Mistral Inc.

Mistral Inc., a woman-owned small business headquartered in Bethesda, Maryland, manufactures precision strike systems and loitering munitions (drones) as a prime contractor on 94% of its recent awards, competing predominantly in full-and-open (non-set-aside) defense procurements. The company is a subsidiary of Ondas Holdings Inc. and operates across military platforms including the GOLAM II ground loitering aerial munition system, the HERO-120 all-up round system for infantry brigade combat teams, and drone components in support of Executive Order 14307–Unleashing American Drone Dominance.

Mistral's customer concentration is heavily weighted to Army acquisition and special operations. The Department of the Army Acquisition Support Center's Program Executive Office Soldier dominates by potential value—three awards carry a combined $1.21 billion ceiling, anchored by a $982 million single-award indefinite delivery contract for HERO-120 systems and fire control units awarded on September 30, 2025, running through September 29, 2030. The United States Special Operations Command accounts for 12 awards with $121.4 million combined potential value, principally under a $73.6 million single-award IDC for GOLAM II systems running through May 16, 2029. The Department of Homeland Security Customs and Border Protection, the Department of the Navy, and the United States Marine Corps round out the top five by dollars, each holding smaller awards in the $43 million to $50.5 million range. The top five customers account for 97% of combined potential value across the portfolio.

Mistral holds or operates under four primary vehicles: the Army's $982 million HERO-120 IDIQ with PEO Soldier (signed September 30, 2025), the $73.6 million USSOCOM GOLAM II single-award IDC (May 2024 through May 2029), a Basic Ordering Agreement with Army Contracting Command–Redstone Arsenal for drones and drone components running through December 2030, and a $2.5 million blanket purchase agreement with the Bureau of Alcohol, Tobacco, Firearms and Explosives for X-ray systems, maintenance, repairs, and loaners (September 2025 through September 2030). Representative recent work includes a $190.8 million delivery order from PEO Soldier for HERO-120 all-up round systems, fire control units, field service representatives, training, and non-recurring engineering (September 30, 2025, through September 29, 2030); a $20 million delivery order from Army Contracting Command–Redstone Arsenal for drones and drone-dominant components under the drone-dominance executive order (April 2, 2026); a $32.3 million delivery order from USSOCOM for loitering munitions and spares (November 2024); and a $37.5 million other-transaction agreement with PEO Soldier for the Low Altitude Stalking and Strike Ordnance (HERO 90) prototype (October 1, 2025, through September 30, 2030).

Activity has accelerated sharply. Mistral recorded one award in 2022, one in 2023, sixteen in 2024, nine in 2025, and seven through July 2026, reflecting the Army's urgent acquisition pathway for organic loitering munitions systems. The total portfolio spans 234 awards (prime and sub combined) with $1.52 billion in combined potential value, of which $369.2 million has been obligated. Only three awards (combined potential value $30.2 million) complete within the next twenty-four months, limiting near-term recompete exposure. The vendor's capability footprint concentrates on precision strike systems, loitering munitions hardware, fire control units, spare parts, and field service representative support—a narrow, highly specialized defense portfolio that reflects direct alignment with Army and SOCOM lethal unmanned systems priorities.

Mistral operates as a subcontractor on parallel programs with General Dynamics Land Systems (Stryker vehicle supply and maintenance work across multiple fiscal-year ordering periods, 2023–2025) and Atlantic Diving Supply (supply of MISTRAL-configured equipment, including base units, rotor control units, maintenance training, and robot configurations, December 2024). A May 2024 sub-award under Leidos involved studies of novel explosives for advanced multi-purpose munitions. Across SCI (Service Contract Inventory), the vendor reports minimal service-contract activity—one record in FY2025, recorded as a named subcontractor only—indicating that Mistral's federal revenue model is dominated by goods procurement and product delivery rather than labor-hour service contracts.