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According to a Grand View Research report, the global aerospace and defense MRO market is expected to grow at a 14% CAGR from 2021 – 2028. Also, investors’ rising interest in aerospace and defense stocks is evident in the iShares U.S. Aerospace & Defense ETF’s (ITA) 12.5% year-to-date returns.
So, we think it could be wise to bet on fundamentally sound defense stocks Raytheon (NYSE:RTN) Technologies Corporation (RTX), Northrop Grumman Corporation (NYSE:NOC), General Dynamics Corporation (NYSE:GD), and L3Harris Technologies, Inc. (LHX), which are now trading below their 52-week highs.
