Aurignac Finance is pleased to present the Aerospace & Defense market review covering the 4th quarter of 2025.
We are pleased to share with you our A&D market report covering Q4 2025. This 11th edition of our report gave us the opportunity to look back at what happened in 2025 and how 2026 should look like, especially regarding M&A. With strong drivers supporting the demand in each area in A&D, 2025 has been very dynamic in M&A and fundraising and 2026 should continue to be a very active year for all of us. From our perspective, we are very enthusiastic with an increasing number of prospects and ongoing projects in A&D.
In addition to the usual sections updated for Q4 2025 (EU M&A transactions, Update on a selection of listed peer groups, Aurfi EU and US A&D stock index) this edition includes the following analyses:
- In-depth #1 – The French Defense Industry at a Glance
- In-depth #2 – Overview of the French maintenance in operational condition (MOC) industry
- In-depth #3 – Defense challenges for French SMEs and mid-sized companies
- In-depth #4 – The challenges of transforming the European defense industry
- In-depth #5 – 2025 deal summary
To receive the full version, send a mail to Raphaël Brenier at r.brenier@aurfi.com


