Q4 2023 Aerospace and Defense Industry Update

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GCG’s Q4 2023 A&D Industry Update provides an overview of the latest trends in the sector, including recent equity market performance, valuation multiples, and transaction activity.

Key findings include the following:

  • Backed by strong order activity, Airbus confirmed in November that monthly output of the A350 is expected to increase to 10 aircraft per month in 2026, up from an average of 4 per month in 2023. Boeing similarly aims to boost 787 output to 10 aircraft per month in 2025 or 2026
  • Southwest ordered 108 Boeing 737 Max 7s in support of its modernization and growth strategy
  • Business aviation usage in North America and Europe is now aligned with 2022 trends, according to industry data tracker WingX Advance, with activity levels 20 percent above pre-Covid levels
  • The National Defense Authorization Act (NDAA) was passed at $886 billion for 2024, however appropriations bills have not been agreed to, as government funding continues to operate under continuing resolution(s)

Click here for the full update.


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