Drones Stock AeroVironment Is Now a Space Stock, Too
AVAV is a space stock now -- it's just not a profitable space stock yet.
Overview
Established in 1971, AeroVironment (NASDAQ: AVAV) has evolved over the past six decades, first from a maker of experimental solar-powered aircraft, then to a specialist in small, innovative surveillance drones, and then to a major source of weaponized drones -- specifically, Switchblade loitering munitions -- for the military. And the bigger AeroVironment gets, the more new areas of the aerospace industry it's affecting.
Case in point: In May 2025, AeroVironment announced it had closed its purchase of defense company Blue Halo for $4.1 billion. For AeroVironment -- a stock worth less than $7.5 billion today -- this was a transformative deal, turning the company from a drone specialist into a self-described "global defense technology leader with integrated capabilities across air, land, sea, space, and cyber."
Image source: Getty Images.
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Originally published at www.fool.com.