A&D M&A Surges: Q1 2026 Deal Value Hits $47.1B, Up 37% YOY
Boston – September 15, 2026 -- Aerospace & Defense M&A deal value jumped 37% year-over-year in the first quarter of 2026 to $47.1 billion in disclosed enterprise value, according to Capstone Partners' annual Aerospace, Defense, Government & Security (ADGS) Industry M&A Report.
Full-year 2025 deal count rose 10.3% while disclosed enterprise value surged 73.1%
Aerospace & Defense M&A expanded throughout 2025 despite a volatile macroeconomic and geopolitical backdrop that dampened dealmaking elsewhere. Valuations averaged 3.0x EV/Revenue and 11.4x EV/EBITDA for the year, reflecting sustained buyer appetite across manufacturing, maintenance and leasing segments amid depressed aircraft production levels.