AEVEX Aerospace

What AEVEX Aerospace does

AEVEX Aerospace is a U.S. defense technology company headquartered in Solana Beach, California, that designs, manufactures, and operates autonomous unmanned aerial systems (UAS), unmanned surface vessels (USVs), and AI-driven navigation and targeting software primarily for the U.S. Department of Defense and allied government customers. The company's portfolio is organized around three integrated product lines: (1) the CompassX open-standards AI autonomy platform, comprising CompassCore (MOSA/NDAA-compliant hardware), CompassVision (vision-based navigation with <5m RMS accuracy in GPS-denied environments), CompassEngage (autonomous target engagement software), CompassPNT (assured PNT family), and CompassEarth (geospatial intelligence); (2) a portfolio of Group I–III precision-strike UAS (Atlas, Disruptor, Dominator, Dagger, Raker, Onyx, Vandal, Sicario, X-Frame), the Mariana long-endurance aircraft, and Mako/Mako Lite USVs, plus the partner-developed OmniRaider VTOL UAS with Israel Aerospace Industries; and (3) mission solutions including ForgeX additive manufacturing, full-spectrum airborne ISR, intelligence analysis, aircraft modification (FAA Part 145), flight operations, and counter-UAS red teaming.

The company generates revenue primarily through fixed-price U.S. Government contracts for hardware/systems delivery (one-time license/sales) and recurring managed services such as the FIRIS airborne ISR program for Cal OES. Approximately 78% of FY2025 revenue ($432.9M) and ~84% of funded backlog ($503.1M total, $356.6M funded) derived from U.S. Government customers, with about two-thirds of recent revenue tied to Ukraine-related UAS programs (per Goldman Sachs research). AEVEX operates ~100,000 sq ft of distributed manufacturing and modification facilities across California, Florida, Virginia, Ohio, and Alabama, employs approximately 650 people (including 150+ engineers), and has delivered over 9,300 unmanned systems to operational environments representing more than $1.2 billion in contract value. The company completed its NYSE IPO (AVEX) in April 2026, raising $320M, and a $154.6M follow-on offering in June 2026, with FY2026 revenue guidance of $600-620M.

Name

AEVEX Aerospace

Legal name

AEVEX Corp.

Website

https://aevex.com

Company type

Public

Founded year

2020

Operating status

Ipo

Headcount range

501–1,000 employees

Short description

AEVEX Aerospace is a U.S. defense technology company that designs, manufactures, and operates autonomous unmanned aerial and surface systems, AI-driven navigation and targeting software, and additive-manufactured platforms, primarily serving the U.S. Department of Defense and allied government customers.

Ownership category

akta.pro rank

Product category

Defense Aerospace Unmanned Systems

NAICS

Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511), Guided Missile and Space Vehicle Manufacturing (336414), Other Guided Missile and Space Vehicle Parts and Auxiliary Equipment Manufacturing (336419), Other Aircraft Parts and Auxiliary Equipment Manufacturing (336413), Aerospace Product and Parts Manufacturing (33641)

SIC

Search, Detection, Navagation, Guidance, Aeronautical Sys (3812), Aircraft Parts & Auxiliary Equipment, Nec (3728), Aircraft & Parts (3720), Aircraft (3721)

akta.pro primary industry

VTOL & Hybrid UAV Platforms (IMABAIAC)

akta.pro secondary industries

Military Unmanned Aircraft Systems (UAS) & Autonomous Aerial Platforms (IMABAMAC), Autonomy Software, AI & Mission Management (UAS/UXV) (IMABAIAH), Autonomous Flight Control & Guidance Systems (UAS/Urban Air Mobility) (IMABAFAO), Maritime Unmanned Systems (USV/UUV) & Control Stations (IMABAKAJ), Military Avionics, Mission Computers & Flight Controls (IMABAMAE)

Keywords

• Unmanned aircraft systems
• Defense aerospace solutions
• Autonomous navigation technology
• Precision strike drones
• Airborne ISR services

