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AeroVironment

Arlington, VA Founded 1971 Defense & Aerospace

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Latest analysis

Updated Aug 7, 2026

AeroVironment appoints aerospace and defense CFO Michael Ruppert to board as Burbage retires

AeroVironment expanded its board to ten directors and appointed Michael D. Ruppert, EVP and CFO of ManTech, effective August 5, 2026, while Charles Thomas Burbage retired from the board after thirteen years of service. Ruppert brings 25 years of aerospace and defense financial, strategic, and M&A experience, positioning the board to support AV's stated growth strategy and capacity scaling in autonomous systems, loitering munitions, and directed energy.

Tone: neutral

Revenue

$2B

AVAV 10-K · FY 2026

Employees

4,091

Revenue FY2025

$820.6M

Founded

1971

Profile

AVAV 10-K Item 1 · Jun 29, 2026

AeroVironment is a defense technology provider that designs, develops, and manufactures autonomous systems, precision strike and loitering munitions, counter-UAS technologies, space-based platforms, directed energy weapons, and cyber and electronic warfare capabilities. The company serves the U.S. DoD, allied governments, intelligence community agencies, and select commercial customers across air, land, sea, space, and cyber domains. Effective May 1, 2025, following the acquisition of BlueHalo, it operates in two reportable segments: Autonomous Systems (AxS) and Space, Cyber and Directed Energy (SCDE).

Read filing description ↓

We are a defense technology provider delivering integrated capabilities across air, land, sea, space, and cyber. We develop and deploy autonomous systems, precision strike systems, counter-UAS technologies, space-based platforms, directed energy systems, and cyber and electronic warfare capabilities. We operate an international manufacturing footprint, delivering proven systems and capabilities in markets that we believe offer the potential for significant long-term growth. In addition, we believe that some of the innovative potential products, services and technologies in our R&D pipeline will emerge as new growth platforms in the future, creating additional market opportunities. Effective May 1, 2025 in connection with our acquisition of BlueHalo Financing Topco, LLC ('BlueHalo'), we operate our business in two reportable segments: (1) Autonomous Systems ('AxS') and (2) Space, Cyber and Directed Energy ('SCDE'). Our AxS segment encompasses small and medium uncrewed aircraft systems, loitering munitions, counter-UAS and electronic warfare solutions, unmanned maritime and ground systems, and the AV_Halo command and control software platform. Our SCDE segment, added through the BlueHalo acquisition, covers space-qualified electronics, digital beamforming antennas, laser communications, directed energy laser weapon systems, and full-spectrum cyber and mission solutions for U.S. defense, intelligence community, and national security customers. Our core technological capabilities span more than 50 years of innovation in robotics autonomy, low-SWaP system integration, AI and machine learning, sensor miniaturization, and modular open systems architecture.

Primary products

Puma LE
Puma 3 AE
Puma VTOL
P550
Raven B
VAPOR 55 CLE

Business segments

Autonomous Systems Space, Cyber and Directed Energy

End markets

U.S. Department of Defense U.S. Army U.S. Marine Corps U.S. Special Operations Command U.S. Air Force U.S. Navy U.S. Space Force U.S. Cyber Command Intelligence community agencies Federal and public safety agencies Allied governments and coalition partners Commercial customers

Geographies

United States International allied governments United Kingdom Germany

Named customers

U.S. Army U.S. Marine Corps U.S. Special Operations Command U.S. Air Force U.S. Navy U.S. Space Force U.S. Cyber Command Defense Advanced Research Projects Agency (DARPA)

During our fiscal year ended April 30, 2026, we generated approximately 25% of our revenue from the U.S. Army pursuant to orders placed under contract by the U.S. Army on behalf of itself as well as for several other organizations within the U.S. DoD. For that same period, other U.S. government agencies and government subcontractors accounted for 47% of our sales revenue. However, no individual contract accounted for greater than 10% of funded backlog as of April 30, 2026.

Named competitors

Elbit Systems Ltd. Quantum-Systems, Inc. Redwire Corporation Teledyne Technologies, Inc. Sierra Nevada Corporation Lockheed Martin Corporation The Boeing Company Textron, Inc.

“Several companies across the globe, primarily in the U.S., attempt to compete in our markets to some degree, although we believe none match the breadth and depth of our product lines nor our expertise in core capabilities.” Competitive position, as stated in the filing

Revenue commentary · FY 2026

Revenue grew substantially in fiscal year 2026 versus fiscal year 2025, primarily reflecting the addition of the SCDE segment following the BlueHalo acquisition effective May 1, 2025.

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SeventhBiz analysis 6 signals 9 diligence answers 2 M&A transactions SWOT

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