AeroVironment secured a $20 million contract from the Air Force Research Laboratory (AFRL) to develop next-generation ceramic materials. Under the 39-month agreement, company specialists will collaborate with AFRL scientists on lightweight, thermally resilient structures for high-speed vehicles and turbine engines.
Shares of AeroVironment rose more than 15% on Thursday. The rally followed reports of potential U.S. government investments in domestic drone manufacturers, boosting broader sector sentiment. The trading session also recorded unusually high call option activity for the stock.