Executive Briefings

Despite Defense Cutbacks, Business Drone Manufacturer Looks for Business in U.S. Airspace to Soar

Boosted by an increase in sales, Monrovia,Calif.-based drone maker AeroVironment Inc. exceeded analyst estimates and reported $8.1m in fiscal fourth-quarter profit, a turnaround from the same period a year earlier.

AeroVironment Chief Executive Timothy E. Conver said the company's drone sales remain strong despite the decrease in the number of troops in the Middle East and a tightening Pentagon budget.

AeroVironment, which makes small spy drones in Simi Valley, hopes to diversify its customer base in the coming years with the Federal Aviation Administration's impending introduction of regulations allowing small drones into U.S. airspace in 2015.

Drones are not allowed to fly in the U.S. except with permission from the FAA. But as interest in drones has increased among police departments and businesses, the agency has appeared willing to ease restrictions.

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AeroVironment Chief Executive Timothy E. Conver said the company's drone sales remain strong despite the decrease in the number of troops in the Middle East and a tightening Pentagon budget.

AeroVironment, which makes small spy drones in Simi Valley, hopes to diversify its customer base in the coming years with the Federal Aviation Administration's impending introduction of regulations allowing small drones into U.S. airspace in 2015.

Drones are not allowed to fly in the U.S. except with permission from the FAA. But as interest in drones has increased among police departments and businesses, the agency has appeared willing to ease restrictions.

Read Full Article