Aerospace, Defense & Government Technology Solutions

1^st Half Notes

• Aerospace: remains strong with robust commercial aerospace backlogs, increased deliveries, elevated OEM backlogs, and continued MRO aftermarket demand. Supply chain resilience and security remains important with governments and primes looking to gain greater control over key components.
• Defense: continues to receive heightened interest. Deal volume remains strong as a generational recapitalization of the U.S. defense industrial base continues and the DoW continues spending towards technology-enabled solutions (Electronic Warfare, Drones, Space, Next-Gen Weapons), munitions replenishment, autonomous platforms, naval power & shipbuilding, and other key technologies.
• Government Technology Solutions: down slightly in the 1st half of 2026 v. 2025 as the market continues to evaluate the aftershocks of DOGE, agency closures, and contract consolidation, alignment with customers that demand more technology solutions v. straight services, along with changing procurement strategies (ex: EO on preference for fixed price).