On Friday, a big deal sent Boeing (NYSE: BA) stock jumping more than 2%, lifting aerospace and defense exchange traded funds (ETFs) along with it.

After the company won a $30 billion deal to build the U.S. Air Force’s aerial-refueling tankers, its stock rose to a nine-month high intraday, says MarketWatch. Although it cooled off at the close, it was still the Dow’s second-best performer of the day.

The news gave both iShares Dow Jones U.S. Aerospace & Defense (NYSEArca: ITA) and PowerShares Aerospace & Defense (NYSEArca: PPA) a 1% boost. Both count Boeing as top holdings: it’s 7.1% of PPA and 7.8% of ITA.

What’s more: the deal could mean even more gains for the company. Analysts say that in such deals, the share price of the winning bidder often outperforms the loser – in this case, EADS – by 80% in the five days following an announcement.

The defense sector is bracing for government cuts; perhaps this deal will help fill that gap.

Visit the aerospace & defense category for more articles about the sector.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.