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AeroVironment Lands $10.7 Million Drone Contract

AeroVironment Inc. has landed a $10.7 million contract for its Puma 3 drones from the U.S. Navy and Marine Corps. The Simi Valley aerospace manufacturer plans to deliver the drones later this month. The hand-launched Puma 3 AE has a wingspan of 9.2 feet, weighs 15 pounds and can operate for up to 2.5 hours at a range of up to 12.4 miles. It is used for tactical reconnaissance by military forces. “Puma 3 AE is a combat-proven enabler of U.S. Navy and Marine Corps tactical operations, providing persistent situational awareness, expeditionary reconnaissance, surveillance and target acquisition, force protection and overwatch,” Rick Pedigo, AeroVironment vice president of business development, said in a statement. “Its versatility, ruggedness and reliability in a wide range of operating environments – over land and sea – consistently provide the actionable intelligence warfighters need to proceed with certainty.” Shares of AeroVironment (AVAV) closed Tuesday down $2.42, or 4.2 percent, at $54.78 on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
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