Bob Lang and Tyler Herriage say the selloff across defense stocks may be creating a buying opportunity in legacy industrial names. Despite strong earnings and long backlogs, GE (GE) and RTX (RTX) remain under pressure, while Northrop Grumman (NOC), General Dynamics (GD), and L3Harris (LHX) stand to benefit from rising defense spending. The panel also looks at Boeing (BA) and the long‑term impact of innovation as the industry prepares for a massive jump in defense budgets.