It's a great time to be a shareholder in United Technologies (NYSE: UTX). Last week, the company's stock touched a 52-week high, buoyed by a first-quarter earnings report that showed revenues rising in all three of the company's business segments. Profits grew as well, and management predicted more of the same as 2011 floats along, raising guidance for the year. To top it all off, on Thursday, the company announced a deal that will help it fulfill these promises.

UTC inked a contract to provide Turkey with 109 T-70 helicopters (a variant of the venerable Black Hawk), and gave Turkey the option of purchasing 12 more later on. Initially, the contract will be valued at $3.5 billion, but over time it could prove even more valuable. According to Turkey's defense minister, the country aims to eventually increase its order to 600 helos -- suggesting a potential $19 billion in additional revenues for UTC.

Knocks and pings
Possible knock-on effects of this deal are double: First, Turkey's plan suggests it may intend to replace and retire other models from its hodgepodge helo fleet, which includes American Hueys, French Cougars, and Russian Mi-17s. So what's good news for UTC could be bad news for rival helo makers, such as Huey manufacturer Textron (NYSE: TXT).

Meanwhile, closer to home, the fact that Turkey chose UTC over rival AgustaWestland could influence the competition to build President Obama's new helicopter. AgustaWestland is allied with Boeing (NYSE: BA) in that contest, and competing with UTC and partner Lockheed Martin (NYSE: LMT). Advantage: UTC/Lockheed.

Who's got the best deals in aerospace stocks? Foolish Rising Star Anand Chokkavelu, that's who. Read all about his latest picks here.

The Fool owns shares of Lockheed Martin and Textron, but Fool contributor Rich Smith does not own shares of any company named above. The Motley Fool has a disclosure policy.

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