VRC is proud to release its latest Industry Report. The report provides a concise, insightful update on the Aerospace & Defense industry including recent transactions, market multiples, company performance and purchase price allocation percentages.

Industry Highlights

• On February 13, 2022, Lockheed Martin announced that it had terminated
  its agreement to acquire Aerojet Rocketdyne. The decision to terminate the
  agreement follows the U.S. FTC lawsuit seeking to block the acquisition. In
  September of 2021, Lockheed Martin invested in orbital refueling startup
  Orbit Fab. Orbit Fab was recently awarded a $12 million deal to ensure its
  fueling interface works with U.S. military satellites. The funding includes $6
  million from the U.S. Air Force and Space Force and $6 million from private
  investors.
• On November 8, 2021, Mercury Systems, Inc. completed the acquisition of
  Avalex Technologies, a manufacturer and supplier of aerial surveillance
  mapping and video equipment, for $155 million. The acquisition will enable
  Mercury to address the growing demand for digitally converged solutions in
  the C4I and platform/mission management markets.
• On October 4, 2021, Arlington Capital Partners completed its acquisition of L3Harris Technologies’ Electron Devices and Narda Microwave-West divisions. The Company will now operate independently as Stellant Systems. Stellant provides RF amplification products for the space, electronic warfare, radar, medical, scientific, and industrial end markets.

Past Industry Updates

Aerospace & Defense: July 2021

Aerospace & Defense: May 2021