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Army Procures More RQ-11B Ravens

Wednesday, September 12th, 2012

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AeroVironment Inc. [AVAV] recently said it received $16.4 million in additional Army funding for its RQ-11B Raven small unmanned aerial vehicles under a contract with a total projected value of $65.8 million. The company announced the initial contract funding of $15.8 million June 1. The overall contract action includes RQ-11B Raven systems, new miniature gimbaled payloads and initial spares packages and is funded from the Army’s fiscal 2012 procurement budget. Delivery of the systems, spares and payloads is scheduled for completion…

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