Mergers and Acquisitions (M&A) in Aerospace, Defense, and Security 2020 – Thematic Research

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

In this report, we look at merger and acquisition (M&A) activity in the aerospace, defense, and security (ADS) sector over the year. We also highlight potential future bid targets in the sector. Current concerns are dominated by the impact of the COVID-19 pandemic on the sector. Financial stresses for companies have increased this year, with revenues slashed and immediate cashflow concerns taking priority over pre-COVID-19 strategies. That creates opportunities for M&A as companies fail or look to divest units in order to survive. Recessions act as catalysts for change. The scale of the economic shock and its impact on demand will have long-lasting consequences for the sector.


As the data shows, in the 12 months to December 2020 the value of acquisitions in the ADS sector was $18.6bn, with mergers valued at $8.7bn. While that acquisition sum is down on 2019's value of $101.016bn, the volume of transactions tracked by GlobalData was down on 2019. The largest completed M&A deal announced in 2020 was the Lockheed Martin acquisition of Aerojet Rocketdyne Holdings for $4.4bn, subject to closing in 2021.

Reasons to Buy

Our thematic investment research product, supported by our thematic engine, is aimed at senior (C-Suite) executives in the corporate world as well as institutional investors. This thematic report analyses strategy, regulatory, legislative and policy changes, driving technologies, and identifies the primary actors in this complex space. Covering the impact of the pandemic to the consequent strategies within this space, this report serves as a solid guide through the M&A landscape and explains the factors at play.

Corporations: Helps CEOs in all industries understand the disruptive threats to their competitive landscape. With the shifting regulations due to the economic fallout of the COVID-19 pandemic, this report provides corporations with valuable insights into legislative and regulatory changes in a number of geographies, and their impact on M&A in the ADS space. Identifying the driving themes, the short medium and long term strategies and impacts of the pandemic, its economic impact, and M&A activity, this report provides a useful, current and explanatory guide to corporations operating anywhere in the ADS value chains, informing this complex and dynamic sector.

Investors: Helps fund managers focus their time on the most interesting investment opportunities in global Aerospace & Defense. This report provides key insights into M&A strategy in critical technology areas for investment, such as hypersonic technologies, space systems, high intensity warfare, artificial intelligence, and robotics. Coverage of short term responses to the COVID-19 pandemic, Medium term impact and long term trends make this report a useful tool in understanding both the pandemic and post-pandemic landscape. With potential acquisition targets in coming years highlighted and explained, this report provides valuable information to investors throughout the value chains in ADS.

Whilst most investment research is underpinned by backwards looking company valuation models, GlobalData’s thematic methodology identifies which companies are best placed to succeed in a future filled with multiple disruptive threats. Our unique differentiator, compared to all our rival thematic research houses, is that our thematic engine has a proven track record of predicting winners and losers.

Aerojet Rocketdyne
AirBoss of America
Alpine 4 Technologies
Signature Aviation
BSA Company
Fairbanks Morse
FLIR Systems
Huntington Ingalls Industries
Kratos Defense & Security Solutions
Lockheed Martin
Loral Space & Communications
M Line Holdings
Mahindra & Mahindra
McKean Defense Group
Mercury Systems
Mikros Systems
MMag Holdings
Pacific Architects and Engineers
Raytheon Technologies
Sabena Technics
SIA Engineering
Sky and Space Global
Spirit AeroSystems
Taewoong Logistics
Volatus Aerospace
5-D Systems
AeroTech Pro
Analytical Graphics
ARCH Global Precision
Blue Canyon Technologies
Braxton Science & Technology
By Light Professional IT Services
Centra Industries
Condition Monitoring Group
Elbit Systems of America
FL Technics
Flight Simulation Company
Genesys Aerosystems
Impossible Aerospace
Ironwave Technologies
Mingo Aerospace
Peraton Corp
Physical Optics
Racal Acoustics
Raptor Scientific
Sichuan Haite High-Tech
Sparton Corporation
Spear Research
Sunvair Aerospace
United Shipbuilding
Vympel Shipyard
Xi'an International Technology

Table of Contents

Executive summary

The impact of COVID-19 on the M&A market

Short-term responses

Medium-term impact on M&A

Long-term trends in M&A

Supply chain impacts and shifting recovery dynamics

UK National Security and Investment Bill

Technology Maturation

Offset requirements

M&A activity 2017-2020

Themes driving M&A in ADS

Hypersonic technologies

Space systems

High intensity warfare

Artificial intelligence and robotics

Industry analysis

Potential acquisition targets over the next five years


Public companies

Private companies

Sector scorecards

Defense sector scorecard

Our thematic research methodology

About GlobalData

Contact Us

Frequently asked questions

Mergers and Acquisitions (M&A) in Aerospace, Defense, and Security 2020 – Thematic Research thematic reports
Currency USD

Can be used by individual purchaser only


Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Mergers and Acquisitions (M&A) in Aerospace, Defense, and Security 2020 – Thematic Research was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Mergers and Acquisitions (M&A) in Aerospace, Defense, and Security 2020 – Thematic Research in real time.

  • Access a live Mergers and Acquisitions (M&A) in Aerospace, Defense, and Security 2020 – Thematic Research dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.