PwC: Global Aerospace and Defense M&A Deal Value Reached $11.1B in Q3 2019

Jeff Brody

A new PwC report says the value of global mergers and acquisitions in the aerospace and defense sector was $11.1B in the third quarter of 2019 and the total deal value for year-to-date 2019 was $80.3B, increasing by 2.8x when compared with YTD 2018.

PwC said the global A&D sector recorded a total of 92 deals in Q3 2019 and the average deal size for the quarter was $327.4M.

The total deal volume for YTD 2019 was 316, reflecting an 8 percent drop when compared with YTD 2018.

“Confidence in deal making continues to be bolstered by a strong defense spending profile and steady growth in passenger traffic supporting commercial backlogs. Our view is that these factors will drive M&A in the final quarter of 2019 and beyond,” said Bob Long, U.S. aerospace and defense deals leader at PwC.

PwC listed YTD 2019 transactions in the defense and aerospace market, including the proposed merger between Raytheon (NYSE: RTN) and United Technologies Corp. (NYSE: UTX) and Advent International’s move to acquire Cobham through its AI Convoy Bidco subsidiary.

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