A&D Weekly News & Transactions - Week 12

Industry Headline News

Trump Invokes Emergency Powers with $23 Billion in Gulf Arms Sales as Iran War Wages on: WSJ Report
Mar. 20, 2026 - U.S. weapons sales to Middle Eastern nations are increasing sharply amid ongoing tensions involving Iran and Israel. The deals include advanced missiles, air defense systems, and precision-guided munitions aimed at strengthening regional security partnerships. The surge reflects both heightened demand for military capabilities and continued U.S. efforts to support allies while maintaining strategic influence in the region. (CNBC)

Anduril: New Factory Will Start Making Drone Wingman in Just ‘Days’
Mar. 18, 2026 - Anduril Industries announced that its new manufacturing facility in Ohio will begin producing autonomous drone “wingman” systems within days of opening. The drones are designed to operate alongside crewed aircraft, providing support in surveillance, targeting, and combat missions. The rapid production timeline highlights Anduril’s focus on scalable, software-driven defense systems and its push to accelerate deployment of autonomous capabilities. (Defense One)

F-47 Won’t Be Available Until Mid-2030s, Top Lawmaker Says
Mar. 17, 2026 - The U.S. Air Force is aiming to field its next-generation F-47 fighter aircraft by the mid-2030s, according to a senior lawmaker. The platform is expected to incorporate advanced stealth, autonomous systems, and enhanced networking capabilities as part of the service’s future air dominance strategy. The timeline reflects ongoing efforts to modernize the fleet and maintain an edge over near-peer competitors in contested air environments. (Air & Space Forces Magazine)

US Expands Golden Dome Cost Estimate to $185 Billion, Enlists Top Defense Firms
Mar. 17, 2026 - The United States has increased the projected cost of its “Golden Dome” missile defense initiative to $185 billion, while bringing in leading defense contractors including Lockheed Martin and Northrop Grumman. The program aims to enhance homeland missile defense through advanced sensors, interceptors, and integrated command systems. The updated estimate underscores the scale and complexity of next-generation missile defense as threats from hypersonic and ballistic weapons continue to evolve. (Reuters)

Atlas Air Worldwide Becomes Airbus’ Largest A350F Freighter Customer With an Order for 20 Aircraft
Mar. 16, 2026 - Atlas Air Worldwide has placed an order for 20 A350F freighter aircraft, making it the largest customer for the cargo variant of the Airbus A350F. The deal strengthens Airbus’ position in the growing air cargo market as operators seek more fuel-efficient, long-range freighters. The A350F is designed to meet evolving environmental standards while offering increased payload and range capabilities, positioning it as a next-generation replacement for older cargo aircraft. (Airbus)

Weekly Transaction Review

No.	Parties Involved	Transaction Metrics			Location	Segment
	Target [Parent] Acquirer [Parent]	Price ($M)	Price/ Revenue	Price/ EBITDA	Target	Target
1	ESAero AeroVironment	$200.0	-	-	San Luis Obispo, CA	Unmanned Vehicles
2	Twenty8 Technology RedHawk Federal Solutions	-	-	-	Falls Church, VA	Government Services, IT Services and Software
3	Clean Science Astro Pak [The Stephens Group]	-	-	-	Fremont, CA	Specialty Defense Systems and Services
4	Chester Hall Belrise Industries	$17.6	0.7x	6.0x	London, United Kingdom	Machined & Cast Parts
5	E-Max Electro Switch	-	-	-	Englewood, CO	Defense Electronics
6	Aero Fasteners Poggipolini [Kartesia Management]	-	-	-	Haryana, India	Machined & Cast Parts

No.	Target Descriptions
1	ESAero is a developer of electric and hybrid propulsion-powered unmanned aircraft systems (UAS) and advanced air mobility (AAM) platforms for private sector and U.S. federal government aerospace, defense, and space exploration markets. The company specializes in conceptual air vehicle designs, electric and hybrid propulsion system development and qualification, aircraft modifications, sub-scale technology demonstrators, and rapid system prototyping.
2	Twenty8 is a provider of mission-focused systems engineering, digital transformation, and cyber-enabled IT services for private sector and U.S. federal government aerospace and defense markets. The company specializes in SETA support, cloud migration, DevSecOps, and agile program execution.
3	Clean Sciences provides specialized precision cleaning for semiconductor equipment manufacturers, aerospace & defense, medical, biomedical, optics, and electronic industries. The company provides precision cleaning services including ultrasonic cleaning, high-purity solvent and detergent processes, chemical etching, and hot RO/DI water rinsing, with packaging performed in ISO Class 5 and 6 cleanroom environments.
4	Chester Hall manufactures precision machined components and assemblies for aerospace and defense applications requiring tight tolerances and complex geometries. The company supports production programs through advanced CNC machining, inspection, and quality systems aligned with stringent aerospace requirements.
5	E-Max is a provider of control and monitoring solutions for electrical substation equipment in private sector and U.S. federal government markets. The company specializes in trip indication relays, digital fault recorders, and battery monitors.
6	Aero Fasteners manufactures aerospace-grade fasteners and precision hardware used in structural and engine applications for commercial and defense aviation platforms. The company supports OEM and Tier supplier programs with controlled manufacturing processes, specialty materials, and quality systems aligned with aerospace certification requirements.