Defense tech · AVAV
AeroVironment (AVAV) gets 85% of its revenue from the U.S. government
What AeroVironment reports in its FY2026 10-K, and what federal contract records show.
Summary
AeroVironment reported that 85% of its FY2026 revenue came from the U.S. government: about $1.68B by our calculation of $1.98B in total. That ranks 7th of the 30 companies we cover that disclose a share. The share rose 10.0 pts from FY2025.
Federal agencies obligated $496M in prime contracts to the 5 recipient records we matched to AeroVironment in federal fiscal year 2025, 100% of it from the Department of Defense. That is far below the revenue the company reports, so the comparison is withheld while we review the match.
Share of revenue over time
AeroVironment: U.S. government share of revenue, by fiscal year
What AeroVironment counts as government revenue
- Definition used
- U.S. government, prime + sub (includes FMS)
- Foreign military sales
- Included in the reported figure
- Subcontract work
- Included (work as a subcontractor to other contractors counts)
- Adjusted ex-FMS share
- Not available: the figure includes FMS but the company does not disclose the amount
“… the U.S. government, either as a prime contractor or subcontractor and inclusive of foreign military sales, represented approximately 85% of our revenue for the fiscal year ended April 30, 2026.”
AeroVironment, FY2026 Form 10-K · read the filing
The contract record
Prime contract obligations on USAspending.gov for the 5 recipient records we matched to AeroVironment (obligations are not revenue).
In FFY2025, 100% of these obligations came from the Department of Defense and 0% from civilian agencies.
Contract obligations by awarding agency, FFY2025
Top 5 awarding sub-agencies; the rest grouped as Other.
| Awarding agency | Obligations | Share |
|---|---|---|
| Department of the Army | $479M | 96% |
| Department of the Navy | $18.7M | 3.7% |
| Department of the Air Force | $997K | 0.2% |
| Federal Bureau of Investigation | $40K | 0% |
| Defense Logistics Agency | $22K | 0% |
Obligations by federal fiscal year
| Federal fiscal year | Obligations | Note |
|---|---|---|
| FFY2026 | $677M | preliminary DoD data posts with a 90-day delay |
| FFY2025 | $496M | Matched to FY2026 |
| FFY2024 | $384M | |
| FFY2023 | $432M | |
| FFY2022 | $194M | |
| FFY2021 | $212M |
Largest contracts active in FFY2025
Ranked by total obligated value to date on each award (all years), among awards with activity in FFY2025. Links open the award on USAspending.gov.
| Award | Agency | Description | Obligated to date | Period |
|---|---|---|---|---|
| W31P4Q20C0024Aerovironment, Inc. | Department of the Army | FY20-22 SWITCHBLADE HARDWARE PRODUCTION | $406M | 2020–2026 |
| W58RGZ23C0007Aerovironment, Inc | Department of the Army | UKRAINE RQ-20B ALL ENVIRONMENT (AE) 3 AND LONG ENDURANCE (LE) PUMA UNMANNED AIRCRAFT SYSTEMS (UAS) ACCESSORIES AND SERVICES IN SUPPORT OF | $323M | 2022–2025 |
| W91CRB25F0094Aerovironment, Inc | Department of the Army | LOITERED MUNITIONS, SWITCHBLADE 300 AND 600 ALL UP ROUNDS | $218M | 2025–2027 |
| W91CRB24F0412Aerovironment, Inc | Department of the Army | DELIVERY ORDER TO PURCHASE ALL UP ROUNDS, FIRE CONTROL SYSTEMS AND SMART BATTERY CHARGERS | $128M | 2024–2026 |
| W58RGZ25C0019Aerovironment, Inc | Department of the Army | PUMA AE 3, PUMA LE, PUMA ACCESSORIES, ERA, PUMA SOFTWARE UPDATE KIT, CONTRACTOR LOGISTICS SUPPORTS SERVICES (CLS), OCONUS/CONUS, CONTRACTOR… | $62.6M | 2025–2028 |
| W91CRB25F0067Aerovironment, Inc | Department of the Army | DELIVERY ORDER TO PURCHASE 330 SWITCHBLADE 600 ALL-UP ROUNDS WITH SELECTIVE AVAILABILITY ANTI-SPOOFING MODULE, COLOR-TAN. | $55.5M | 2024–2026 |
| W91CRB25FA299Aerovironment, Inc | Department of the Army | LOW ALTITUDE STALKING AND STRIKE ORDNANCE (LASSO). ALL DELIVERABLE AND WORK SHALL BE PERFORMED IN ACCORDANCE WITH THE BASE CONTRACT… | $39.2M | 2025–2027 |
| W58RGZ22C0023Aerovironment, Inc | Department of the Army | FMS UZBEKISTAN PUMA AE3. | $36.0M | 2022–2025 |
| FA945321C0002Bluehalo Llc | Department of the Air Force | SURVIVABILITY, ATTRIBUTION, AND SELF-SENSING INTEGRATED EXPERIMENT (SASSIE) | $35.4M | 2020–2026 |
| FA865022F5402Bluehalo Llc | Department of the Air Force | POLYMERS AND RESPONSIVE MATERIALS R&D AND EXPLORATION | $35.0M | 2022–2028 |
Recipients we matched to AeroVironment
These USAspending recipient records are rolled into the figures above. Readers can check each one; if a match looks wrong, tell us.
| Recipient name | UEI | How matched | FFY2025 obligations |
|---|---|---|---|
| AEROVIRONMENT, INC | MWKWXVSSC518 | USAspending parentAEROVIRONMENT, INC. | $496M |
| AEROVIRONMENT, INC. | YJG1MDHLBC88 | USAspending parentAEROVIRONMENT, INC. | — |
| ARCTURUS UAV, INC | ZVG6XCZMY1H6 | USAspending parentAEROVIRONMENT, INC. | — |
| BLUEHALO LLC | HE86H1JJJTK5 | USAspending parentAEROVIRONMENT, INC | — |
| AEROVIRONMENT, INC. | PN69XPUMA243 | USAspending parentAEROVIRONMENT, INC. | — |
Peers
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Sources
- AeroVironment, FY2026 annual report (U.S. government share) (accessed October 15, 2026)
- AeroVironment, FY2025 annual report (U.S. government share) (accessed October 16, 2026)
- AeroVironment, FY2024 annual report (U.S. government share) (accessed October 16, 2026)
- AeroVironment, FY2023 annual report (U.S. government share) (accessed October 16, 2026)
- AeroVironment, FY2022 annual report (U.S. government share) (accessed October 16, 2026)
- SEC XBRL company facts for AeroVironment (revenue history) (accessed October 16, 2026)
- USAspending.gov recipient profile: Aerovironment, Inc (accessed October 16, 2026)
- USAspending.gov API, prime contract awards (award types A–D) (accessed October 16, 2026)
- Federal Exposure methodology