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ARLINGTON, Va. - AeroVironment, Inc. (NASDAQ: AVAV), an $8.6 billion market cap defense technology company with strong financial health indicators and 5.2% revenue growth over the last twelve months, has signed a Memorandum of Understanding with Hans Christian Andersen Airport in Odense, Denmark to utilize the UAS Denmark Test Center’s airspace and facilities, according to a company press release issued Wednesday.According to InvestingPro analysis, AeroVironment maintains excellent liquidity with a current ratio of 4.22, though the stock appears to be trading above its Fair Value. Discover 11 more exclusive ProTips and comprehensive financial metrics with InvestingPro.
The agreement aims to support AeroVironment’s uncrewed aircraft system demonstration operations, mission training, and customer integration activities across Europe. The collaboration is expected to facilitate joint research and development initiatives while positioning the Danish test center as a regional hub for UAS innovation. The company’s strategic expansion comes amid strong market performance, with the stock delivering a 22.6% return year-to-date.
This partnership follows AeroVironment’s February 2025 Framework Agreement with the Danish Ministry of Defence Acquisition and Logistics Organization, under which the company is delivering advanced UAS systems and training to the Danish Armed Forces.
"This MOU represents a significant milestone in expanding AV’s operational footprint in Europe," said Shane Hastings, AeroVironment’s vice president and general manager of Medium UAS.
The UAS Denmark Test Center, located at Hans Christian Andersen Airport, provides dedicated beyond visual line of sight airspace and specialized facilities for drone testing and development.
AeroVironment develops and deploys autonomous systems, precision strike systems, counter-UAS technologies, and other defense capabilities. The company states this collaboration will help ensure allied forces have access to necessary tools and training for operational readiness.
In other recent news, AeroVironment, Inc. announced a significant contract with the Italian Ministry of Defence valued at $46.6 million for its JUMP 20 medium uncrewed aircraft system. This five-year agreement includes the delivery of air vehicles, engineering services, and technical support, reflecting Italy’s efforts to modernize its defense capabilities. Meanwhile, AeroVironment has finalized its acquisition of BlueHalo, LLC, which expands its capabilities across multiple domains, including air, land, sea, space, and cyber defense technologies. This acquisition aims to enhance innovation and strengthen customer partnerships. Additionally, AeroVironment has launched Red Dragon, an unmanned aircraft system capable of operating autonomously in GPS-compromised environments, emphasizing electronic warfare resilience. The company also announced a contract with the Dutch Ministry of Defence to upgrade the Netherlands’ Puma 3 AE Unmanned Aircraft Systems, enhancing operational effectiveness in contested environments. Lastly, AeroVironment deployed its JUMP 20 system for the U.S. Navy’s 4th Fleet, providing maritime surveillance during Operation Southern Spear.
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