Despite lingering pandemic blues, the defense industry is gradually regaining investors’ interest due to increasing investments and favorable Presidential administrative policies. We believe it would be prudent to place your bets on high-quality defense stocks Raytheon Technologies, (NYSE:). Northrop Grumman (NOC), General Dynamics GD (GD), L3Harris Technologies NYSE: Both are trading below their 52 week highs. So, let’s pore over these names.The defense industry was severely hit by pandemic-related business disruptions and has yet to recover completely. It remains an investment safe zone, as most companies that are defense-oriented continue to improve their finances. Furthermore, the fiscal 2022 National Defense Authorization Act aims to strengthen the existing “Buy American” policy, which plans to build a domestic workforce capable of supporting the USA’s national security-industrial base, thereby improving the network of defense trade relationships between America and its allies.

Grand View Research’s report states that global MRO and aerospace markets will grow at a 14% annual rate between 2021 and 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.

We believe it would be prudent to place your money on the fundamentally sound defense stocks Raytheon Technologies Corporation (NYSE) Technologies Corporation, Northrop Grumman Corporation, General Dynamics Corporation, and L3Harris Technologies, Inc., which currently trade below their 52-week highs.

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