Headquarters

HQ city

Solana Beach

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. U.S. Government Defense Contracts (Hardware/Systems Sales): Primary revenue stream generated via one-time and multi-year fixed-price government contracts for delivery of unmanned aircraft systems (UAS), unmanned surface vessels (USVs), loitering munitions, and additive-manufactured platforms. Q1 2026 revenue of $216.7M (up 307% YoY) driven primarily by $161.0M higher revenue from UAS products in the Tactical Systems segment, anchored by execution of the EUCOM Deep Strike program. 78% of 2025 revenue derived from U.S. Government; roughly 84% of funded backlog tied to U.S. government contracts.
2. Managed Airborne ISR Services (FIRIS Program): Recurring/repeat contract revenue from operating the Fire Integrated Real-Time Intelligence System (FIRIS) for California Governor's Office of Emergency Services (Cal OES). $15.2M option year contract continues program that has delivered 2,600+ flight hours and ~1,700 missions since 2020. AEVEX operates and sustains manned and unmanned aircraft for persistent ISR collection.
3. Full-Spectrum Airborne ISR & Mission Support Services: Recurring revenue from manned and unmanned ISR aircraft operations, sensor integration (EO/IR, radar, SIGINT), and mission support services. Includes flight operations, maintenance, aircrew training, data management, and processing/exploitation/dissemination (PED). Supports U.S. Africa Command ARIES task order via SMX partnership.
4. Aircraft Integration, Modification, and Testing Services: Professional services revenue from FAA Part 145 certified repair station, AS9100 fabrication, and Transport Canada/international approvals. Includes design, testing, repair, certification, structural modifications, systems integration, and STC development for turboprops to transport category jets. Recent example: $12.3M multi-mission DHC-6-300 Twin Otter delivery to Oregon Department of Forestry.
5. Intelligence Analysis and Geospatial Intelligence Services: Recurring revenue from intelligence analysis and multi-domain data fusion services (air, land, sea, space, cyber) for defense and intelligence customers, leveraging AEVEX's CompassEarth platform and analyst expertise in ISR data processing.
6. Counter-UAS Red Teaming and Threat Replication Services: Recurring/subscription-style revenue from C-UAS Red Teaming, RF analysis, mission systems integration, vulnerability assessment, and threat emulation services for defense customers across CONUS and OCONUS locations.
7. Engineering Services and Field Support: Recurring revenue from engineering services and field support teams bundled with hardware contracts (e.g., $18.5M USAF contract includes AEVEX engineering and field services teams supporting Group 3 UAS delivery). Vertically integrated engineering capabilities are a key differentiator.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

AEVEX Aerospace designs, manufactures, and fields modular unmanned aerial systems (Group I–III), unmanned surface vessels (USVs), and the proprietary CompassX AI-driven navigation and autonomy platform for U.S. and allied defense customers. The company also delivers full-spectrum airborne ISR services, aircraft modification/integration, additive manufacturing (ForgeX), intelligence analysis, and flight operations support to U.S. Department of Defense, special operations, and civilian government agencies.

Product overview

AEVEX Aerospace operates a platform-plus-modules architecture organized into three integrated product lines: (1) Advanced Autonomy — the CompassX open-standards AI/navigation platform composed of the CompassCore hardware module, CompassVision vision-based navigation, CompassEngage autonomous engagement software, CompassPNT positioning/navigation/timing family, and CompassEarth geospatial intelligence module; (2) Unmanned Systems — a portfolio of Precision Strike UAS (Sicario, X-Frame, Atlas, Dagger, Vandal, Onyx, Raker, Disruptor, Dominator), Long Endurance Aircraft (Mariana), and Unmanned Surface Vessels (Mako, Mako Lite), together with the partner-developed OmniRaider VTOL; and (3) Mission Solutions — including the ForgeX additive-manufacturing Drone Factory of the Future, Intelligence Analysis, Full Spectrum Airborne ISR, Aircraft Integration/Modification/Testing, Flight Operations and Mission Support, and Counter UAS Red Teaming services. The CompassX autonomy stack is the unifying technology thread that powers navigation, targeting, and mission execution across the air and maritime unmanned platforms, while the Mission Solutions services wrap engineering, manufacturing, flight operations, and intelligence around those platforms.

