2009 Annual and fourth-quarter review
Mergers & acquisitions activity in the global aerospace & defence industry
The fast descent of deal values in aerospace and defence (A&D) spurred by recession and the banking crisis of 2008 continued into 2009 with the first quarter of the year seeing a near-stalling of deal value. Since that time, deal values have revived but small deals continue to dominate the sector’s activity, according to ‘Mission Control’, PwC’s annual review of merger and acquisition activity in the global A&D industry.
However, deal activity, as measured by the total number of deals, has stayed buoyant at near record levels as companies limit their acquisition budgets but continue to take advantage of opportunities to make small but strategic purchases.
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