04:58 PM EDT, 04/18/2024 (MT Newswires) -- AeroVironment ( AVAV ) said late Thursday it was picked by the US Marine Corps for the first phase of the Organic Precision Fires-Light program.

The company said it will provide its Switchblade 300 Block 20 loitering munition system to the Marine Corps, adding that it was awarded an $8.9 million initial order on a contract that has a maximum potential value of $249 million.