$AVAV (+3,24%) I will remain invested here as well.
US Army order boosts AeroVironment shares
Shares of AeroVironment Inc (NASDAQ:AVAV) rose 3% on Monday. The reason is the announcement of a contract from the U.S. Army Rapid Capabilities and Critical Technologies Office for the company's tactical mission planning and control software.
The company's Kinesis software will be used as part of the Human-Machine Integrated Formations (HMIF) Increment 1 program. The goal of the program is to accelerate the introduction of robotic formations to reduce risk to soldiers and improve the decision-making capabilities of armored and infantry units.
According to the company, the HMIF program will integrate both ground and air systems to assist military personnel in locating and engaging enemy targets. AeroVironment's Kinesis software will provide a unified user interface for mission planning, tactical situational awareness, autonomous systems control and payload control.
"AV's Kinesis software is a true 'force multiplier' that enables a single tactical operator to control a mixed fleet of autonomous systems from different manufacturers. This transforms military operations and accelerates our combat readiness," said Jason Hendrix, AV Vice President and General Manager.
The software ensures interoperability across multiple tactical command and control platforms and includes a Software Developers Kit to integrate third-party software. For the HMIF program, AeroVironment is partnering with Neya Systems (an Applied Research Associates company), Parry Labs and QinetiQ to deliver comprehensive solutions.
The financial terms of the agreement were not disclosed in the announcement.
