Aerospace and Defense

We advised Airbus, a global aerospace company, on its… Read more

We advised Airbus, a global aerospace company, on its acquisition of Aerovel and Aerovel's unmanned aerial system, Flexrotor, designed for intelligence, surveillance, target acquisition, and reconnaissance (ISTAR) missions at sea and over land.

The acquisition strengthens the Airbus portfolio of tactical unmanned solutions.

Lawyers in our Washington, D.C. office led the transaction, with support from our Brussels, Denver, New York, and Philadelphia offices and our antitrust, employment, environment, intellectual property, international trade, litigation, privacy and cybersecurity, public procurement, real estate, regulatory, and tax practices.

We advised Lockheed Martin on its… Read more

We advised Lockheed Martin, a global defense technology company, on its US$450 million acquisition of Terran Orbital (NYSE: LLAP), a global leader of satellite-based solutions primarily supporting the aerospace and defense industries.

The acquisition broadens Lockheed Martin’s product offering with Terran Orbital’s high-performing modular space vehicle designs.

Lawyers in our Washington, D.C. and New York offices led the transaction, with support from our Baltimore, Denver, Houston, Los Angeles, and Northern Virginia offices and our banking, capital markets, employee benefits, employment, intellectual property, real estate, regulatory, restructuring, and tax practices.

We advised National Space Company.. Read more

We are advising National Space Company (d/b/a the Neo Space Group), a Public Investment Fund-owned company and Saudi Arabia’s leading commercial space services provider, on its pending acquisition of UP42 GmbH, a next-generation earth observation digital platform, from Airbus Defence and Space GmbH. 

The acquisition supports NSG’s mission to meet Saudi Arabia’s growing demand for advanced earth observation and geospatial solutions.

Lawyers in our Hamburg office led the transaction, with support from our Berlin, Brussels, Düsseldorf, Munich, Northern Virginia, and Riyadh offices and our antitrust, employment, infrastructure and projects, intellectual property, real estate, regulatory, and tax practices.

We advised Redwire Corporation on its acquisition of... Read more

We advised Redwire Corporation, a leader in space infrastructure for the next generation space economy, on its acquisition of Hera Systems, Inc., a privately held spacecraft development company focused on developing a new class of high-performance spacecraft to support the evolving requirements for national security missions.

The acquisition expands Redwire’s spacecraft portfolio to offer mission-critical capabilities in geostationary orbit.

Lawyers in our Washington, D.C. office led the transaction, with support from our Los Angeles and Northern Virginia offices and our employment, infrastructure and projects, intellectual property, international trade, regulatory, restructuring, and tax practices.

Sector performance

M&A activity in the aerospace and defense sector remained flat in 2024 due in large part to continued regulatory scrutiny, elevated interest rates, and geopolitical uncertainty. Despite these headwinds, the AI revolution, the reshaping of supply chains, and increased demand for cybersecurity, unmanned aircraft systems, and government and private sector space initiatives propelled deal flow.

Venture capital investment into the sector increased dramatically to an estimated US$8.5 billion in 2024. In response, traditional aerospace and defense companies with strong balance sheets invested in innovation and talent to respond to the increased activity of VC-backed disruptors.


Hogan Lovells activities

In 2024, our Aerospace and Defense team supported clients in navigating generative AI opportunities, cybersecurity risks, and cross-border disputes. We provided guidance on evolving foreign direct investment regimes, trade sanctions compliance, public procurement, national security, and responses to supply chain and sustainability challenges shaping the sector.

We partnered with the U.S. Chamber of Commerce for the annual Global Aerospace Summit, showcasing thought leadership on nuclear power use in space. Our National Security podcast covered topics like AI, defense, EU strategy, and cryptocurrency. We also continued to publish Aerospace and Defense Insights, offering analysis on key industry trends.

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, 2024

280+

Aerospace and Defense 
lawyers

Practice Group of the Year

Government Contracts
Law360, 2024

Four Pillars of our M&A Group

Technical excellence

Executing transactions effectively

Sector knowledge

Understanding issues in regulated industries

Global reach

Worldwide scope, local know-how

Full-service capabilities

Subject matter experience

M&A Year in Review

Expander

Dear Clients and Friends,

Welcome to the 2024 edition of our Hogan Lovells M&A Year in Review!

Each year, we publish the M&A Year in Review to express our gratitude to you — our clients and friends — for the opportunity to work together and for the successes we have shared. We hope you enjoy our review of dealmaking in 2024 and our outlook for M&A in 2025.

During 2024, M&A transaction values increased across the world, recovering from their decade-low levels in 2023, to reach an aggregate deal value of approximately US$3.5 trillion. These increases were attributable largely to a 25% rise in sponsor-related dealmaking and a return of megadeals. 

M&A transaction volumes improved during the third and fourth quarters of the year, following a lackluster first half of the year. This resulted in an annual global increase of 1.5%, even amidst a 3% decline in the United States.

Across sectors, technology M&A reasserted itself as the market leader by value and volume in 2024, rebounding from 2023 lows as investor demand for AI, digital innovation, and machine learning increased.

Our M&A Group is grateful to have worked with you over the course of the past year. Your transactions propelled Hogan Lovells to more than 30 M&A league table rankings worldwide, including top rankings for Global M&A and across Europe, France, Germany, Italy, the Nordics, Spain, the United Kingdom, Canada, Latin America, Asia Pacific, and China.

We enter 2025 with measured optimism for substantial M&A activity, based upon strong corporate fundamentals for strategics, significant capital held by sponsors, and reduced regulatory intervention, and in anticipation of compromises to be reached across the economic and diplomatic policies of new administrations. Our perspectives are set forth within our 2025 M&A Outlook here.

We appreciate the trust that you continue to place in us, and we look forward to supporting you on your M&A transactions in the year ahead.

Best wishes for continuing success in 2025,

The Hogan Lovells M&A Group