Aerospace & Deence Deals
Ater fying high inprevious years,aerospace and deence(A&D) deal-makingdescended ast in 2008.Indeed, the last threemonths o the year sawactivity virtually dry upas concerns about thenancial and economicbackground worsened,civil aviation overcapacityears hardened and the outlook or deencesector spending remained uncertain. Aerospace & Deence Deals 2008 reviewsdeal activity in the A&D industry. The report isthe latest edition in our annual series on deal-making in the sector, previously titled FlyingHigh. The report is one o a range o dealspublications rom PricewaterhouseCoopers,covering sectors including mining, metals,renewable energy, power, oil & gas as well as A&D. Together the amily o deals reports providea comprehensive analysis o M&A activity acrossindustries worldwide.We examine both the rationale behind the overalltrends and look at the key individual deals. Welook at the year under review, the context othe preceding years, and ahead to the uturedirection o deal-making in the sector. We alsohighlight, in our deal dialogue panels, some othe critical issues or companies engaging indeal activity within the sector. Drawing on ourglobal experience as an adviser to aerospace &deence industry M&A players, our commentaryaddresses all key markets in the sector.Looking ahead, we examine the eect o a moreuncertain economic outlook on deal-makingin the sector. We look at the imperatives thatwill continue to underpin activity as well asthe actors that will inhibit deal-making. Ourconclusion is that A&D deal activity will remainsubdued and that companies are most likelyto adopt a ‘wait and see’ attitude until keyconcerns about growth and nancing havebeen addressed.