AeroVironment
AVAVAeroVironment holds 20+ years of US Army installed base across Raven, Puma, and Switchblade platforms — a doctrine and training moat that no technology advantage can quickly displace.
From the source
AeroVironment, Inc., also known as AV, is an American defense technology company headquartered in Arlington, Virginia that designs and manufactures autonomous systems, counter-UAS systems, and space systems. The company was founded in 1971 by Paul B. MacCready Jr., a designer of human-powered aircraft. The company provides the US Department of Defense and foreign militaries with small and medium-sized drones—notably the Raven, Switchblade, Wasp, and Puma. Through its acquisition of BlueHalo in 2025, the company provides directed energy and space communications systems to U.S. and foreign militaries. As of 2026, the company's market cap was $10B.