AeroVironment's (AVAV) upcoming investors day could provide a "constructive framework" and mid-term total addressable market targets that will support an outlook of mid-teens organic growth, RBC Capital Markets said in a note to clients Monday.

The brokerage said AeroVironment provides exposure to the US defense markets, particularly in the manufacture of unmanned aerial vehicles and counter-drone defense. "We believe these are growing markets both in the US and internationally as they have become increasingly important to all aspects of military affairs," analysts wrote.

AeroVironment has benefited from increases in US defense spending as well as aid to Ukraine, and currently sells its small unmanned aerial systems to more than 55 international governments, according to the note.

The brokerage said it expects the US Department of Defense will eventually replenish the inventory for the company's Switchblade one-way attack drones "and the success of the system should generate increased international interest in the Switchblade product line."

RBC Capital Markets maintained its outperform rating and $210 price target on AeroVironment's stock.