U.S. government approves foreign military sale of the Switchblade 300 in support of Taiwanese national security

ARLINGTON, Va. / Jul 02, 2024 / Business Wire / The U.S. Department of State announced approval of a possible foreign military sale of AeroVironment (AV) Switchblade^® 300 loitering munition systems to Taiwan for an estimated $60.2 million. The proposed sale will bolster Taiwan’s defensive capabilities and supports U.S. national security and economic interests in the Indo-Pacific region.

AV’s combat-proven Switchblade 300 systems have been deployed by the U.S. Army for more than a decade and are currently providing real-time ISR and precision strike support on battlefields in Ukraine. Ideal for use against beyond-line-of-sight targets, Switchblade systems were previously approved by the U.S. Government for use by Ukraine, France, the United Kingdom and additional allies after Russia’s 2022 invasion of Ukraine. The latest iteration of the system – Switchblade 300 Block 20 – features alternative warheads, including an armor penetrating capability, increased target attack angle, and significantly greater battery life, flight endurance, and radio link range.

“Switchblade 300 continues to be a critical weapon employed by the U.S. and its allies to defend homelands and operational forces against adversaries,” said Brett Hush, AV’s senior vice president and general manager for Loitering Munition Systems. “We have proven in steady combat against modern enemies that Switchblade 300 provides forces a competitive edge on the battlefield, introducing precise, long-range fires well beyond their current capabilities.”

The backpackable, lightweight Switchblade 300 offers operators the flexibility to rapidly maneuver on the ground, in and out of vehicles, or within fixed defensive positions prior to launch. Real-time video, GPS coordinates, selectable warheads, and wave-off capabilities provide the operator a proven, reliable asset that can be employed in various domains.

“AV looks forward to supporting the U.S. and Taiwan in rapidly fielding these highly effective weapon systems to deter aggression, defend the airspace and waters around Taiwan, and assist in maintaining political stability,” continued Hush.

ABOUT AEROVIRONMENT, INC.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can proceed with certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.

SAFE HARBOR STATEMENT

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.