AeroVironment Inc. said Monday that it received a $23.9 million order from the Army and Marine Corps to cover upgrades to the company’s Raven Systems unmanned aircraft systems.
The Monrovia drone maker said the contract modification enables analog Raven systems in use by the U.S. Army and U.S. Marine Corps to be upgraded to a more efficient digital data link. The company began deliver new digital Raven systems at the end of October.
The Raven is a 4.2-pound, hand-launched aircraft used to provide real-time video images in “over the hill” and “around the corner” surveillance and target acquisition. Among the benefits of the new digital system are improved signal security and the ability for more drones to be in the air simultaneously.
AeroVironment said full funding for the contract modification was provided by a Department of Defense supplemental funding bill. The total potential value of the order is $66.6 million, of which $42.7 million has not yet been funded.
Shares closed up 67 cents, or 2 percent, to $29.07 on the Nasdaq.
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