The iShares U.S. Aerospace & Defense ETF (ITA) saw an uptick today, closing at 154.69, a 1.18% increase from the previous day. The rise in aerospace and defense stocks is largely attributed to several significant developments in the sector. On November 26, 2024, the U.S. Navy awarded L3Harris a nearly $1 billion IDIQ contract, which is expected to bolster the company's revenue and market position. Additionally, the White House's request for an additional $7.3 billion to fund the Virginia- and Columbia-class submarine programs signals strong government support for defense spending, potentially benefiting companies involved in these projects. Furthermore, the successful demonstration of the UK's first autonomous extra-large submarine for military use and the U.S. Army's acquisition of the first Global 6500 aircraft for its HADES program highlight ongoing advancements and investments in defense technology.