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AeroVironment To Build Third Aircraft For JCTD

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AeroVironment (AV) (AVAV) yesterday announced cumulative program funding of more than $120 million with the government exercise of an option to build a third Global Observer aircraft for the Joint Capability Technology Demonstration (JCTD) program. Since the program began, there have been six contract options exercised. AV was awarded the initial $57 million contract for a three-year development program in September 2007. "Global Observer is an entirely new solution designed to deliver affordable persistence for intelligence, surveillance, reconnaissance and communications…

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