AEVEX confirms $350 million Navy GARC contract extended to June 2027
AEVEX Corp. said its Global Autonomous Reconnaissance Craft (GARC) program remains active, with the U.S. Navy contract now valued at about $350 million and prolonged through June 2027. The company delivered 325 GARC units in 2025 and added enhancements such as mine‑countermeasure packages. AEVEX emphasized that recent media reports do not affect its Maritime Systems division or its financial results. It also noted ongoing development of next‑generation unmanned surface vessels.
Why it matters
The contract extension secures revenue through mid‑2027 and confirms that the program will not disrupt AEVEX's earnings outlook, according to the company’s statement.
Key facts
- 1The GARC contract value increased to approximately $350 million and now runs until June 2027. tradingview.com
- 2AEVEX delivered 325 GARC units to the U.S. Navy in 2025. investing.com
- 3The company stated that no Navy orders have been halted. investing.com
- 4AEVEX is adding mine‑countermeasure packages to the delivered vessels. investing.com
- 5AEVEX is developing next‑generation unmanned surface vessels named Chaser and Comet. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.