Differentiator

Problem solved

Functional benefit

Brands

• CompassX: AEVEX's open standards, AI-driven navigation and autonomy platform that unites crewed and uncrewed systems; includes CompassCore, CompassVision, CompassEngage, CompassPNT, and CompassEarth modules.
• ForgeX
• Atlas
• Disruptor
• Raker
• Vandal
• Dominator
• Mako
• Mako Lite
• Mariana
• Dagger
• Sicario
• X-Frame
• Onyx

Products and services

• CompassX
• CompassCore
• CompassVision
• CompassEngage
• CompassPNT
• CompassEarth
• Sicario
• X-Frame
• Atlas Precision Strike System
• Dagger Precision Strike UAS

Named customers8 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability10 records

Feature18 records

Partnerships

Ten partnerships are on record, tiered core, flagship and minor.

• Persistent SystemscoreTechnology or Integration · 5 May 2026AEVEX joined Persistent Systems' Wave Relay MANET Ecosystem as the 20th partner, integrating Wave Relay MANET technology into AEVEX's Atlas UAS and Mako/Mako Lite unmanned surface vessels. Provides scalable communication fabric for connecting unmanned systems, sensors, and warfighters.
• Athena Technology Solutions Holdings, LLCcoreStrategic or Co-development Partner · 22 April 2026AEVEX plans to use IPO proceeds to acquire 16 million shares in Athena Technology Solutions Holdings, a provider of full-spectrum airborne intelligence solutions. The acquisition strengthens AEVEX's airborne ISR capabilities and complements existing CompassX-enabled airborne ISR offerings.
• X-Bow SystemscoreTechnology or Integration · 14 April 2026AEVEX signed a $12.2 million contract with X-Bow Systems to supply thousands of solid rocket motors and launch cradles for drones, enabling takeoff from unprepared surfaces and confined spaces. Deliveries scheduled from March to August 2026. X-Bow's patented Additive Manufactured Solid Propellant technology enables rapid transition from contract award to operational deployment.
• NATO (REPMUS 2026 exercise)coreOthers · 6 February 2026AEVEX Aerospace announced it will participate for the first time in NATO-led REPMUS 2026 unmanned maritime systems exercise in Troia, Portugal, alongside Commander, Task Force 66, deploying Mako unmanned surface vessels during the August-September exercise. Co-hosted by Naval Surface Warfare Center, Port Hueneme Division and U.S. Naval Academy.
• SelectTech Services CorporationcoreStrategic or Co-development Partner · 15 January 2026SelectTech Services Corporation and AEVEX jointly developed ForgeX, a fully expandable composite shelter with integrated additive manufacturing capabilities for military field environments. Enables units to 3D-print mission-critical tools, replacement parts, and unmanned aircraft on-site without relying on supply chains.
• RapidFlightcoreStrategic or Co-development Partner · 28 October 2025AEVEX acquired select assets from RapidFlight, expanding its UAS portfolio and launching the 'Drone Factory of the Future' additive manufacturing system. Acquisition drives integration of additive manufacturing capabilities for Raker, Onyx, Vandal systems.
• Israel Aerospace Industries (IAI)flagshipStrategic or Co-development Partner · 14 October 2025IAI and AEVEX jointly debuted the OmniRaider next-generation VTOL UAS at AUSA 2025. System features 12-14 hours endurance, 100-mile range, and multi-payload flexibility for simultaneous reconnaissance, surveillance, and strike. OmniRaider is based on the operational ThunderB platform and manufactured/fielded in the U.S. at AEVEX's Tampa facility. Strategy combines Israeli technology with U.S. domestic production.
• PipistrelminorStrategic or Co-development Partner · 14 October 2025Developed in collaboration with TSC and Pipistrel, the Mariana Long Endurance Aircraft (LEA) expands AEVEX's portfolio of advanced unmanned and optionally crewed systems.
• SMXcoreImplementation/ SI/ Consulting Partner · 1 October 2025AEVEX Aerospace partnered with SMX to support U.S. Africa Command ARIES Task Order, providing Processing, Exploitation, and Dissemination (PED) services for manned and unmanned platforms. Joint delivery of ISR services to AFRICOM.
• Veth Research Associates (VRA)coreStrategic or Co-development Partner · 1 October 2024AEVEX Aerospace acquired Veth Research Associates to enhance capabilities for contested and GPS-denied environments. The acquisition strengthens AEVEX's unmanned autonomy solutions and CompassX navigation/autonomy platform.

