Latest news with #ChirinjeevKathuria
Business Wire
14-07-2025
- Business
- Business Wire
AIRO to Expand U.S. Manufacturing Footprint to Accelerate Advanced Drone Innovation and Strengthen Global Defense Capabilities, Building on RQ-35 Heidrun Success
ALBUQUERQUE, N.M. & MONTREAL & STØVRING, Denmark & WASHINGTON--(BUSINESS WIRE)--AIRO (Nasdaq: AIRO), a global leader in advanced aerospace and defense technologies, today announced plans to expand its U.S. footprint with the addition of a new manufacturing and engineering development facility. This strategic move builds on the success of AIRO's existing operations and is driven by the growing global demand for AIRO's flagship product, the RQ-35 ISR Drone. "...a new manufacturing and engineering development facility" Share The RQ-35 ISR Drone has rapidly gained international recognition for its reliability, performance, and mission versatility across defense and security sectors. Known in military applications as the RQ-35 Heidrun, the system offers significant advantages over existing micro-ISR drones due to its combination of full autonomy, long flight endurance, and ease of operation. It has been rigorously tested and deployed in harsh electronic warfare and GPS-denied environments, including active conflict zones, where it has demonstrated exceptional resilience and effectiveness. With hundreds of thousands of operational hours to date, the RQ-35 has proven to be a critical asset in intelligence, surveillance, and reconnaissance missions. Its robust supply chain and seamless integration with other battlespace systems make it a vital link between frontline intelligence gathering and real-time decision-making. These capabilities have made the RQ-35 an essential tool for modern military forces seeking reliable, scalable ISR solutions in dynamic and contested environments. The planned U.S. facility will not only enable AIRO to scale production efficiently and compete for American-made defense and commercial opportunities — it will also serve as a hub for future innovation. To support new product development, AIRO is designing and engineering efficient, reliable, and low-carbon-emission unmanned aircraft systems for both commercial and military markets. This includes ongoing enhancements to the RQ-35 and the development of the next generation of fully autonomous mini drones. 'Like our current manufacturing facilities in the U.S. and Europe, which are AS9100-certified, our intent is for this new site to meet the same rigorous aerospace quality standards,' said Joe Burns, CEO of AIRO. 'This commitment to quality not only strengthens our internal processes and systems, but more importantly, it allows our clients to receive consistent and reliable products. It's a win-win that reinforces our role as a trusted partner in mission-critical projects.' 'The growth of our drone business has been formidable,' added Dr. Chirinjeev Kathuria, Executive Chairman of AIRO. 'Fueled by the global acceptance and operational deployment of the RQ-35 by NATO countries, this segment has expanded rapidly. These systems are not only proving essential in active conflict zones but have the potential to be a cornerstone of homeland security strategies across allied nations. This expansion reflects our commitment to meeting that demand with unmatched quality and responsiveness.' About AIRO AIRO (Nasdaq: AIRO) is a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. AIRO is organized into four operating segments, each of which represents a critical growth vector in the aerospace and defense market: Drones, Avionics, Training, and Electric Air Mobility. Forward-Looking Statements The statements contained in this press release that are not historical facts are forward-looking statements. You can identify forward-looking statements because they contain words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' 'seeks,' 'intends,' 'plans,' 'estimates,' or 'anticipates,' or similar expressions which concern our strategy, plans, projections or intentions. These forward-looking statements may be included throughout this press release, and include, but are not limited to, statements relating to AIRO's operational landscapes, demand for AIRO's systems and products, AIRO's plans for a manufacturing and engineering development facility, expectations concerning future products and developments, the market acceptance and opportunity of AIRO's products and services, and other statements that are not historical fact. By their nature, forward-looking statements are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify, including those described in the section titled 'Risk Factors' in AIRO's prospectus filed with the Securities and Exchange Commission ('SEC') on June 16, 2025, as well as in other filings AIRO may make with the SEC in the future.. AIRO's expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Any forward-looking statement in this press release speaks only as of the date of this release. AIRO undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
Business Wire
26-06-2025
- Business
- Business Wire
