The past year has seen a lot of turbulence in the stock market, but there have been a few bright spots for investors in aerospace and defense companies. Shares in suppliers of aerospace components fared particularly well in 2011 as Airbus and Boeing ramped up output, and soaring order numbers added to the airframers' already bulging backlogs. Notable performers among suppliers include Hexcel (up 34%), TransDigm Group (33%), Triumph Group (31%), Sifco Industries (23%), Rolls-Royce (20%), Precision Castparts (18%), Safran (12%) and Moog (10%).

Eliminating duplicated maintenance required by different regulatory agencies could take billions of dollars out of maintenance and engineering work for leased aircraft when they transfer across borders. That's not a typo—it's billions. Given that leased aircraft comprise about 40% of the world's total commercial fleet, and that figure continues to climb, these costs if not corrected will grow with the leased fleet.

Boeing's decision to lower costs and increase efficiency in its defense operations by shifting work at its huge Wichita facility to elsewhere in its network may well be the first of many plant closures this year as U.S. military spending dries up.

AERONAUTICS/PROPULSION •The AeroVironment Nano Air Vehicle Team developed and unveiled a tiny remotely piloted air vehicle, the Nano Hummingbird. Looking and flying like a tiny bird, it is designed to record video with an onboard camera and send color video to a hand-held controller.

The Aeronautical Repair Station Association (ARSA) is pushing FAA to set new standards on maintenance information to better define what is essential to the continued airworthiness of an aircraft or part and who is affected by the standards. In comments on FAA’s proposed draft policy on instructions for continued airworthiness (ICA), the repair station organization says FAA must first address fundamental problems with the definition of ICA before it tackles availability.

Qantas says the Airbus A380 that was badly damaged following an uncontained engine failure in November 2010, VH-OQA, is finally due to return to service in March. Repair work on the A380 “is progressing well,” a Qantas spokesman tells Aviation Week. Repairs began in May 2011 and are expected to cost AU$135 million ($139.75 million). In early 2011, Qantas said the aircraft would fly again by the end of that year. However, for the past six months, the airline has signaled that a return to service early this year was more likely.

“Mr. President, congratulations. You're a tough adversary. No hard feelings, old pal. It's a great two-party system we have. We gave our best and you outdid us. As a matter of fact you stunned us. I never figured you could beat us that badly. I want to wish you all the success in the world.” Those words were spoken three decades ago by then-U.S. House Speaker Thomas P. (Tip) O'Neill, a liberal Massachusetts Democrat, to President Ronald Reagan, a conservative Republican, after the chief executive prevailed in a tough budget battle.

Back when two-way radios the size of bricks were the closest things to cell phones, and beepers the equivalent of texting, a 20-something manager of a General Motors chassis line in Montreal ducked out of work to run an errand. As luck would have it, a glitch shut down the auto line just as he reached the checkout counter. Suddenly, a gargantuan belt strapped around his waist came to life, with two beepers shrieking and flashing and the radio squawking.