Boeing shares edged up 1%, continuing to extend above buy range. Airbus' U.S.-listed shares rallied 1.6%. IBD'S TAKE: Defense contractors are also likely to see a boost in foreign orders as military spending around the world is expected to ramp up on growing tensions in Syria, Ukraine and the South China Sea. Despite TransDigm's caution, customers Boeing and Airbus have massive commercial order backlogs as carriers look to replace aging planes. On the defense side, President-elect Donald Trump has said he would boost military spending to make sure older equipment are replaced and called for removing spending limits. RELATED: Boeing: 'Realistic Possibility' Of Midsize Jet, Stretch 737; Stock In Buy Zone Boeing To 'Wait And See' If Qatar Order Can Prevent 777 Output Cut