Aevex Says Drone Boats Contract With Navy Now Worth $350 Million

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Aevex Says Drone Boats Contract With Navy Now Worth $350 Million
Aevex Corp. said its existing contract with the US Navy for drone speedboats known as GARCs has been modified, increasing its total value to about $350 million and extending its term through June 2027.
Aevex has been enhancing the boats it’s already delivered “with new mission packages” as part of the existing contract, the company said in a statement. The defense technology company made the announcement in response to a Bloomberg report on the US Navy planning no new orders for the boats, formally known as global autonomous reconnaissance crafts.

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