Battle-Tested And Booming Again; Military spending on both R&D and procurement has taken off since 9-11.(INDUSTRY SNAPSHOT)(AEROSPACE AND DEFENSE EQUIPMENT)

Byline: BRIAN DEAGON

It's been said over and over that 9-11 changed everything. That was certainly true for the Defense Department, which in the aftermath of the terrorist strikes began talking in earnest about reshaping the military.

Strategists began forming plans for the military to fight smaller conflicts after the Cold War ended.

But wars in Afghanistan and Iraq did something analysis couldn't do. It proved that equipping the military with better communications gear and precision weaponry for high-tech soldiers resulted in quick victories with minimal casualties.

"Soldiers have embraced the new technology and see the practical applications," said Robert Stallard, aerospace and defense analyst at Banc of America Securities. "The military tends to be risk-averse. But now that they know it works, that will move forward this idea of transforming the military."

It is moving forward and bringing with it more work for companies that develop and make equipment for aerospace and defense systems.

As an industry group, the aerospace/defense equipment suppliers are unusually diverse. The companies make a wide range of products -- from bullets and airline brakes to rocket boosters and robot parts. The aerospace/defense equipment …