Shares of up-and-coming defense contractor (NASDAQ: AVAV) are up 17% this week as of 11 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence.

Most famous for its drones or unmanned aircraft systems (UAS), AeroVironment is quickly building out a full suite of defense offerings following its $4.1 billion acquisition of Blue Halo last November.

This week, the company's shares are launching higher following an announcement from the U.S. State Department that the Trump administration plans to ease export restrictions for UAS makers such as AeroVironment.

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Source Fool.com