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Read the latest Aerospace & Defense Quarterly Report from Janes Capital Partners. The report provides topical coverage of the Aerospace & Defense industry, providing news briefs, developments of key platforms, analytics supporting M&A trends and an in-depth analysis of featured transactions and acquirers in the Aerospace & Defense industry. The Q3 2025 edition delves into the details and strategic drivers behind SGS's acquisition of Applied Technical Services (ATS), an update on active A&D acquirer Amphenol, and a look into the latest information on the Bombardier Global 8000.
Executive Summary
There were 112 A&D deals announced in Q3 2025, which was a decrease from the number of deals announced during Q2 2025.
Year-over-year quarterly transaction volume increased by 23.1% compared to the 91 deals announced during Q3 2024.
Average disclosed deal size during the quarter decreased to $437 million compared to $933 million during Q2 2025.
The most active segments in terms of number of M&A deals were:
- Government Services, IT Services and Software (19 deals)
- Machined & Cast Parts (19 deals)
- MRO & Logistics (11 deals)
- Defense Electronics (8 deals)
- Components & Subsystems (7 deals)
The top 3 segments in terms of disclosed transaction values were:
- Land Systems ($1,940 million)
- Composites ($1,825 million)
- Cybersecurity, Intelligence Services and Homeland Defense ($1,532 million)