Award establishes Switchblade 400 as key component of Army's enduring next-generation loitering munition program

AeroVironment, Inc. ("AV") (NASDAQ:AVAV) today announced that it has been awarded a prototype agreement from the U.S. Army for the Low-Altitude Stalking and Strike Ordnance (LASSO) program to support the rapid development, delivery and testing of the Switchblade® 400 loitering munition.

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U.S. Army selects Switchblade® 400 for LASSO program, advancing portable precision strike capabilities with AI-enabled targeting and modular design to support modern battlefield operations. (Photo AV)

The award establishes Switchblade 400, AV's medium-range, man-portable, anti-armor loitering munition, as a key component of the Army's LASSO program, supporting the service's modernization priorities for rapidly deployable, precision strike capabilities that can operate effectively in contested environments.

"This award reflects the Army's confidence not only in Switchblade 400, but in AV's ability to deliver at scale," said Trace Stevenson, President of Autonomous Systems at AV. "Being selected under the LASSO program positions AV as a long-term partner to the Army as it modernizes its loitering munition capabilities, from development and testing through production, fielding, and continuous capability evolution."

The first loitering munition purpose-built to operate within AV_Halo™, AV's modular command-and-control ecosystem, Switchblade 400 incorporates advanced aided target recognition (ATR) and autonomous capabilities to detect, classify, and engage targets, day or night, in denied and contested environments while delivering the same anti-armor performance comparable to larger systems, like the Switchblade 600 Blk 2.

Core to Switchblade 400 is the implementation of a Modular Open Systems Approach (MOSA) in system design to ensure long-term system resilience and relevance allowing for interoperability, upgradeability, and affordability as missions evolve.

Known as the "Lightweight Tank Destroyer," and sized to fit common launch tubes, Switchblade 400 enables a sensor-to-shooter concept of operations that allows a single soldier to detect, identify, and engage targets through a unified, networked architecture – shortening decision timelines while increasing precision, speed, and operational flexibility at the tactical edge. The system features an all-up round (AUR) weighing under 40 pounds that provides the soldier with a lightweight, man-portable, anti-tank weapon system.

"Switchblade 400 is the product of continuous feedback from the field and the soldiers who rely on our systems in real-world operations," said Brian Young, Senior Vice President of Loitering Munitions at AV. "We are constantly leaning forward, integrating new capabilities, enhancing performance, and reducing the burden on the warfighter. That soldier-driven approach is central to how we develop, test, and deliver capability for the Army."

The new OTA award under LASSO follows a recent $186 million delivery order from the U.S. Army for Switchblade® 600 Block 2 and Switchblade® 300 Block 20 explosively formed penetrator (EFP) loitering munition systems, part of the Army's existing five-year, $990 million Indefinite Delivery, Indefinite Quantity (IDIQ) contract under the Lethal Unmanned Systems (LUS) Directed Requirement (DR), which was awarded in August 2024. It was the Army's first Switchblade order containing EFP payload, delivering enhanced lethality against armored threats.

"The Army's trust in the Switchblade family has been earned through years of real-world use by soldiers who rely on these systems every day," said Jimmy Jenkins, Executive Vice President of Precision Strike and Defense Systems at AV. "That trust reflects a clear operational need for precision, speed, and adaptability at the tactical edge—capabilities the Switchblade family is designed to deliver as missions and threats continue to change."

About AV

AeroVironment ("AV") (NASDAQ:AVAV) is a defense technology leader delivering integrated capabilities across air, land, sea, space, and cyber. The Company develops and deploys autonomous systems, loitering munitions, counter-UAS technologies, space-based platforms, directed energy systems, and cyber and electronic warfare capabilities—built to meet the mission needs of today's warfighter and tomorrow's conflicts. At the core of these technologies lies AV_Halo™, a modular, mission-ready suite of AI-powered software tools that empowers warfighters and enables full-battlefield dominance: detect, decide, deliver. With a national manufacturing footprint and a deep innovation pipeline, AV delivers proven systems and future-defining capabilities at speed, scale, and operational relevance. For more information, visit www.avinc.com.

Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, forecasts, and assumptions that involve risks and uncertainties, which could cause actual results to differ materially. Factors that may cause such differences include, but are not limited to, our ability to perform under existing contracts and obtain new ones; regulatory changes; competitor activities; market growth; product development challenges; and general economic conditions. For a more detailed discussion of these risks, please refer to AeroVironment's filings with the Securities and Exchange Commission. We undertake no obligation to update forward-looking statements as a result of new information or future events.

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U.S. Army Selects AV's Switchblade® 400 for LASSO Program