Scale indicators15 records

Recent moves9 records

Expansion highlights8 records

Direct peers

• Shield AI: Shield AI is a direct peer offering Hivemind autonomy software (analogous to CompassEngage/CompassX) and V-BAT vertical takeoff UAS. It targets the same DoD customer set and competes for autonomy, ISR, and tactical UAS dollars that AEVEX pursues.
• AeroVironment: AeroVironment (NASDAQ: AVAV) is the closest direct peer — a U.S. defense company producing loitering munitions (Switchblade), tactical UAS, and autonomous systems for the same DoD customers (U.S. Army, USSOCOM, USAF). AEVEX's Atlas launched effect directly competes with Switchblade in LE-SR and adjacent programs.
• Kratos Defense & Security Solutions: Kratos (NASDAQ: KTOS) is a direct peer in attritable Group 3+ UAS (XQ-58 Valkyrie, MQM-178 Firejet), target drones, and uncrewed combat aircraft. It overlaps with AEVEX's Disruptor/Dominator and competes for USAF attritable UAS opportunities.
• Anduril Industries: Anduril is a direct peer in AI-driven autonomy and unmanned systems, building Lattice (software backbone analogous to CompassX), Bolt / Roadrunner (UAS), and Dive-LD (USV). It competes with AEVEX for autonomy-stack and launched-effects contracts across DoD services.

Others

• Persistent Systems: Persistent Systems is an enabling/ecosystem partner (Wave Relay MANET, of which AEVEX is the 20th member) rather than a direct competitor. It supplies the mobile ad hoc networking layer that AEVEX integrates into Atlas UAS and Mako USVs, and is useful as a benchmark for defense communications and networking adjacencies.

Broad incumbents

• Northrop Grumman: Northrop Grumman (NYSE: NOC) is a broad incumbent defense prime supplying autonomy, PNT, ISR aircraft, and integrated mission solutions across air, sea, and space. It supplies CompassPNT-compatible IMUs and competes at the platform-of-systems level for autonomy and integrated airframe contracts.
• Lockheed Martin: Lockheed Martin (NYSE: LMT) is a broad incumbent defense prime with portfolio breadth across manned/unmanned ISR, precision strike, and integrated autonomy. It competes with AEVEX on launched effects and large DoD autonomy programs as a tier-1 integrator.
• Mercury Systems: Mercury Systems (NASDAQ: MRCY) is a broad incumbent in mission-critical defense electronics and avionics, overlapping with AEVEX's CompassCore/CompassPNT hardware stack. The AEVEX CEO was previously Mercury Systems COO, and the SVP Strategy led 18 acquisitions there, illustrating the deep competitive and talent overlap.
• Teledyne Technologies (FLIR): Teledyne (NYSE: TDY), including FLIR Systems, is a broad incumbent in sensors, imaging, and integrated unmanned solutions across defense and aerospace. AEVEX's CEO previously led FLIR's Unmanned Systems & Integrated Solutions business and AEVEX's CFO came from Teledyne FLIR, making it a close benchmark for unmanned-aerospace portfolio value.

Emerging players

• Red Cat Holdings: Red Cat (NASDAQ: RCAT) is an emerging small-UAS provider focused on military/ISR sUAS (Teal 2, Black Widow). It competes with AEVEX's Group I platforms (Sicario, X-Frame) and pursues similar U.S. Army and USSOCOM programs, though at a smaller scale and narrower scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/aevex-aerospace
• Xx.com/aevex_aerospace

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries3 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AEVEX Aerospace