AeroVironment Wins $20 Million US Air Force Materials Research Contract

MT Newswires Live

May 28

AeroVironment (AVAV) received a $20 million US Air Force Research Laboratory contract to develop advanced ceramic materials for aerospace and defense applications, the company said Thursday.

The 39-month contract involves AeroVironment working with AFRL to develop lightweight, heat-resistant materials and manufacturing methods, including 3D printing, for aerospace applications, the company said.

The research aims to enhance readiness and durability for US Air and Space Forces while reducing lifecycle costs through advanced modeling, sensors and multifunctional material design, the company added.

Shares of AeroVironment were up about 11% in early Thursday trading.

Price: 200.40, Change: +19.12, Percent Change: +10.55

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