AeroVironment CEO Wahid Nawabi told CNBC’s Jim Cramer that the defense contractor has capabilities that could help create a “Golden Dome” missile defense system.
“We have many, many pieces of the puzzle for [an] effective and successful adoption and implementation of the Golden Dome,” Nawabi said.
President Donald Trump rolled out plans for the costly Golden Dome project late last month. He said he expects it to be operational in about three years and that it would cost roughly $175 billion. According to Trump, the system “will be capable of intercepting missiles even if they are launched from other sides of the world and even if they are launched from space.”
Nawabi lauded AeroVironment’s recent acquisition of BlueHalo, a defense company known for space-related technology. He said AeroVironment bought the outfit in part for its counter drone technology. After the acquisition, Nawabi continued, his company is “essentially in all the critical domains of modern warfare,” such as air, land, sea, space and cyber.
According to Nawabi, the industry is at an “inflection point.” He said AeroVironment was “purpose built” for the strategic priorities of U.S. national security and its allies. Nawabi added that the company also has the production capacity to “deliver now,” unlike some of its competitors.
“I think we’re positioned better than ever before in the history of our company to be able to capitalize on…this very seismic shift that is going to be taking place in the next several years in our industry,” he said.
Aerovironment beat on earnings and revenue when it reported Tuesday after close, but shares fell nearly 3% in extended trading.