AIRO Completes Naval Special Warfare Training Mission While Preparing to Execute on IDIQ Contract
ALBUQUERQUE, N.M. & MONTREAL & STØVRING, Denmark & WASHINGTON--(BUSINESS WIRE)--AIRO (Nasdaq: AIRO), a leader in advanced aerospace and defense technologies, today announced the successful conclusion of a highly specialized 90-day training support mission for Naval Special Warfare (NSW), building off strong revenue growth in 2024 and first half of 2025 in its military training division. "underscores that trust and reinforces our commitment to delivering innovative, mission-ready solutions" Share As a premier provider of special warfare subject matter experts and airborne assets, AIRO continues to deliver elite training solutions for the U.S. Navy and U.S. Marine Corps' Joint Terminal Attack Controller (JTAC) program. Operating across California, Idaho, and Nevada, AIRO deployed its fleet of fighter jets and specially modified Cessna twin-engine aircraft to execute hundreds of Close Air Support (CAS) mission hours. These operations were conducted under multiple award Indefinite Delivery Indefinite Quantity (IDIQ) contracts, including the Terminal Attack Controller Trainer (TACT) and Naval Special Warfare Air Support contracts. 'AIRO is honored to be recognized as a trusted provider of training solutions for the U.S. Department of Defense and allied clients around the globe, especially during today's tumultuous geopolitical environment,' said Dr. Chirinjeev Kathuria, Executive Chairman of AIRO. 'Our recent award as a mandated participant of the $5.7 billion Combat Air Force/Commercial Air Service (CAF CAS II) IDIQ contract underscores that trust and reinforces our commitment to delivering innovative, mission-ready solutions. With more than 60 ongoing armed conflicts worldwide, we remain focused on preparing our forces for the evolving challenges of asymmetrical battlefronts, tactics, and locations.' Building on last year's momentum, AIRO entered 2025 with sustained and growing support, conducting extensive Close Air Support (CAS) and Intelligence, Surveillance and Reconnaissance (ISR) missions as part of both routine training and a major Air National Guard exercise. AIRO continues to expand its Training segment to support military readiness through advanced airborne platforms, operational excellence and deep subject matter expertise. Furthermore, AIRO has also recently launched additional training missions under new contracts with the U.S. Department of Defense, reinforcing its critical role in enhancing operational readiness and inter-service coordination, including its new contract marking 10 years of continuous support to NSW. In total, AIRO has secured more than $30 million in contract awards in direct support of NSW, delivering critical capabilities such as ISR aircraft, Full Motion Video (FMV) broadcast, live and simulated munitions, CAS and Call for Fire training, and dynamic unmanned ground target vehicles for live-fire exercises to enhance the realism and effectiveness of military training. AIRO's expertise also extends to allied partners. Most recently, the team prepared for an international exercise requiring the provision of Remotely Controlled Vehicles (RCVs) to serve as moving ground-based targets. These vehicles will be engaged with inert munitions to support target acquisition and engagement training. The customer is expected to lease over 50 targets and utilize up to eight of AIRO's elite RCV Control Teams to support the exercise, further demonstrating our global reach and commitment to advanced, realistic training solutions. 'We are proud to continue delivering high-caliber training support to our military partners,' said Joe Burns, CEO of AIRO Group. 'Our expert aircrews and specialized aircraft, under our notable brand 'Coastal Defense' remain at the forefront of CAS and ISR operations, ensuring our warfighters receive the most realistic and effective training available. AIRO's training operations underscore our broader commitment to supporting tier-one operators behind the scenes and ahead of the fight.' About AIRO AIRO (Nasdaq: AIRO) is a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. AIRO is organized into four operating segments, each of which represents a critical growth vector in the aerospace and defense market: Drones, Avionics, Training, and Electric Air Mobility. Forward-Looking Statements The statements contained in this press release that are not historical facts are forward-looking statements. You can identify forward-looking statements because they contain words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' 'seeks,' 'intends,' 'plans,' 'estimates,' or 'anticipates,' or similar expressions which concern our strategy, plans, projections or intentions. These forward-looking statements may be included throughout this press release, and include, but are not limited to, statements relating to AIRO's operational landscapes, demand for AIRO's systems, operations undertaken in relation to the IDIQ contract, and the expected value of its IDIQ contract. By their nature, forward-looking statements are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. AIRO's expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Any forward-looking statement in this press release speaks only as of the date of this release. AIRO undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
