09:59 AM EDT, 10/14/2024 (MT Newswires) -- AeroVironment ( AVAV ) said Monday that the US Army has awarded it a $54.9 million delivery order for the company's Switchblade loitering munition systems aerial weapon.

AeroVironment ( AVAV ) said the award, which includes an additional contract ceiling of $743 million, is intended to help support the US Army and some of its allies, including Lithuania, Romania, and Sweden.

The defense contractor said the work will be performed in Simi Valley, California, and expects it to be completed by June 30, 2026.

Shares of AeroVironment ( AVAV ) were up 1.2% in recent trading.

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