Woodward, Hexcel, United Technologies, Raytheon, L3 Technologies and Harris at first glance have relatively little in common except that they are mostly midsize suppliers and specialists primarily serving the aerospace and defense (A&D) market. Increasingly, that is exactly why they are pairing up—and if other recent deals are an indication, it could be one of the leading trends this year in A&D mergers and acquisitions (M&A).
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