AEVEX, a drone manufacturer based in Solana Beach, California, debuted on the New York Stock Exchange with shares rising 15%, opening at $23.01 and valuing the company at $2.57 billion. The firm raised $320 million in its initial public offering by selling 16 million shares. This positive market response highlights a growing investor appetite for defense-related companies, particularly as governments increase military spending amid ongoing geopolitical tensions. AEVEX specializes in airborne intelligence, surveillance, and reconnaissance systems, with the U.S. government accounting for 78% of its revenue in 2025. The company operates in two segments: tactical systems, which focus on autonomous defense technologies, and global solutions, providing engineering support for both manned and unmanned platforms. CEO Roger Wells emphasized the significant funding requested for unmanned systems in the Department of Defense's FY2027 budget, indicating a favorable market environment for AEVEX's offerings. The company plans to maintain its focus on the defense sector while exploring selective growth opportunities in adjacent markets.