5 Best Defense Stocks That Will Skyrocket

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1. AeroVironment, Inc. (NASDAQ:AVAV)

Stock Upside Potential: 55.87%

Number of Hedge Fund Holders: 40

AeroVironment, Inc. (NASDAQ:AVAV) is one of the best defense stocks that will skyrocket. On April 7, AeroVironment, Inc. (NASDAQ:AVAV) received a $25 million contract from the US Air Force. Under the terms of the contract, the company is tasked with transitioning human health and performance technologies from research to field deployment.

The company is to mature mid-stage sensor, diagnostic, and material technologies to accelerate the delivery of deployable solutions that enhance warfighter readiness and survivability. AeroVironment was selected because it has the tools, track record, and technical expertise to tackle unique challenges with health-focused devices that have prevented them from reaching operational use. AeroVironment is to test at scale and advance health-focused technologies and devices.

Earlier, AeroVironment was selected by the United States Navy to provide Contractor-Owned, Contractor-Operated (COCO) Intelligence, Surveillance, and Reconnaissance (ISR) services. The company is competing for delivery orders to provide turnkey, persistent ISR support using autonomous platforms as part of a new initiative to expand and modernize ISR capabilities.

AeroVironment, Inc. (NASDAQ:AVAV) is a defense technology company specializing in the design, development, and manufacture of autonomous robotic systems, including small unmanned aircraft systems (UAS), loitering munitions (such as the Switchblade kamikaze drones), counter-UAS systems, and tactical missile systems for global defense, government, and commercial customers.

While we acknowledge the potential of AVAV to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AVAV and that has 100x upside potential, check out our report about the cheapest AI stock.

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