Blog > US Stocks and Markets > DARPA awards NanoSCOUT contract to AeroVironment (AVAV)
 | Email This Article Email This Article  | 

DARPA awards NanoSCOUT contract to AeroVironment (AVAV)

Posted August 14, 2008

“A few months ago, DARPA took its contract for the testing of a nano-sized unmanned plane away from Lockheed Martin and awarded it to AeroVironment.” — Stephanie Grimmett

by Stephanie Grimmett

Baltimore — (TFN):  Unmanned aircraft producer AeroVironment (AVAV:NASDAQ) is now the only company with a nano-sized plane in development, at least as far as DARPA is concerned.

A few months ago, DARPA (Defense Advanced Research Projects Agency, the Department of Defense’s research arm) took its contract for the testing of a nano-sized unmanned plane away from Lockheed Martin (LMT:NYSE) and awarded it to AeroVironment.

And Lockheed just announced that it’s officially canceled its program, without much info as to why. Lockheed’s aircraft was designed to mimic the flight of a maple seed. But AeroVironment’s version is more animal than plant.

Based on the theory of a hummingbird’s quicker-than-the-eye flutterings, AeroVironment’s NanoSCOUT will have a 20 mph high-speed mode, which can be slowed down to 1 mph when navigating through a building. Yep, it’s going to be small enough to easily maneuver through buildings, although you’d probably notice it buzzing around the corridors of your office.

DARPA says the NanoSCOUT will be ready for flight demonstrations in two years. Until then, check out AVAV if you’re looking for a defense tech stock with a good future ahead of it.

****Make sure you sign up for our FREE TFN News Feed for breaking news, special reports and new financial videos. You can pick your favorite reader. Or if you prefer, you can have the feed delivered to your email.

Related Articles


Posted by Stephanie Grimmett · Filed Under US Stocks and Markets 

Comments

close Reblog this comment
Powered by Disqus · Learn more
blog comments powered by Disqus