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AeroVironment Wins US Army Prototype Agreement for Switchblade 400 Loitering Munition

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-- AeroVironment (AVAV) said Monday it won a prototype agreement from the US Army to support the rapid development, delivery, and testing of the Switchblade 400 loitering munition.

The agreement establishes Switchblade 400 as a key component of the US Army's Low-Altitude Stalking and Strike Ordnance program, AeroVironment said.

Financial terms of the agreement were not disclosed.

Shares of AeroVironment were down more than 2% in Monday trading.

Price: $180.69, Change: $-4.29, Percent Change: -2.32%

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