HIGHBuilt-in & outside partyCustomer
85%
U.S. government
“10-K Item 1A: 'Sales to the U.S. government, either as a prime contractor or subcontractor ... represented approximately 85% of our revenue for the fiscal year ended April 30, 2026'”
AVAV · Concentration risk · 10-K extracted
AeroVironment (AVAV) concentration risks
Updated
The most significant concentration AeroVironment discloses is U.S. government at 85%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Source: AeroVironment’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH2
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-in & outside partyCustomer
63%
DoD principal U.S. government customer
“10-K Item 1A: 'The DoD, our principal U.S. government customer, accounted for approximately 63% of our revenue for the fiscal year ended April 30, 2026.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-18AeroVironment's revenue is overwhelmingly tied to the U.S. government. Sales to the U.S. government, either as a prime contractor or subcontractor, represented approximately 85% of revenue for the fiscal year ended April 30, 2026. Within that, the DoD, the principal U.S. government customer, accounted for approximately 63% of revenue. Both are large-share exposures, and the DoD figure is a subset of the broader government figure rather than an additional one. The character is mixed. On one hand, the exposure is structural: the company operates in defense markets where the government is the dominant buyer, and that is a feature of the industry. On the other, it carries real dependency elements, because program awards, appropriations, continuing resolutions and contract terminations are decided by a single customer group and can shift revenue timing sharply. Netted together, there is little diversification across buyers, so budget and policy changes are the main idiosyncratic risk that could move the verdict. The offset is that government demand is typically multi-year and contract-backed, and the concentration is clearly disclosed in the filing.
For the engine’s reasoning on AVAV’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Aerospace & Defense
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BA | Boeing Company (The) | 2 | 3 | 0 | 5 |
| AVAV● | AeroVironment, Inc. | 2 | 0 | 0 | 2 |
| AIR | AAR Corp. | 1 | 0 | 1 | 2 |
| ACHR | Archer Aviation Inc. | 1 | 0 | 0 | 1 |
| AXON | Axon Enterprise, Inc. | 0 | 2 | 0 | 2 |
| ATRO | Astronics Corporation | 0 | 0 | 1 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.