ARLINGTON, Va.--(BUSINESS WIRE)--May 4, 2026--
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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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.
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)
DUBAI, United Arab Emirates (AP) — The U.S. military on Monday denied claims that Iran struck a Navy vessel as U.S. forces now offer to guide commercial ships through the Strait of Hormuz, where hundreds have been stuck since the Iran war began. Tehran over the past two months has attacked some vessels and blocked others that don’t receive its authorization.
The U.S. military’s Central Command also said two American-flagged merchant ships have “successfully transited through the Strait of Hormuz" and that that Navy guided-missile destroyers in the Persian Gulf are helping to restore commercial shipping traffic.
The statement on X said the destroyers transited the Strait of Hormuz “in support of Project Freedom” and that the merchant ships are ” safely headed on their journey.” It did not say when the Navy ships arrived or when the merchant vessels departed.
Shortly after the announcement, authorities in the United Arab Emirates issued a emergency missile alert urging residents to immediately seek shelter. It was the first such alert since a ceasefire in the Iran war went into effect in early April. There were no immediate reports of casualties or damage.
Iranian news agencies, including the semiofficial Fars and the Iranian Labour News Agency, had earlier claimed that Iran struck a U.S. vessel near an Iranian port southeast of the strait, accusing it of “violating maritime security and navigation norms.” The reports said the vessel was forced to turn back.
The U.S. Central Command said on social media that “no U.S. Navy ships have been struck.”
The U.S. military has said the new initiative, announced by President Donald Trump on Sunday, might involve guided-missile destroyers, more than 100 aircraft and 15,000 service members but has not specified what kind of assistance it would provide. The U.S.-led Joint Maritime Information Center has advised ships to cross the strait in Oman’s waters, saying it set up an “enhanced security area.”
It was unclear whether whether shipping companies, and their insurers, will feel comfortable taking the risk given that Iran has fired on ships in the waterway and vowed to keep doing so.
Iran has responded to the new U.S. effort by calling it a violation of the fragile ceasefire that has held for more than three weeks.
Iran’s control of traffic through the crucial artery for a significant amount of the world’s oil and gas supplies has proved a strategic advantage in its war with the U.S. and Israel, allowing Tehran to inflict tremendous pain on the global economy despite being outgunned on the battlefield.
Trump's announcement that the U.S. would “guide” ships out of the strait warned that Iranian efforts to block them "will, unfortunately, have to be dealt with forcefully.”
He described “Project Freedom” in humanitarian terms, designed to aid stranded seafarers, many on oil tankers or cargo ships, who have been stuck in the Persian Gulf since the war began. Crews have described to The Associated Press seeing drones and missiles explode over the waters as their vessels run low on drinking water, food and other supplies.
Iran’s state-run IRNA news agency called “Project Freedom” part of Trump's “delirium."
Iran’s military command on Monday said ships passing must coordinate with them.
“We warn that any foreign military force — especially the aggressive U.S. military — that intends to approach or enter the Strait of Hormuz will be targeted,” Maj. Gen. Pilot Ali Abdollahi told state broadcaster IRIB.
The Joint Maritime Information Center urged mariners to coordinate closely with Omani authorities “due to anticipated high traffic volume.” It warned that passing close to usual routes, known as the traffic separation scheme, “should be considered extremely hazardous due to the presence of mines that have not been fully surveyed and mitigated.”
But the head of security for the Baltic and International Maritime Council, a leading shipping trade group, said no formal guidance or details about the U.S. effort had been issued to the industry. Jakob Larsen questioned whether the effort was sustainable in the long run or envisioned as a more limited operation, and said there is a “risk of hostilities breaking out again” if it goes ahead.
And the United Arab Emirates on Monday accused Iran of targeting a tanker linked to its main oil company with two drones as it passed through the strait. It did not say when the attack took place. No injuries were reported.
The disruption of the waterway has squeezed countries in Europe and Asia that depend on Persian Gulf oil and gas, raising prices far beyond the region.
Trump has promised to bring down gas prices as he faces midterm elections this year.
