S&P 5007,666.60▲0.5% Nasdaq26,217.83▲0.5% Dow53,061.95▲0.6% Russell 2K2,953.17▲1.1% 10-Yr4.80%+0bp VIX15.20−1.14 WTI$90.70▲0.5% Gold$4,431.70▲1.9% EUR/USD1.159▼0.1% BTC$81,004▲4.8% Nikkei66,215▼0.1%
At close · Thu, Sep 3, 2026
Daily Market Updates.

Earnings

HomeEarningsPreviewsAeroVironment wins $464.8 million Army contract for LO…

AeroVironment wins $464.8 million Army contract for LOCUST X3 lasers

The award is the first U.S. production contract for directed-energy systems, and it calls for producing dozens of LOCUST X3 systems over the next several years.

AeroVironment said the U.S. Army awarded it a $464.8 million contract under the Enduring-High Energy Laser, or E-HEL, program.

Under the agreement, the company will produce dozens of its LOCUST X3 laser weapon systems over the next several years to defend against small, low-flying drones classified by the Pentagon as Group 1 through 3.

The company said the award is historic because it represents the first-ever production contract for directed-energy systems in U.S. history, moving laser weapons from prototype to full-scale production.

AeroVironment’s LOCUST X3 is a 30-kilowatt, platform-agnostic system intended to integrate with vehicles such as the Army’s Joint Light Tactical Vehicle, and it builds on years of field testing, with the company adding the program to its counter-drone portfolio.

More like this

Sources

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.