The project focuses on creating a drone capable of operating in GPS-denied zones, offering high-payload capacity and rapid reconfiguration to meet evolving defense requirements. Production and integration work will span the company's various facilities across the United States.
In section Market Quotes
Aevex Secures $50 Million Air Force Contract for Strike Platform
Shares of Aevex climbed 12% to $20.16 in premarket trading Tuesday after the U.S. Air Force awarded the drone manufacturer a $50 million contract. The deal, which includes an immediate $27 million infusion, tasks the company with developing a long-range, precision strike platform designed for high-stakes, contested environments.
Chief Executive Roger Wells described the award as a validation of the company's ability to deliver cost-effective, rapidly deployable technology. Owned by private-equity firm Madison Dearborn Partners, Aevex has seen its stock performance stabilize following an initial public offering in April that was priced at $20 per share.
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