What We're Reading

Digitalization Of MRO: The Legal Landscape

“You can’t open the newspaper these days without seeing another article about how the aviation industry is being transformed by digitalization and big data. Artificial intelligence and blockchain are also revolutionizing the way the MRO market operates and what it can offer to customers.”    

MRO Network (May 16, 2018)

Uber Details Path To Aerial Ridesharing On A Massive Scale

“Industry may be unsure whether it is a vision or a mirage, but Uber’s Elevate initiative is pushing hard across a wide front in an effort to advance urban air mobility from concept to reality as fast as possible.”

Aviation Week (May 17, 2018)

Business Aviation On The Cusp Of Recovery As The Economy Rebounds

“After years of repeated washouts, the business aviation outlook seems rosier. The industry may be at the beginning of a new period of growth. If this long-awaited return to prosperity occurs, it could help accelerate the fulfillment of new demand for lower-cost connectivity and significantly higher cruise speed.”

Aviation Week (May 15, 2018)

Booz Allen CEO: Strongest Market In 5 Years

“Booz Allen Hamilton is bullish on growth prospects for both its financial results and ability to boost headcount in support of that just as the uptick in federal budgets accelerates over the next four months. During the firm’s fourth quarter and year-end fiscal earnings call Tuesday, CEO Horacio Rozanski called the current environment ‘frankly, for my money, one of the best markets we’ve seen at least in the last five years.’”

Washington Technology (May 29, 2018)

The Line Between Big Tech And Defense Work

“For months, a growing faction of Google employees has tried to force the company to drop out of a controversial military program called Project Maven. More than 4,000 employees, including dozens of senior engineers, have signed a petition asking Google to cancel the contract.”

WIRED (May 21, 2018)

Perspective on Public Marketsa,b,1

Stock Price Performance – Last Twelve Months

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Most Significant Stock Price Movement – April 30th to May 31st

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Recent M&A Transactions2

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Notes

a.Current stock prices in USD as of 5/31/18

b.Aircraft OEMs: BA, BBD.B, EADS, ERJ

Aerospace Supply Chain & Aftermarket Support: AIR, ARNC, ATRO, B, BBA, DCO, ESL, GKN, HEI, HRX, HXL, KAMN, MAL, MGGT, MOG.A, ROLL, SAF, SNR, SPR, TDG, TGI, WAIR, WWD

Diversified Industrial: AME, CR, CW, ETN, GE, HON, PH, RR, TXT, UTX

Defense Prime Contractors: BA, BAE, EADS, GD, HO, HII, LMT, NOC, RTN

Defense Technologies: AVAV, CHG, CMTL, COB, CUB, ESLT, FLIR, HRS, KTOS, LLL, MRCY, TDY, ULE

Government Services: BAH, CACI, CSRA, EGL, KEYW, LDOS, MANT, SAIC, VEC

Diversified Services: ACM, BAB, FLR, GIB, ICFI, JEC, KBR, SRP

Sources

1.FactSet

2.Mergermarket