The aerospace and defense industry is a major driver of technological innovation and economic growth globally. As such, top investment banks play a crucial role in advising and financing companies in this strategic sector. This article provides an overview of 5 leading investment banks in the aerospace and defense sector based on their market share of completed M&A deals in 2020.
Morgan Stanley topped aerospace investment banking league tables in 2020
According to Refinitiv data, Morgan Stanley ranked 1st in the aerospace and defense sector with a 15.5% market share of completed M&A deals in 2020, having advised on 5 deals worth $4.7 billion. Notably, Morgan Stanley advised Raytheon on its $121 billion merger with United Technologies, forming Raytheon Technologies Corporation, one of the world’s largest aerospace and defense companies.
Goldman Sachs was the 2nd top aerospace investment bank in 2020
Goldman Sachs took the 2nd spot in the aerospace investment banking league tables with an 11.3% market share in 2020, working on 8 deals worth $3.5 billion. Goldman Sachs notably advised Woodward on its $6 billion merger with Hexcel, combining two leading suppliers of advanced materials for the aerospace and defense sectors.
JP Morgan ranked 3rd in aerospace investment banking deal volume
JP Morgan claimed 3rd place with a 10.2% share of completed aerospace and defense deals in 2020. It advised on 5 deals totaling $3.2 billion in value. JP Morgan notably worked with Raytheon Technologies on financing its acquisition of Blue Canyon Technologies, a provider of small spacecraft systems and components.
BofA Securities was the 4th top aerospace investment bank
Bank of America Merrill Lynch, known as BofA Securities, ranked 4th with a 9.6% share in 2020 after working on 5 aerospace and defense deals worth $3 billion. BofA Securities notably served as financial advisor to Woodward on its merger with Hexcel.
Barclays took 5th place among top aerospace investment banks
Barclays rounded out the top 5 with a 7.5% market share in 2020. It advised on 3 deals totaling $2.3 billion. Barclays served as financial advisor to Hexcel on its merger with Woodward, creating an integrated systems provider for aerospace and defense.
In 2020, Morgan Stanley, Goldman Sachs, JP Morgan, BofA Securities, and Barclays were the top 5 investment banks in the aerospace and defense sector by market share of completed M&A deals, providing strategic advice and capital to leading companies.