The U.S. has warned shipping companies they could face sanctions for paying Iran for transit of the strait. It has enacted a naval blockade on Iranian ports since April 13, telling 49 commercial ships to turn back, U.S. Central Command said Sunday.
The blockade has deprived Tehran of oil revenue it needs to shore up its ailing economy.
U.S. officials have expressed hope that the blockade forces Iran back to the negotiation table.
“We think that they’ve gotten less than $1.3 million in tolls, which is a pittance on their previous daily oil revenues,” U.S. Treasury Secretary Scott Bessent told Fox News on Sunday, adding that Iran’s oil storage is rapidly filling up and “they’re going to have to start shutting in wells, which we think could be in the next week.”
Iran’s latest 14-point proposal for ending the war, made public over the weekend, calls for the U.S. lifting sanctions, ending the U.S. naval blockade, withdrawing forces from the region and ceasing all hostilities, including Israel’s operations in Lebanon, according to the semiofficial Nour News and Tasnim agencies, which have close ties to Iran’s security organizations.
Iranian officials said they were reviewing the U.S. response, though Foreign Ministry spokesperson Esmail Baghaei told reporters on Monday that changing demands, which he did not detail, made diplomacy difficult.
Iran has claimed its proposal does not include issues related to its nuclear program and enriched uranium — long a driving force in tensions with the U.S. and Israel.
Iran’s proposal wants other issues resolved within 30 days and aims to end the war rather than extend the ceasefire. Trump on Saturday said he was reviewing the proposal but expressed doubt it would lead to a deal.
Pakistan said Monday it has facilitated the transfer of 22 crew members from an Iranian vessel seized earlier by the U.S., describing the move as a confidence-building measure as Islamabad attempts to revive talks. Pakistan hosted face-to-face talks last month.
Pakistan's Foreign Ministry said the crew members, who had been aboard the Iranian container ship MV Touska, were flown to Pakistan overnight. They were expected to be handed over to Iranian authorities.
The vessel will be brought into Pakistani territorial waters for necessary repairs before being returned to its original owners, the ministry said, adding that the process is being coordinated with the support of Iran and the U.S.
Metz reported from Ramallah, West Bank. Munir Ahmed contributed from Islamabad, Pakistan.
A bulk cargo ship sits at anchor in the Strait of Hormuz off Bandar Abbas, Iran, Saturday, May 2, 2026.(Amirhosein Khorgooi/ISNA via AP)
A patrol boat moves through the water as cargo ships sit at anchor in the Strait of Hormuz off Bandar Abbas, Iran, Saturday, May 2, 2026.(Amirhosein Khorgooi/ISNA via AP)
An Iranian tugboat floats in the foreground as cargo ships sit at anchor in the Strait of Hormuz off Bandar Abbas, Iran, Monday, May 4, 2026. (Amirhosein Khorgooi/ISNA via AP)
A container ship sits at anchor as a small motorboat passes in the foreground in the Strait of Hormuz off Bandar Abbas, Iran, Saturday, May 2, 2026. (Amirhosein Khorgooi/ISNA via AP)
People view rugs at the Grand Bazaar in Tehran, Sunday, May 3, 2026. (AP Photo/Vahid Salemi)
A woman looks at jewelry in the window of a gold shop at Tehran's historic Grand Bazaar, Iran, Sunday, May 3, 2026. (AP Photo/Vahid Salemi)
A man stands in the water, appearing to fish, as bulk carriers, cargo ships, and service vessels line the horizon in the Strait of Hormuz off Bandar Abbas, Iran, Monday, April 27, 2026.(Razieh Poudat/ISNA via AP)
Vehicles drive past a billboard with graphic showing Strait of Hormuz and sewn lips of U.S. President Donald Trump in a square in downtown Tehran, Iran, Saturday, May 2, 2026. (AP Photo/Vahid Salemi)
Cargo ships are seen at sea near the Strait of Hormuz, as viewed from a rocky shoreline near Khor Fakkan, United Arab Emirates, Friday, May 1, 2026. (AP Photo/Fatima Shbair)
