AV and Korean Air Sign Memorandum of Understanding to Advance Medium Unmanned Aircraft Systems for the Republic of Korea

SEOUL, South Korea--(BUSINESS WIRE)--AeroVironment, Inc. (“AV”) (NASDAQ: AVAV), a global leader in all-domain unmanned systems, today announced the signing of a Memorandum of Understanding (MOU) that positions Korean Air as its priority partner in the Republic of Korea.

This alliance will focus on integrating and adapting AV’s JUMP^® 20 Group 3 vertical takeoff and landing (VTOL), fixed-wing uncrewed aircraft to meet the specific needs of the Korean Defense market. It also establishes a foundation for long-term joint research and development, sustained innovation, and local production – supporting efforts by the Korean Ministry of National Defense to grow its unmanned system infrastructure and expand manufacturing within the country.

“This agreement signals our growing international footprint, market presence, and commitment to delivering adaptable solutions in collaboration with trusted, in-country partners around the world,” said Larry Satterfield, AV’s Senior Director of Business Development for Asia Pacific. “With incredible mission flexibility and a rapidly growing global demand for the platform, JUMP 20 will anchor our partnership with Korean Air and meet Korea’s emerging defense needs.”

By leveraging AV’s operational track record and Korean Air’s defense ecosystem, the collaboration ensures Korea’s armed forces gain a mission-ready MUAS solution built to meet evolving regional and global defense challenges.

With proven endurance, range, and multi-payload flexibility, JUMP 20 is the ideal platform for advanced intelligence, surveillance, and reconnaissance (ISR) operations and a wide range of evolving mission demands. It has emerged as the global Group 3 platform of choice, with recently awarded contracts across Europe, including Denmark, Italy, and multiple other NATO allies.

About AV

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; our ability to execute definitive contracts in the future for the collaboration described herein; risks related to conducting business internationally; 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.