As the aerospace world converges on Farnborough for this week’s air show, conventional wisdom is that it will be a story of two industries: a booming commercial aircraft sector flush with bulging order books, and a defense segment battered by government budget cuts and scrambling for new markets. But things are hardly that clear-cut. Here are a few questions to consider: • Do investors know something others don’t? The past 18 months have been filled with accounts of military ...

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