This is a great analysis of choppers that could be a proxy for the offshore drilling boom. According to the May 12th edition of Fortune Magazine, the offshore drilling boom combined along with increased usage of choppers for private travel has lead to a shortage of helicopters and their parts.

In a shaky stock market environment, there is no better place to turn than the defense contractors. Leading the S&P index by about 20% in 2008 (the 8th straight year of better relative performance), the so-called “big five” have their work cut out for them in 2008 and beyond. It is pretty much a foregone conclusion that defense spending will increase this year.