Business Wire
17-06-2025
- Business
- Business Wire
AIRO Group Holdings, Inc. to Attend Paris Air Show 2025
ALBUQUERQUE, N.M. & MONTREAL & STØVRING, Denmark & WASHINGTON--(BUSINESS WIRE)--AIRO Group Holdings, Inc. (Nasdaq: AIRO)('AIRO' or the 'Company'), a company specializing in advanced aerospace and defense technologies, announced today that Company executives, including Executive Chairman and Co-Founder Dr. Chirinjeev Kathuria and CEO and Co-Founder Joe Burns, will attend the 55 th edition of the Paris Air Show, taking place from June 16 to June 22, 2025, in Paris, France. Experiencing triple-digit percentage year-over-year revenue growth, commanding global enterprise backlog and accelerating military training momentum Share Shares of AIRO common stock began trading on the Nasdaq Global Market under the ticker symbol 'AIRO' on June 13, 2025. AIRO's market debut comes amid strong historical financial performance for the Company and underscores its commitment to an integrated portfolio of cutting-edge technologies, including the development of fully autonomous AI-enabled surveillance drones, eVTOL hybrid and electric cargo aircraft, advanced avionics systems and comprehensive flight operations training solutions. In 2024, AIRO achieved over $86 million in revenue, reflecting growth of more than 100% from the previous year. This increase is attributed to an increase in drone shipments and support revenue driven by market entry strategies to target NATO member countries. 'The strength of AIRO lies in its diversified yet complementary portfolio of products and services, all centered around a unified aerospace and defense ecosystem,' said Executive Chairman, Dr. Chirinjeev Kathuria. 'AIRO's complementary business segments, with strategic locations in the US, Canada, and Europe, provide unparalleled access for our global client base. With significant year-over-year revenue and EBITDA growth, we believe our offerings are essential for both current and future operational landscapes.' Segment Overview AIRO's Drones (Uncrewed Air Systems) segment, the largest segment, experienced unprecedented revenue growth over the past two years, generating over $75 million in 2024. This success is largely due to the global demand for its military drone equipment and services, led by AIRO's branded RQ-35 Heidrun. 'The demand for our systems continues to rise globally, serving warfighters in challenging operational environments,' said CEO, Joe Burns. 'Our surveillance drone solutions have proven themselves in harsh battlefield conditions, offering precision, accuracy, and AI-enabled operational, communication and data analysis capabilities.' The Electric Air Mobility segment also saw significant progress into 2025, with a backlog of over 300 eVTOL aircraft orders from notable operators worldwide. AIRO's focus on cargo transportation, certification, and manufacturing in Canada, along with its patented Slowed Rotor Compound technology, positions it uniquely for certification in as early as 2027. 'Our eVTOL family has attracted attention due to its size, mission profiles, minimal noise footprint and cargo capacity,' said CEO, Joe Burns. AIRO's Training segment, renowned for delivering specialized military training solutions to the US Department of Defense (DoD) for over a decade, has recently secured a second-phase five-year Indefinite Delivery Indefinite Quantity (IDIQ) contract valued at over $5.7 billion. This contract focuses on providing Close Air Support (CAS) and Adversary Air pilot training. Under multiple IDIQ contracts—including the Combat Air Force/Commercial Air Service (CAF CAS II) and Terminal Air Attack Controller Trainer (TAACT) Contracts—AIRO's elite training teams deliver initial qualification and follow-on training for DoD clients on an ongoing basis. To enable it to provide a wide variety of specialized training operations, AIRO is expanding its aircraft fleet of L-39 and S-211 fighter jets and Twin-Cessnas equipped for these missions. 'We are proud to deliver high-caliber training support to our military partners,' said CEO, Joe Burns. 'Our expert aircrews and specialized aircraft aim to ensure our warfighters receive realistic and effective training. I am extremely proud of this dedicated team of specialized trainers operating AIRO's military training business.' This press release shall not constitute an offer to sell or the solicitation of an offer to buy AIRO securities, nor shall there be any sale of AIRO securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About AIRO AIRO is a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. AIRO is organized into four operating segments, each of which represents a critical growth vector in the aerospace and defense market: Drones, Avionics, Training, and Electric Air Mobility. Forward-Looking Statements The statements contained in this press