Defense company wins new unmanned systems award
AEVEX Corp. (NYSE:AVEX) shares gained 11% on Tuesday after the company announced it had been awarded a $50 million contract by the United States Air Force to enhance unmanned mission-support capabilities for ongoing operations.
According to the company, the award includes $27 million in initial funding and will support expanded production of its long-range precision strike platform.
Contract supports next-generation mission capabilities
AEVEX said the platform has been designed to operate on extended-range missions in contested environments where GPS signals may be unavailable or disrupted.
The company added that the unmanned system offers high payload capacity, rapid reconfiguration and seamless integration of mission payloads, allowing it to support a broad range of operational requirements.
Work under the contract will be carried out across AEVEX’s engineering, integration and manufacturing facilities in the United States.