at Defense Expo – AeroVironment, Inc. (NASDAQ:AVAV), a leader in unmanned aircraft system solutions, and the Lockheed Martin Corporation (NYSE:LMT), one of the world’s largest aerospace companies and a leading systems integrator, today announced an agreement to jointly pursue opportunities in unmanned aircraft system (UAS) development.
Lockheed Martin Corporation and AeroVironment agree to pursue international opportunities for AeroVironment's Global Observer high altitude long endurance unmanned aircraft system. (Photo: Business Wire)
“At Lockheed Martin, we look forward to partnering with AeroVironment to potentially develop integrated solutions for the unmanned systems market,” said Paul Lemmo, Lockheed Martin senior vice president, corporate strategy and business development. “Using our expertise in systems integration and AeroVironment’s knowledge of unmanned aircraft solutions, we will together look for opportunities to develop innovative technologies that create value for new and existing customers.”
“Numerous customers are seeking persistent solutions for wide area applications, such as border surveillance and communications, that are much more affordable than those available previously," said Roy Minson, AeroVironment senior vice president and general manager of its Unmanned Aircraft Systems business segment. "Lockheed Martin’s broad systems integration expertise gives us the opportunity to work together and develop innovative, end-to-end atmospheric satellite systems built around Global Observer that deliver breakthrough capabilities to customers.”
About the Lockheed Martin CorporationLockheed Martin designs, develops, produces, supports and sustains a wide variety of manned and unmanned systems that span Group 1 to Group 5 unmanned aircraft systems along with a wide range of subsystems including: EO, IR, laser and EW payloads; and a family of Ground Control Systems (GCS) such as One System GCS, Common GCS, Mobile GCS and Expeditionary GCS.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts