AVAV AeroVironment Inc.

AV Enters Teaming Agreement with Parry Labs to Develop Modular Next-Generation Long Range Reconnaissance UAS

AeroVironment (AV) has entered into an exclusive teaming agreement with Parry Labs, a leader in Modular Open Systems Approach (MOSA), to architect, develop, deliver and integrate digital engineering, software, and mission system hardware into AV’s upcoming P550 uncrewed aircraft system (UAS), purpose built for the U.S. Army’s Long Range Reconnaissance (LRR) program.

Parry Labs’ team of MOSA leaders and digital systems experts have created a foundational platform using an open and intelligent software stack, SWaP-C optimized hardware, and a digital engineering environment for collaborative build, test and integration. Designed with MOSA principals from inception, AV’s P550 UAS is perfectly aligned to adopt solutions from trusted partners such as Parry Labs to maximize warfighter capability and mission flexibility.

“Our customers rely on AV’s market-leading UAS to perform critical missions in challenging and hostile environments, while offering a verified and validated MOSA architecture from both software and hardware standpoints in order to eliminate vendor lock,” said AV’s Vice President of Engineering, Cris Sapera. “By teaming with Parry Labs, our valued P550 customers can expect a truly open system architecture that will have predefined Major System Components with validated open interfaces for quick, seamless replacement as needed.”

“We are excited to partner with AV to bring the benefits of MOSA to the enterprise,” said Parry Labs Chief Technology Officer, Dave Walsh. “Using an open systems approach on P550 provides the U.S. Army’s Uncrewed Aircraft Systems and Aviation offices reusable and portable infrastructure and capabilities, giving them the opportunity for fast and secure upgrades across programs and platforms.”

AV’s MOSA-enabled P550 UAS is purpose built for long range reconnaissance missions and features advanced AI and autonomy, maximum payload versatility, and rapid employment capabilities.

ABOUT AEROVIRONMENT

AeroVironment (NASDAQ: AVAV) is a global leader in intelligent multi-domain robotic systems, uncrewed aircraft and ground systems, sensors, software analytics and connectivity. Headquartered in Arlington, Virginia, AeroVironment delivers actionable intelligence so our customers can proceed with certainty. For more information, visit .

ABOUT PARRY LABS, LLC

Parry Labs redefines the edge for the modern battlespace with digital systems integration that delivers rapid capability deployment and a decisive combat advantage. The company combines open software architecture and mission-proven hardware to create a common framework that’s integrated, agile and designed to deliver the most mission-critical technology at mission relevant speed across all services and domains. For more information, visit and follow us on .

SAFE HARBOR STATEMENT

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

EN
15/04/2024

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on AeroVironment Inc.

 PRESS RELEASE

AV Unveils New AI Capability and Autonomy Kit for Unmanned Systems

ARLINGTON, Va.--(BUSINESS WIRE)-- AeroVironment (AV) has introduced its Autonomy Retrofit Kit (ARK) and AVACORE software demonstrating the company’s commitment to advancing autonomy and machine learning capabilities to increase effectiveness of autonomous systems and reduce operator burdens. ARK and AVACORE bring AV’s accelerated autonomy to fielded assets such as and , in addition to future autonomous systems. This press release features multimedia. View the full release here: AV's ARK and AVACORE bring accelerated autonomy to unmanned aircraft systems such as AV's Puma 3 AE and Puma LE (Ph...

 PRESS RELEASE

AV’s Switchblade 300 Selected for U.S. Marine Corps’ Organic Precision...

ARLINGTON, Va.--(BUSINESS WIRE)-- AeroVironment (AV) was selected by the U.S. Marine Corps for the first phase of the Organic Precision Fires-Light (OPF-L) program of record. AV’s Switchblade 300 Block 20 loitering munition system (LMS) will provide the Marine Corps with organic, anti-armor/anti-personnel, precision fires capability at the tactical level. AV was awarded an initial order of $8.9M on a contract with a maximum potential value of $249M. This press release features multimedia. View the full release here: AV’s Switchblade 300 Block 20 loitering munition will provide the Marine Corp...

 PRESS RELEASE

AV Enters Teaming Agreement with Parry Labs to Develop Modular Next-Ge...

ARLINGTON, Va.--(BUSINESS WIRE)-- AeroVironment (AV) has entered into an exclusive teaming agreement with Parry Labs, a leader in Modular Open Systems Approach (MOSA), to architect, develop, deliver and integrate digital engineering, software, and mission system hardware into AV’s upcoming P550 uncrewed aircraft system (UAS), purpose built for the U.S. Army’s Long Range Reconnaissance (LRR) program. Parry Labs’ team of MOSA leaders and digital systems experts have created a foundational platform using an open and intelligent software stack, SWaP-C optimized hardware, and a digital engineerin...

 PRESS RELEASE

AeroVironment Announces Fiscal 2024 Third Quarter Results

ARLINGTON, Va.--(BUSINESS WIRE)-- (“AeroVironment” or the “Company”) reported today financial results for the fiscal third quarter ended January 27, 2024. Third Quarter Highlights: Record third quarter revenue of $186.6 million, up 39% year-over-year Third quarter net income of $13.9 million and adjusted EBITDA of $28.8 million, increases of $14.6 million and $5.1 million, year-over-year, respectively Funded backlog of $462.8 million as of January 27, 2024 “Once again, AeroVironment has delivered outstanding results, including a record for third quarter revenue that’s nearly 40%...

 PRESS RELEASE

AeroVironment, Inc. Schedules Third Quarter Fiscal Year 2024 Earnings ...

ARLINGTON, Va.--(BUSINESS WIRE)-- (NASDAQ: AVAV) will issue financial results for the company's third quarter ended January 27 after the market closes on Monday, March 4. Management will host a conference call and live audio webcast to discuss the results at 4:30 p.m. Eastern Time. Hosting the call to review results for the third quarter will be Wahid Nawabi, AeroVironment’s chairman, president and chief executive officer; Kevin P. McDonnell, senior vice president and chief financial officer; and Jonah Teeter-Balin, senior director of corporate development and investor relations. Investor...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch