Mission control: Second-quarter 2015 aerospace and defense industry mergers and acquisitions analysis

August 2015
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Mission control: Second-quarter 2015 aerospace and defense industry mergers and acquisitions analysis

At a glance

Mission control is PwC's quarterly analysis of merger and acquisition (M&A) activity in the global aerospace & defense sector. It provides an overview of the most recent M&A results and our expectations for future deal activity.

Explore the data

Explore the data

Mission control is PwC's quarterly analysis of merger and acquisition (M&A) activity in the global aerospace & defense sector. It provides an overview of the most recent M&A results and our expectations for future deal activity.

Highlights of what this quarter's analysis revealed:

  • The A&D industry saw a drop in total deal value relative to the prior quarter.
  • However, the annual run rate is slightly above the prior year and the ten-year rolling average (with a $9 billion acquisition announced after quarter close).
  • A&D companies are actively splitting public sector and commercial units and divesting lower margin businesses, such as IT services.
  • The primes are consolidating or broadening leading positions in segments, allowing for focus on platforms.
  • Restructuring, divestitures and spin-offs also remain popular among A&D companies and diversified industrials.
  • High-growth markets, including cybersecurity, electronic warfare and UAVs continue to see strong deal activity.

Download the analysis to review all the key trends from 2Q15.

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