© Adobe Stock Images
AEVEX Corp. (NYSE:AVEX) shares gained 11% on Tuesday after the company announced it had been awarded a $50 million contract by the United States Air Force to enhance unmanned mission-support capabilities for ongoing operations.
According to the company, the award includes $27 million in initial funding and will support expanded production of its long-range precision strike platform.
AEVEX said the platform has been designed to operate on extended-range missions in contested environments where GPS signals may be unavailable or disrupted.
The company added that the unmanned system offers high payload capacity, rapid reconfiguration and seamless integration of mission payloads, allowing it to support a broad range of operational requirements.
Work under the contract will be carried out across AEVEX’s engineering, integration and manufacturing facilities in the United States.
Join the discussion: Connect with other investors on your favorite stocks or explore the top-talked-about stocks on our Breakout Boards.
This article was written by the editorial team at InvestorsHub/ADVFN and is provided for informational purposes only. In some cases, editorial staff may use artificial intelligence–based tools to assist in the research, drafting, or editing of content, under human review and oversight. This article does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. The views expressed are based on publicly available information believed to be reliable at the time of publication, but accuracy or completeness is not guaranteed. Readers should conduct their own independent research and consult a qualified financial professional before making any investment decisions.
ProfitScout
1 month ago
ProfitScout
1 month ago
ProfitScout
2 months ago
makinezmoney
5 months ago
makinezmoney
5 months ago
makinezmoney
5 months ago
makinezmoney
5 months ago
makinezmoney
5 months ago
makinezmoney
5 months ago
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
AEVEX shares climb after securing $50 million U.S. Air Force contract (AVEX)
Defense company wins new unmanned systems award AEVEX Corp. (NYSE:AVEX...