UVision wins additional $50 million-plus U.S. Army order for HERO 120 loitering munitions
The award expands a U.S. Army program that could be worth up to $982 million over five years, following successful acceptance testing of the Israeli company’s loitering munition.
Israeli defense company UVision and U.S.-based defense contractor Mistral have received an additional order worth more than $50 million from the U.S. Army for HERO 120 loitering munition systems and related equipment, expanding a program that could ultimately be worth as much as $982 million over five years.
The order comes as the U.S. Army seeks to expand its inventory of unmanned and precision-strike systems and follows the successful completion of the first Lot Acceptance Tests for the HERO 120 under the Army's Lethal Unmanned Systems program.
Under the program, Mistral and UVision are jointly delivering the HERO 120 to the Army, with UVision serving as the system's design authority and playing a major role in its development, manufacturing and delivery. The systems are being manufactured domestically in the United States.
The latest order will increase the number of HERO 120 systems and associated equipment available to U.S. soldiers. The Army says the additional systems will support training and readiness, allowing soldiers to build proficiency with a precision-strike capability intended for tactical formations.
The order is significant for UVision because it adds to a U.S. military program that has already emerged as one of the company's most important contracts. In October 2025, UVision and Mistral signed an agreement with the U.S. Army with a cumulative potential value of up to $982 million over five years.
The HERO 120 is a mid-range loitering munition designed to give tactical units the ability to observe, identify and track targets before engaging them. The system maintains operator control throughout the mission.
The latest award follows a key testing milestone. In the first Lot Acceptance Tests conducted for the Army program, HERO 120 systems completed all required acceptance-test missions. The tests were intended to demonstrate that the systems met the Army's requirements before delivery.
For UVision, the U.S. Army business is arriving at a potentially important moment. The company is controlled by Israeli businessman Aaron Frenkel and has been preparing for a possible Nasdaq listing at a valuation of between $3.5 billion and $4 billion.
The company had been expected to publish its prospectus in July and begin a roadshow before seeking to complete the offering. UVision had previously sought to raise between $500 million and $1 billion, depending on investor demand, with part of the proceeds expected to repay shareholder loans provided by Frenkel and a substantial secondary component potentially allowing him to sell part of his stake.
The planned offering comes after UVision was unable to reach agreement with Israeli institutional investors over valuation during a pre-IPO fundraising process. Institutions were reportedly willing to invest at a valuation of about $2.9 billion, below the valuation Frenkel was seeking.
One of the main assets highlighted during that process was the U.S. Army contract with Mistral. The additional order now provides another development in that relationship as UVision seeks to expand its presence in the U.S. market.
