Experiencing triple-digit percentage year-over-year revenue growth, commanding global enterprise backlog and accelerating military training momentum
AIRO Group Holdings, Inc. (NASDAQ:AIRO)("AIRO" or the "Company"), a company specializing in advanced aerospace and defense technologies, announced today that Company executives, including Executive Chairman and Co-Founder Dr. Chirinjeev Kathuria and CEO and Co-Founder Joe Burns, will attend the 55th edition of the Paris Air Show, taking place from June 16 to June 22, 2025, in Paris, France.
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Shares of AIRO common stock began trading on the Nasdaq Global Market under the ticker symbol "AIRO" on June 13, 2025. AIRO's market debut comes amid strong historical financial performance for the Company and underscores its commitment to an integrated portfolio of cutting-edge technologies, including the development of fully autonomous AI-enabled surveillance drones, eVTOL hybrid and electric cargo aircraft, advanced avionics systems and comprehensive flight operations training solutions. In 2024, AIRO achieved over $86 million in revenue, reflecting growth of more than 100% from the previous year. This increase is attributed to an increase in drone shipments and support revenue driven by market entry strategies to target NATO member countries.
"The strength of AIRO lies in its diversified yet complementary portfolio of products and services, all centered around a unified aerospace and defense ecosystem," said Executive Chairman, Dr. Chirinjeev Kathuria. "AIRO's complementary business segments, with strategic locations in the US, Canada, and Europe, provide unparalleled access for our global client base. With significant year-over-year revenue and EBITDA growth, we believe our offerings are essential for both current and future operational landscapes."
Segment Overview
AIRO's Drones (Uncrewed Air Systems) segment, the largest segment, experienced unprecedented revenue growth over the past two years, generating over $75 million in 2024. This success is largely due to the global demand for its military drone equipment and services, led by AIRO's branded RQ-35 Heidrun.
"The demand for our systems continues to rise globally, serving warfighters in challenging operational environments," said CEO, Joe Burns. "Our surveillance drone solutions have proven themselves in harsh battlefield conditions, offering precision, accuracy, and AI-enabled operational, communication and data analysis capabilities."
The Electric Air Mobility segment also saw significant progress into 2025, with a backlog of over 300 eVTOL aircraft orders from notable operators worldwide. AIRO's focus on cargo transportation, certification, and manufacturing in Canada, along with its patented Slowed Rotor Compound technology, positions it uniquely for certification in as early as 2027. "Our eVTOL family has attracted attention due to its size, mission profiles, minimal noise footprint and cargo capacity," said CEO, Joe Burns.
AIRO's Training segment, renowned for delivering specialized military training solutions to the US Department of Defense (DoD) for over a decade, has recently secured a second-phase five-year Indefinite Delivery Indefinite Quantity (IDIQ) contract valued at over $5.7 billion. This contract focuses on providing Close Air Support (CAS) and Adversary Air pilot training. Under multiple IDIQ contracts—including the Combat Air Force/Commercial Air Service (CAF CAS II) and Terminal Air Attack Controller Trainer (TAACT) Contracts—AIRO's elite training teams deliver initial qualification and follow-on training for DoD clients on an ongoing basis.
To enable it to provide a wide variety of specialized training operations, AIRO is expanding its aircraft fleet of L-39 and S-211 fighter jets and Twin-Cessnas equipped for these missions.
"We are proud to deliver high-caliber training support to our military partners," said CEO, Joe Burns. "Our expert aircrews and specialized aircraft aim to ensure our warfighters receive realistic and effective training. I am extremely proud of this dedicated team of specialized trainers operating AIRO's military training business."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy AIRO securities, nor shall there be any sale of AIRO securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About AIRO
AIRO is a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. AIRO is organized into four operating segments, each of which represents a critical growth vector in the aerospace and defense market: Drones, Avionics, Training, and Electric Air Mobility.
Forward-Looking Statements
The statements contained in this press release that are not historical facts are forward-looking statements. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "estimates," or "anticipates," or similar expressions which concern our strategy, plans, projections or intentions. These forward-looking statements may be included throughout this press release, and include, but are not limited to, statements relating to AIRO's operational landscapes, demand for AIRO's systems, timing and expectations regarding certification of its Slowed Rotor Compound technology, the expected value of its IDIQ contract and expansion of its aircraft fleet. By their nature, forward-looking statements are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. AIRO's expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Any forward-looking statement in this press release speaks only as of the date of this release. AIRO undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
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Dan Johnson
AIRO Group Holdings, Inc.
[email protected]