This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Raven Gimbal Launch (Photo: Business Wire)

AeroVironment, Inc. (NASDAQ:AVAV) today announced it received $16,472,298 in additional funding to perform on Aug. 10, 2012 from the United States Army under a contract action with a total projected value of $65,889,191. The company announced the initial $15.8 million funding of that contract action on June 1, 2012.
Raven Gimbal Launch (Photo: Business Wire)

Raven Gimbal Launch (Photo: Business Wire)

The overall contract action includes RQ-11B Raven systems, new miniature gimbaled payloads and initial spares packages and is funded from the Army’s fiscal 2012 procurement budget. Delivery of systems, spares and payloads is scheduled for completion by June 30, 2013.

Weighing 450 grams, the ruggedized, multi-axis Mantis i23 payload for the Raven system houses an electro-optical and infrared thermal video sensor in addition to a laser illuminator. The single payload replaces two separate sensor payloads on the Raven air vehicle, delivering daytime and nighttime capabilities from a single package.

“The Army is quickly and easily integrating the new miniature gimbaled payload into the Raven systems because of its reliability in providing superior imagery and tracking capability in harsh environments,” said Roy Minson, AeroVironment senior vice president and general manager, Unmanned Aircraft Systems. “We anticipate our new payload, an example of our focus on continuous and cost-effective capability enhancement for the warfighter, will become a standard component of currently fielded and future Raven systems.”

The RQ-11B Raven unmanned aircraft system is a 4.2-pound, backpackable, hand-launched sensor platform that provides day and night, real-time video imagery wirelessly to a portable ground control station for "over the hill" and "around the corner" reconnaissance, surveillance and target acquisition in support of tactical units. U.S. armed forces use Raven systems extensively for missions such as base security, route reconnaissance, mission planning and force protection. Each Raven system typically consists of three aircraft, two ground control stations and spares.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs