A&D Weekly News & Transactions - Week 27

Industry Headline News

UK Prime Minister Pledges Near $105B Defense Budget by 2029
June 30, 2026 - The UK government announced that annual defense spending will increase to nearly £80 billion ($105 billion) by 2029, supported by an additional £15 billion in funding. The new Defense Investment Plan includes funding for drone capabilities, nuclear deterrence, sixth-generation fighter development through the Global Combat Air Programme (GCAP), and the purchase of 12 F-35A fighter jets. The plan also outlines investments in defense exports and broader military modernization over the next decade. (Breaking Defense)

AeroVironment Skyrockets 19% as Dronemaker Capitalizes on Defense Spending Surge
June 30, 2026 - AeroVironment reported fiscal fourth-quarter revenue of $642 million, more than double the prior year, while its funded backlog increased 65% to $1.2 billion. The company attributed the growth to strong demand for autonomous systems and continued expansion of its manufacturing capacity. AeroVironment also said recent acquisitions contributed $282.3 million in quarterly revenue as it positions for increased U.S. defense spending on drone technologies. (CNBC)

SAS Announces Order For Up To 40 Airbus A330 Aircraft
June 30, 2026 - Scandinavian Airlines (SAS) has agreed to acquire up to 40 Airbus A330 aircraft, including 18 firm orders for A330-900s, options for 10 more, and 12 leased A330-300s. The leased aircraft will support near-term growth, while the new A330-900s will expand the airline’s long-haul fleet beginning in the 2030s. The agreement is valued at more than $10 billion at list prices and marks the largest fleet investment in SAS’s history. (Simple Flying)

Poland Awards $4.8B A26 Submarine Deal to Saab
June 29, 2026 - Poland has signed a $4.8 billion contract with Saab to purchase three A26 submarines for its Navy, with deliveries scheduled through 2038. The submarines will be equipped to support naval and special operations missions and will be capable of deploying drone swarms to help protect critical infrastructure and Poland’s Baltic coastline. As part of the agreement, Saab will also help establish submarine maintenance, repair, and overhaul capabilities in Poland. (Defense News)

Weekly Transaction Review

No.	Parties Involved	Transaction Metrics			Location	Segment
	Target [Parent] Acquirer [Parent]	Price ($M)	Price/ Revenue	Price/ EBITDA	Target	Target
1	Iridium Communications Rocket Lab	$8,000.0	9.1x	16.2x	McLean, VA	Satellite, Satellite Services & Space Systems
2	Premier Forge Group [Wynnchurch Capital] H.I.G. Capital	-	-	-	Portland, IN	Machined & Cast Parts
3	Able Tool & Planet Products Beehive Industries	-	-	-	Cincinnati, OH	Machined & Cast Parts
4	Meteor Aerospace VisionWave	$40.0	-	-	Airport City, Israel	Unmanned Vehicles
5	Avantus Aerospace [Auctus Industries & Inflexion Private Equity] Novaria [Arcline]	-	-	-	Valencia, CA	Machined & Cast Parts
6	Military Services Australia Wrist Ship Supply [JF Lehman]	-	-	-	Murarrie, Australia	Navy/Maritime

No.	Target Descriptions
1	Iridium is a provider of global satellite voice and data communications solutions for private sector and U.S. federal government aerospace and defense markets. The company's platform has the unique ability to reach all the world's remote areas, including the airspace, oceans, and the many underdeveloped parts of the globe that currently have no communications systems.
2	Premier Forge provides high-value, complex forgings for private sector and U.S. federal government aerospace, construction, defense, and oil & gas markets. The company produces forgings from 5 pounds up to 400 pounds in both long and short runs using carbon, alloy, high-temperature, and corrosion-resistant alloys. Premier Forge's capabilities include comprehensive forging processes complemented by in-house design and engineering, material expertise, rough and finish machining, onsite heat treating, and certification.
3	Able Tool is a provider of precision machining, fabrication, electromechanical assembly, and manufacturing integration services for aerospace, defense, and industrial markets. Planet Products provides specialized metal finishing and surface treatment services for aerospace and defense components.
4	Meteor Aerospace develops and manufactures unmanned aerial systems, unmanned ground vehicles, loitering munitions, and integrated defense technologies for military and homeland security applications. The company supports ISR, precision strike, border security, and autonomous operations through advanced platforms, mission systems, and command-and-control capabilities.
5	Avantus is a manufacturer of C-class components as well as standard and high performance non-metallic seals and gaskets for private sector and U.S. federal government markets. The company specializes in engineered shims, solid fillers, and detail parts used to manage critical gaps during aircraft production, as well as a range of specialty fasteners, including captive screws, structural bolts, headed pins, and complex engine fasteners.
6	Military Services Australia is a provider of husbanding and maritime logistics services for private sector, international, and U.S. federal government defense and naval markets.