated, man-portable loitering munition with a lightweight, precision-guided capability against beyond- line-of-sight adversaries. Switchblade 300 will ensure that Marines are properly equipped and sustained with a lethal, reliable, organic capability for rapid target engagement while minimizing collateral damage and exposure to threat weapon systems.

“AV offers a battle-proven and production-ready system to support OPF-L to meet the Marine Corps’ requirements,” said AV’s Senior Vice President of LMS, Brett Hush. “Our mature and trusted manufacturing capability combined with world-class training and support will ensure Marine Infantry is adequately prepared for the fight.”

AV’s Switchblade 300 has been deployed in support of urgent operational needs to combat theaters since 2012. Switchblade 300 Block 20 is the next generation of the system that capitalizes on over a decade of user assessments, combat deployments, and lessons learned from the conflict in Ukraine, including operating in contested environments.

The Switchblade Block 20 system significantly expands on the currently fielded Switchblade 300 capabilities, including armor penetrating capability through an Explosively Formed Penetrator (EFP) warhead, increased target attack angle, and significantly greater battery life, flight endurance, and radio link range.

“With over 6,000 Switchblade loitering missiles tested, produced, and fielded, AV is in a unique position to offer revolutionary organic precision fire capabilities to the USMC, leveraging the proven reliability, producibility and supportability of current Switchblade programs,” continued Hush.

ABOUT AEROVIRONMENT

AeroVironment (NASDAQ: AVAV) is a global leader in intelligent multi-domain robotic systems, uncrewed aircraft and ground systems, sensors, software analytics and connectivity. Headquartered in Arlington, Virginia, AeroVironment delivers actionable intelligence so our customers can proceed with certainty. For more information, visit www.avinc.com.

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Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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The Aerovironment Stock at the time of publication of the news with a fall of -0,18 % to 146,4USD on Nasdaq stock exchange (18. April 2024, 21:55 Uhr).