Aerospace and Defense

M&A Year in Review

Automotive and Mobility

We advised Bernhard Capital Partners (BCP) on its... Read more

We advised Bernhard Capital Partners (BCP) on its acquisition of Duotech Services, Inc., a leading provider of services for radar and related systems.

The acquisition supports BCP’s mission to build a platform that will deliver differentiated services across the full lifecycle of mission-critical systems.

Lawyers in our Washington, D.C. and Northern Virginia offices led the transaction, with support from our Denver, London, Miami, New York, and Philadelphia offices and our banking, employment, intellectual property, litigation, private equity, public procurement, real estate, regulatory, and tax practices.

We advised Lockheed Martin Corporation on... Read more

We advised Lockheed Martin Corporation on numerous transactions, including its investment in and strategic collaboration with HawkEye 360, a leading defense technology company for space-based radio frequency (RF) data and analytics.

The collaboration will develop end-to-end remote sensing solutions, with a particular focus on delivering sophisticated RF intelligence systems globally.

Lawyers in our Baltimore office led the transaction, with support from our Philadelphia, San Francisco, and Washington, D.C. offices and our employee benefits, employment, intellectual property, international trade, public procurement, and real estate practices.

We advised Orbit Fab, a leading provider of... Read more

We advised Orbit Fab, a leading provider of on-orbit refueling services, on its US$28.5 million Series A financing round led by 8090 Industries.

The milestone funding round will allow Orbit Fab to accelerate fuel sales and deploy fuel delivery and storage infrastructure in GEO, LEO, and VLEO orbits.

Lawyers in our Washington, D.C. office led the transaction, with support from our Northern Virginia office and our private equity practice.

We advised Ventiga Capital, a European private... Read more

We advised Ventiga Capital, a European private equity firm, on its sale of Infare, a premier provider of competitor air travel data, to OAG, a leading data platform for the global travel industry.

The combined entity, valued at over US$500 million, will establish a comprehensive, market-leading end-to-end data platform to serve mission-critical air travel intelligence needs around the world.

Lawyers from our private equity team in London advised on the transaction.

Sector performance

In 2023, overall M&A activity in the aerospace and defense sector was relatively flat. Although aerospace activity continued a downward trend, the decline was largely offset by increased defense-related activity.

Increased government defense spending and supply chain considerations in response to geopolitical uncertainties drove this activity for defense companies. Demands for AI, advanced sensing capabilities, cybersecurity, government-funded space endeavors, hypersonics, and unmanned aircraft systems further fueled M&A in the sector.

Hogan Lovells activities

Our Aerospace and Defense team helped clients address AI and cybersecurity risks and opportunities, cross-border disputes and investigations, foreign direct investment regimes, international trade concerns, and public procurement- and national security-related challenges.

We successfully launched the Hogan Lovells National Security podcast, featuring subject matter experts on hot topics, such as critical minerals, hypersonics, and nuclear technology. Our monthly Aerospace and Defense Insights publication covered developments ranging from cybersecurity to export controls and outbound investment screening.

Hogan Lovells has a highly acclaimed regulatory practice working with an impressive client roster comprised of airlines, airports, and aviation industry manufacturers, as well as private equity firms and financial institutions.”

Chambers USA, 2023