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ARLINGTON, Va. - AeroVironment, Inc. (NASDAQ:AVAV), a defense technology company whose stock has surged nearly 160% over the past six months and commands a market value of $15.4 billion, unveiled new enhancements to its Puma LE small unmanned aircraft system on Tuesday, adding a laser target designator and universal gimbal kit that expands the drone’s capabilities beyond reconnaissance.
The new laser target designator transforms the portable Group 2 drone into a precision targeting platform, allowing operators to designate targets for precision-guided munitions. The system incorporates Trillium Engineering’s HD59 Laser Target Designator payload, which includes electro-optical, mid-wave infrared, long-wave infrared, and short-wave infrared sensors. According to InvestingPro data, AeroVironment has demonstrated strong execution with 44% revenue growth in the last twelve months, and analysts expect continued sales growth this year.
"With a laser target designator now integrated into the Puma LE, we are delivering a significant tactical advantage," said Trace Stevenson, president of Autonomous Systems at AeroVironment, in a press release statement.
The company also introduced a Universal Gimbal Kit that enables field operators to swap different payload systems without requiring depot-level support. This feature allows for rapid reconfiguration based on mission requirements.
The Puma LE provides over 3.5 hours of flight endurance with the new Trillium HD59 payload, according to the company. The drone is designed for use by dismounted troops, special operations forces, and military units.
Matt Carreon, Vice President of Business Development at Trillium Engineering, noted that the integration "brings a powerful, lightweight, multi-sensor EO/IR gimbal system to the field, enabling precision laser designation, something previously confined to larger platforms."
The enhanced Puma LE system maintains its man-portable design while adding capabilities that were traditionally available only on larger unmanned aircraft systems. While the stock is currently trading near its 52-week high, InvestingPro analysis suggests the shares may be overvalued at current levels. Investors can access 14 additional exclusive ProTips and comprehensive financial analysis through the Pro Research Report, available with an InvestingPro subscription.
In other recent news, AeroVironment reported a 16% organic sales growth in its first quarter, surpassing consensus expectations. The company also reaffirmed its fiscal year outlook for both sales and EBITDA, which led Stifel to maintain its Buy rating and a $295.00 price target on the stock. In addition to its financial performance, AeroVironment secured a contract with the U.S. Space Force to deliver two BADGER phased array antenna systems, marking the first option executed under the Satellite Communication Augmentation Resource program. The company also announced a partnership with Taiwan’s National Chung-Shan Institute of Science and Technology to collaborate on autonomous systems for defense purposes.
Furthermore, AeroVironment successfully demonstrated the air launch of its Switchblade 600 loitering munition system from an MQ-9A Reaper unmanned aircraft, in partnership with General Atomics Aeronautical Systems. The company has also appointed Johnathan Jones as Senior Vice President of Cyber and Mission Solutions, where he will oversee the strategic direction and operations of this division. These developments reflect AeroVironment’s ongoing efforts to expand its capabilities and strengthen its partnerships in the defense sector.
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