release that are not historical facts are forward-looking statements. You can identify forward-looking statements because they contain words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' 'seeks,' 'intends,' 'plans,' 'estimates,' or 'anticipates,' or similar expressions which concern our strategy, plans, projections or intentions. These forward-looking statements may be included throughout this press release, and include, but are not limited to, statements relating to AIRO's operational landscapes, demand for AIRO's systems, timing and expectations regarding certification of its Slowed Rotor Compound technology, the expected value of its IDIQ contract and expansion of its aircraft fleet. By their nature, forward-looking statements are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. AIRO's expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Any forward-looking statement in this press release speaks only as of the date of this release. AIRO undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
Yahoo
13-06-2025
- Business
- Yahoo
Exclusive: Airo chairman says strong IPO reflects robust aerospace demand
- Airo Group's market debut on Friday is reflective of "healthy investor appetite" for aerospace and defense stocks, and comes as a recent bout of economic uncertainty is calming, the drone maker's Chairman and Co-founder Chirinjeev Kathuria has told in an interview on Friday. At 11:14 ET (15:14 GMT), shares were up as much as 81.5%, trading at $18.50. The stock had opened at $12.90. Airo, which is trading on the Nasdaq Composite under the symbol "AIRO," priced its initial public offering of 6 million shares of its common stock at $10 per share. It had previously said it would offer 5 million shares at a projected range of $14 to $16 a share. The New Mexico-based group said it expected to accrue gross proceeds from the offering of $60 million, before deducting underwriting discounts, commissions and other offerings expenses. Underwriters of the flotation have been granted a 30-day option to purchase up to an additional 900,000 shares, solely to cover any potential over-allotments, Airo added. Cantor Fitzgerald, BTIG, and Mizuho acted as joint lead book-running managers for the proposed offering, it noted. The Airo Group IPO was reportedly multiple times oversubscribed, according to Bloomberg. The offering is expected to close on June 16, subject to customary closing conditions. Kathuria said Airo had gained "significant commercial traction" in recent years, particularly as an increasing number of countries look to bolster their defense capabilities in response to global conflicts. Kathuria had previously indicated interest in buying as much as $5 million worth of shares at the offering price. "Given this recent growth, and the opportunities for our business ahead, we believe this is the ideal time for Airo to enter the public markets and enter our next phase of growth," Kathuria said. Initial public offerings were largely muted after President Donald Trump unveiled his sweeping "reciprocal" tariffs at a so-called "liberation day" event on April 2. Despite a broad-based climb in global stocks since then, investors have flagged worries over uncertainty stemming from often-erratic changes to Trump's trade stance. Some high-profile names, including buy-now-pay-later firm Klarna and ticket platform StubHub, have reportedly delayed their IPO plans as a result of the murky outlook. Yet the IPO market has staged a recent revival. On Thursday, fintech company Chime's shares logged a roughly 37% spike in its debut, following in the footsteps of strong performances from Circle, CoreWeave and eToro after their recent flotations. "The aerospace and defense sector has healthy investor appetite, and we believe we are strategically positioned in this IPO window with macro-economic uncertainty quieting down," Kathuria said. While the duties impact a "wide range of players" in the aerospace and defense segment, Airo's agility and diversification have also given it the tools to weather any changes in U.S. trade policies, Kathuria noted. Although Trump has delayed most of his elevated tariffs for 90 days in order to give officials more time to negotiate trade deals with individual countries, it remains broadly unclear where these talks stand. The White House's pause is due to expire in early July. This week, Trump said the U.S. plans to send out letters to dozens of nations soon that will set out the terms of trade deals. He added that these countries will then have to choose whether to "take it, or [...] leave it." Airo has taken steps to reduce its exposure to the levies, but the company believes the "tariff dynamic is simmering down" and the economic backdrop is becoming "more clear," Kathuria said. (Senad Karaahmetovic contributed reporting.) Related articles Exclusive: Airo chairman says strong IPO reflects robust aerospace demand Visa, Mastercard shares slide as WSJ says Walmart, Amazon exploring stablecoins Toronto-listed Methanex shares rise as Israel-Iran war may boost methanol prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
