The Darwinian struggle for survival that has defined the aerospace/defense industry for most of the last decade will continue unabated in 2002 and may actually intensify in the next few years. On the commercial side of the business, a drop in new aircraft demand that's expected to be steeper and last longer than anyone could have predicted just six months ago will put all suppliers under tremendous strain. Excess capacity, price pressures and financial considerations are apt to trigger a broad restructuring, according to some merger-and-acquisition (M&A) specialists.
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