Huntington Ingalls Industries (NYSE: HII) isn't one of the top five biggest defense companies operating, but it is making a name for itself in the defense arena. It is getting that recognition, in part, by being the United States' only supplier of aircraft carriers and, in part, by having one of the nation's two shipyards capable of producing nuclear submarines.

With more investors worried about recession and about market volatility, now may be a good time to consider this defense stock because it could serve as a defensive measure in your portfolio with an eye toward steady growth and increasing dividends. While the bears seem out in full force in the markets at large, the United States still has a naval fleet to maintain and the development of new, more advanced defensive vessels never ends. That keeps naval vessel specialist Huntington Ingalls in the spotlight.

Huntington Ingalls benefits greatly from a three-sided approach that incorporates defense development, construction, and logistics. The Newport News, Virginia, operations develop and build top nuclear carriers and submarines, while the Ingalls division in Pascagoula, Mississippi, handles assault ships, surface vehicles, and non-nuclear vessels. The third segment, Technical Solutions, is spread out across multiple locations in 46 states and 50 countries and handles everything from logistics and fleet support to oil and gas deployment along with mission tracking and evaluation.

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Source Fool.com