{"id":27480,"date":"2018-10-25T16:44:31","date_gmt":"2018-10-25T16:44:31","guid":{"rendered":"https:\/\/one.sightlinemg.com\/defensenews\/uncategorized\/2018\/10\/25\/will-increased-defense-spending-lead-to-more-industry-mergers\/"},"modified":"2026-08-07T22:17:12","modified_gmt":"2026-08-07T22:17:12","slug":"will-increased-defense-spending-lead-to-more-industry-mergers","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/defensenews\/industry\/2018\/10\/25\/will-increased-defense-spending-lead-to-more-industry-mergers\/","title":{"rendered":"Will increased defense spending lead to more industry mergers?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">WASHINGTON \u2014 Following a record year for mergers and acquisitions in the aerospace and defense industry, activity in the sector is strong, despite a fall from<a href=\"https:\/\/www.defensenews.com\/industry\/2018\/01\/25\/2017-surpasses-aerospace-defense-deal-record-by-5-billion\/\" target=_blank> last year\u2019s cloud-nine highs<\/a>, according to a report from PricewaterhouseCoopers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The value of 2018 industry deals to date is $30.3 billion, nearly half the value at the same time last year, but still 48 percent above the $21.3 billion, 10-year annual deal average, the PwC report said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Deal volume and average deal size are both down from this time last year, 18 and 41 percent respectively, to 290 deals, averaging $197.1 million. Some of this disparity can be accounted for by the lack of a monster, blockbuster deal like <a href=\"https:\/\/www.defensenews.com\/industry\/2017\/09\/05\/united-technologies-cements-30b-deal-to-buy-rockwell-collins\/\" target=_blank>United Technologies Corporation\u2019s acquisition of Rockwell Collins<\/a> for $30 billion last September.<\/p>\n\n\n\n<div class=\"infogram-embed\" data-id=\"ea644fe0-cac2-40bc-94ed-6eb04698ea14\"\ndata-type=\"interactive\" data-title=\"Aerospace and defense deal value, volume\"><\/div>\n<script>\n  !function(e,t,n,s){var i=\"InfogramEmbeds\",o=e.getElementsByTagName(t)[0],d=\/^http:\/.test(e.location)?\"http:\":\"https:\";if(\/^\\\/{2}\/.test(s)&&(s=d+s),window[i]&&window[i].initialized)window[i].process&&window[i].process();else if(!e.getElementById(n)){var a=e.createElement(t);a.async=1,a.id=n,a.src=s,o.parentNode.insertBefore(a,o)}}(document,\"script\",\"infogram-async\",\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\");\n<\/script>\n\n\n\n<p class=\"wp-block-paragraph\">Unlike last year\u2019s four \u201cMegadeals\u201d ($5 billion-plus), only <a href=\"https:\/\/www.defensenews.com\/industry\/2018\/04\/03\/general-dynamics-completes-csra-acquisition\/\" target=_blank>General Dynamics&#8217; acquisition of CSRA<\/a> qualifies so far in 2018.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the lack of any high-value transactions in the third quarter, one notable move is Boeing\u2019s announced agreement to acquire 80 percent of Embraer\u2019s commercial business for $3.8 billion, the PwC report emphasized.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The report noted that a higher focus on information technology infrastructure, cybersecurity, cloud computing and C4ISR is pushing a number of nontraditional and financial buyers to target diversified IT service organizations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The report attributes decreased merger and acquisition activity in the sector to \u201ca slowdown in new orders for aerospace [original equipment manufacturers] and the absence of a significant number of large transactions.\u201d This relatively tame level of activity may be expected to increase as industry becomes \u201cdriven by an increased focus on emerging technologies, intensified competition and [a] rise in government spending to modernize the IT infrastructure,\u201d said Bob Long, U.S. aerospace and defense deals leader for PwC.<\/p>\n\n\n\n<div class=\"infogram-embed\" data-id=\"6f0c8b50-d11e-411c-ac59-07e6c21431db\"\ndata-type=\"interactive\" data-title=\"Deals by region\"><\/div>\n<script>\n  !function(e,t,n,s){var i=\"InfogramEmbeds\",o=e.getElementsByTagName(t)[0],d=\/^http:\/.test(e.location)?\"http:\":\"https:\";if(\/^\\\/{2}\/.test(s)&&(s=d+s),window[i]&&window[i].initialized)window[i].process&&window[i].process();else if(!e.getElementById(n)){var a=e.createElement(t);a.async=1,a.id=n,a.src=s,o.parentNode.insertBefore(a,o)}}(document,\"script\",\"infogram-async\",\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\");\n<\/script>\n\n\n\n<p class=\"wp-block-paragraph\">Regional trends remained consistent with previous years\u2019 activity, with North America-based firms remaining the most active acquirer. In the last quarter, companies there contribute 80 percent of deal value and 31 percent of deal volume, the report said. The report also identified the Asia-Pacific region as an important area in future commercial aerospace transactions due to fleet expansion and continued capital inflows to aircraft leasing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The value of 2018 industry deals to date is $30.3 billion.<\/p>\n","protected":false},"author":7,"featured_media":26559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_acf":"","_yoast_wpseo_primary_category":12,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_smg_distribution_targets":{"8":{"categories":["govcon","home","daily-brief","newsletters"],"primary_category":"govcon"}}},"categories":[160,11,12,36],"tags":[],"coauthors":[1233],"class_list":["post-27480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news-roundup","category-global","category-industry","category-newsletters"],"acf":{"subheadline":"","legacy_arc_id":"MHNK6725VNF5TOV3INQS5XASPY","arc_canonical_url":"\/industry\/2018\/10\/25\/will-increased-defense-spending-lead-to-more-industry-mergers\/","remove_feature_photo":false,"is_sponsored":false,"subtype":"","redirect_url":"","disable_inline_ads":false,"native_logo_pretext":"Presented 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