A&D Weekly News & Transactions - Week 30

Industry Headline News

Northrop Grumman CEO Says U.S. Air Force is Weighing Faster B-21 Production and a Larger Raider Bomber Program by Year-End
July 25, 2026 - Northrop Grumman said the U.S. Air Force is evaluating whether to accelerate production of the B-21 Raider and increase the planned fleet beyond 100 aircraft. The Air Force is expected to complete its review by the end of 2026. Northrop Grumman also said it is expanding production capacity to support increased output of the B-21 and other defense programs. (Defence Industry Europe)

Embraer’s Backlog Hits Record $34.5B in the Second Quarter, Rising 16%
July 24, 2026 - Embraer reported a record firm order backlog of $34.5 billion at the end of the second quarter, an increase of 16% from a year earlier. The backlog was led by commercial aviation, followed by executive aviation, defense, and services and support. The company also delivered 65 aircraft during the quarter, up 7% compared with the same period last year. (Reuters)

Defense Tech Company Anduril in Talks to Raise Funding at About $100B Valuation
July 24, 2026 - Anduril is reportedly in discussions with investors for a new funding round that could value the defense technology company at approximately $100 billion. The talks follow strong growth in the company's military business, including reported 2025 revenue of $2.2 billion and continued expansion of its drone, missile, and software portfolio. Anduril said no decisions have been made regarding future financing and that it continues to evaluate opportunities to support the company's growth. (Reuters)

Leasing Firm SMBC Orders 200 Planes from Airbus and Boeing
July 20, 2026 - SMBC Aviation Capital has placed orders for 200 narrowbody aircraft, purchasing 100 Boeing 737 MAX jets and 100 Airbus A320neo family aircraft at the Farnborough Air Show. The order is intended to support long-term fleet growth and provide airline customers with a steady pipeline of new, fuel-efficient aircraft into the 2030s. Boeing also announced that Riyadh Air exercised options for 28 additional 787 Dreamliners, while Airbus confirmed an order for six more A350-1000 aircraft from the airline. (Yahoo Finance)

Weekly Transaction Review

No.	Parties Involved	Transaction Metrics			Location	Segment
	Target [Parent] Acquirer [Parent]	Price ($M)	Price/ Revenue	Price/ EBITDA	Target	Target
1	Walker Precision Engineering Karman Space & Defense	$94.0	-	-	Glasgow, United Kingdom	Machined & Cast Parts
2	Aydin Displays [Elbit Systems] Innovative Solutions & Support	$24.5	1.5x	-	Birdsboro, PA	Defense Electronics
3	HRL Labs [General Motors & Boeing] IBM	-	-	-	Malibu, CA	Defense Electronics
4	GracoRoberts [CM Equity] Tinicum Capital	-	-	-	Arlington, TX	Distribution
5	Pentaxia Axvik Group	-	-	-	Derby, United Kingdom	Composites
6	Vision Aerial Mobix Labs	$15.0	-	-	Bozeman, MT	Machined & Cast Parts
7	CTMAVIO Mare Group	$10.3	1.1x	2.8x	Milan, Italy	Unmanned Vehicles

No.	Target Descriptions
1	Walker Precision is a provider of precision CNC machining, fabrication, and complex mechanical assembly services for private sector and allied government energy, missile defense, and space markets. Its capabilities include precision machining, fabrication, mechanical assembly, inspection, and supply chain management.
2	Aydin Displays is a developer and manufacturer of rugged display systems and visualization technologies for private sector, international, and U.S. federal government aerospace, defense, and naval markets. The company designs and produces rugged flat panel displays, mission displays, video processing systems, and human-machine interface (HMI) solutions engineered for operation in harsh and mission-critical environments.
3	HRL specializes in research into artificial intelligence, microelectronics, quantum technologies, advanced sensors, electronic warfare, aerospace systems, and advanced materials for defense, intelligence, aerospace, and commercial markets. HRL is ISO 9001:2015 and AS9100D certified for the fabrication and testing of application-specific integrated circuits (ASIC) utilizing a heterojunction bipolar transistor (HBT) semiconductor process for aerospace applications.
4	GracoRoberts is a distributor and value-added supply chain partner of chemical products and management services for the manufacture and MRO of commercial and military aircraft.
5	Pentaxia designs and manufactures advanced composite components and assemblies for aerospace, defense, automotive, and motorsport applications. The company provides vertically integrated design, tooling, component production, and finishing capabilities for technically complex, high-performance programs.
6	Vision Aerial is a designer and manufacturer of rugged drone systems designed to operate in contested environments for private sector and U.S. federal government aerospace, agriculture, defense, and environmental markets. The company's aircraft can carry interchangeable cameras and sensors—including high-resolution imaging, thermal imaging, LiDAR, optical gas imaging, multispectral sensing and precision mapping technologies—allowing one platform to support multiple mission profiles across real-world operations.
7	CTMAVIO manufactures precision engine, aircraft, and drone components for aerospace and defense applications. The company provides design, production, and certification capabilities for UAV engines and integrated aeronautical systems.