The nation may be fighting a $16 trillion deficit, but Romney says cutting military spending is just not an option to curb the growing debt.

Republicans have historically been more favorable toward defense spending, and analysts expect shares of companies like Boeing (BA), General Dynamics (GD), Raytheon (RTN), and Rockwell Collins (COL) to surge on a Romney victory.

"I wouldn't argue that Obama would be bad for the defense sector, especially over the long-term, because I don't think any president is really going to shift from the U.S. defense hegemony," said Carter Leake, senior equity analyst for the aerospace and defense sectors at BB&T Capital Markets. "But if Romney wins, I would expect a bigger, more aggressive and immediate pop for defense stocks."

- Last updated September 24 2012 07:51 AM ET