ARLINGTON, Va., — July 20, 2026 — AeroVironment, Inc. (“AV”) (NASDAQ: AVAV), a global leader in intelligent, multi-domain autonomous systems, today announced it has been awarded a $117.3 million contract by the U.S. Army for its P550™ electric vertical take-off and landing (eVTOL) unmanned aerial system in support of the Army’s Long Range Reconnaissance program, advancing the Army’s push to field scalable, adaptable capabilities for modern warfare.

The award was issued under a Basic Ordering Agreement (BOA) through a competitive Call for Solutions (C4S) under the U.S. Army’s Unmanned Aircraft Systems (UAS) Marketplace initiative, a centralized digital platform designed to accelerate the procurement of vetted drone technologies.

Through this award, AV will provide 82 P550 uncrewed aircraft systems in support of the Army’s Battalion Reconnaissance (UAS) effort, a move that represents the initial full-rate procurement of the P550 system and reflects the Army’s commitment to rapidly fielding proven commercial capabilities that enhance long-range reconnaissance, autonomy, and distributed operations.  

The award further reinforces AV’s role in delivering scalable, mission-ready solutions aligned with the Army’s modernization priorities. 

“In today’s battlespace, adaptability is no longer an advantage, it’s a requirement,” said Wahid Nawabi, Chairman, President and Chief Executive Officer at AV. “The P550 gives maneuver forces the ability to rapidly reconfigure, extend their reach, and deliver effects across domains, all while operating in contested environments where speed and autonomy are decisive.” 

An autonomous Group 2 eVTOL UAS, AV’s P550 has become a staple of reliability for America’s armed forces and allies by enabling smarter and safer operations through its modular open systems approach (MOSA), which supports seamless integration of third-party payloads, datalinks, and mission planning software to adapt to evolving mission requirements.  

With a multi-sensor payload capacity of up to 15 pounds, including enhanced lethality options, and up to five hours of all-battery endurance, the P550 delivers sustained, mission-tailored performance across intelligence, surveillance and reconnaissance (ISR), precision strike, electronic warfare, and communications relay missions in air, ground, and maritime operations. The system can be reconfigured in the field in less than five minutes, allowing operators to hot-swap payloads and batteries without tools. 

“What operators consistently tell us is that they need systems that can adapt at the speed of the mission, not hours or days later,” said Trace Stevenson, President of Autonomous Systems at AV. “AV’s P550 delivers that advantage, enabling units to reconfigure in minutes. It reduces the burden on operators while expanding what a single platform can achieve.” 

Purpose-built for dynamic, contested environments, AV’s P550 enhances situational awareness and force protection with integrated targeting and precision strike capabilities. Its AI-driven autonomy enables smarter, safer operations while reducing operator workload in complex mission sets. Designed for maneuver forces, it delivers a multi-role capability that can be reconfigured in minutes to meet evolving mission demands. 

BETHESDA, Md., April 27, 2026 — Mistral Inc.has been awarded a $20,039,666 firm-fixed-price contract by the U.S. Army for the procurement of the Thor System and payloads for the Small Uncrewed Aircraft Systems Product Office. The award was issued by Army Contracting Command, Redstone Arsenal, Alabama, with an estimated completion date of March 17, 2027.

Under the award (W58RGZ-26-G-0026), Mistral will deliver THOR UAS systems and various mission payloads intended to strengthen tactical formations with an organic, rapidly employable small UAS capability aligned to company-level mission needs.

Mistral has teamed with FUSE, developer of the THOR family of military tactical Group 2 drones, and will integrate various mission payloads to provide the U.S. Army with a mature platform designed for rapid assembly, autonomous flight operations, and modular payload integration.

Delivering a Soldier-relevant, multi-mission Group 2 capability
The THOR Group 2 drone is a military tactical, fully autonomous multi-rotor mini-UAS designed for a wide range of operational applications and reconnaissance missions, emphasizing rapid deployment and flexible payload carriage. Backpack-carried and rapidly assembled, THOR is designed to support small tactical teams with a flexible aerial capability spanning reconnaissance, surveillance, target acquisition/identification, communications relay, electronic warfare support, resupply/cargo, and configurable effects options as mission requirements evolve.

Built for fast tactical employment, THOR is designed to reduce operator workload through multi-platform operation, autonomous takeoff/landing, and mission execution, while enabling rapid role changes at the point of need through modular payload integration.

Production-ready maturity and delivery posture
The contract award supports delivery of UAS systems and payloads to the Army’s small UAS enterprise, with work locations and funding to be determined with each order under the award structure. Mistral through Avandra.Ai, Fuse US based subsidiary, will provide local training, field & technical support.

“This award is about getting a proven, company-relevant capability into Soldiers’ hands with speed, and doing it with a system designed for real operational conditions,” said Yoav Banai, Senior Vice President – Business Development at Mistral. “By pairing Mistral’s U.S.-based integration and delivery focus with Fuse’s THOR platform, we’re positioned to provide a rapidly deployable Group 2 UAS that supports multi-mission teams and adapts quickly as the operational picture changes.”

“Elbit Systems C4I & Cyber is proud to support this effort alongside Mistral and FUSE,” said Yoav Poizner, Vice President, Marketing, Elbit Systems C4I & Cyber. “The U.S. Army’s decision to select THOR as its Company-Level multi-rotor system validates the technological and operational advantages offered by our solutions. Together, we look forward to helping deliver a dependable system that can be configured for evolving mission needs and scaled for operational demand.”