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Loitering Munitions Business Helps Propel AeroVironment To Record Third Quarter

Cal Biesecker By
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Loitering Munitions Business Helps Propel AeroVironment To Record Third Quarter
Switchblade 600. Photo: AeroVironment.

AeroVironment [AVAV] on Monday reported record third quarter sales driven by its loitering munitions and unmanned systems products and the company is expecting more of the same in its next fiscal year. Sales of loitering munitions, namely the Switchblade 600 and 300 systems, more than doubled to a record $57.7 million and prospects for further Defense Department and international growth continue to grow, company officials said on an earnings call after the close of markets on Monday. Revenue in the…

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