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Specialist aerospace and aviation market consultants

The aviation industry continues to grow globally, demonstrating remarkable resilience despite significant challenges like volcanic eruptions, the COVID pandemic, supply chain disruptions, geopolitical conflicts, and climate change. Each obstacle has ultimately strengthened the sector's capacity to adapt and innovate. Known for business model innovation, aviation has consistently disrupted markets by introducing digital processes and creating new services. The industry remains highly innovative and adaptable, while simultaneously being one of the most regulated sectors globally. Despite complexity, the aerospace industry offers substantial opportunities. It is characterized by a global reach yet dominated by a few major players who prioritize long-term supplier relationships and maintain extensive forward-looking order books, ensuring consistent and predictable assembly processes.

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Expert and Experienced: Achieving Success with our Senior Industry Experts

Our team consists of seasoned professionals with deep industry networks and sector-specific expertise, ensuring every project is backed by strategic insight and returns of experience.

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Local footprint: Leveraging our In-Depth Cultural and Market Knowledge

With extensive knowledge of the countries and cultures we operate in, we succeed in matching the unique dynamics of each market and business case and in delivering seamless and respectful cross-border projects.

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Professional and Hands-On: Relying on executable strategies

We offer a hands-on, project-driven approach to strategy and M&A, specializing in cross-border transactions with a focus on delivering tangible results through tailored, detail-oriented execution.

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Victanis' expertise in the Aerospace Sector 

As specialists in the aerospace and aviation sector, Victanis has deep knowledge and experience of delivering actionable growth strategy for its customers and can identify the critical opportunities for profitable expansion as well as guiding clients in the risks associated with any growth initiative. 

As part of corporate development assignments, Victanis help identify and qualify acquisition opportunities that really fit with our clients’ strategy and assist corporate and financial investors to understand the real value of specific assets.  

Victanis also delivers commercial due diligence that highlights both risks and opportunities.  Drawing on long experience as well as its own expert network, Victanis identify the key issues and help customers get comfort around their investment thesis and a business’ future trajectory and equity story. 

 

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The Aerospace and Aviation Paradox: Predictable Global Cycles but Highly Susceptible to Disruption

Global: A truly global industry, aerospace supply chains, like many airlines, are spread across the world.  This is a process that started in the 1990s but currently the debate is whether this process has reached a peak and is now set to reverse.  Given that the majority of airlines operate on a regional basis, all the related supply chains need to be aware of the necessity of being close to customers as parts distributors, MRO service providers and even component manufacturers. 

Cyclical: The aviation market is typically cyclical and in some ways shows the same macro characteristics as other very mature, global industries.  However, while regulation and national markets are very much less as barriers for carriers, the aviation industry is still in a phase where demand has not matured in all parts of the global market.  As such, underlying passenger demand and deregulation are still driving above-trend growth. 

Innovative: Aviation and aviation services have seen the development of successive waves of innovative business models as well as the beginnings of a true digitisation within aviation service supply chain.  These markets continue to be rich environments for the application of new business models, financial and digital strategies and opportunities to be truly disruptive abound. 

Vulnerable: The aviation and aerospace industries are very vulnerable to shocks, both external (volcanoes, war, terrorism, fuel prices etc.) and internal (supply disruption, strikes, personnel shortages, varied levels of demand etc.).  The industry has experienced more than its fair share of such events since 2019 and has largely recovered.  With each disruption or downturn, there are always casualties; airlines on tight margins, highly indebted component suppliers and inefficient service providers.  But this presents opportunity as much as risk for those who take the time to gain experience and knowledge of the market. 

 

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Discover our services tailored to the aerospace sector

  • Strategy & growth consulting

  • Company acquistion

  • Company sale

Victanis' recommandations for a leader supplier of systems and equipment for aerospace, defence and security employing 60 000 people.

Challenges

The customer is a world's leading prime contractor in aerospace and defence. It generates a turnover of several tens of billions of euros in the world, but only €500m in Germany.

It remained a niche player in Germany and was concerned how it could double its turnover in Germany in five years and expand to develop into a key player in Germany within the next 10 years.

Approach

  • Victanis analysed in detail the German market participants active (including start-up and research centres) on its client's strategic axes'. As a result of its research work, Victanis also built shortlists of possible acquisition targets, and of potential private and public partners to help position the Group on attractive projects in Germany.

  • In parallel, Victanis lead a strategic review of all the Group’s subsidiaries in Germany to better define the priority areas for growth in a German context as well as operational synergies within the Group.

Results

Victanis defined a set of recommendations according to three axes:

  • Strategic recommendations in relation to possible target acquisition, R&D partnerships and positioning among key customer accounts;

  • Operational recommendations for commercial and organisational optimisation between the Group entities in Germany;

  • Recommendations so that the Group adopts a communication and public relations strategy to become recognised at the highest level in Germany.

BAE Systems is one of the leading global defence companies.

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Challenges

Although primarily focused on defence and security, the Platform Solutions Business Unit had developed significant capability in power management systems for military and civil transport vehicles. 

With an eye to the growing civil aerospace market, the business wanted to explore the possibility of using its power management system technology for civil aircraft, an increasingly vital aspect of aircraft design in the C21st.

Approach

  • Victanis designed the project to give the client a complete ‘outside-in’ analysis of the commercial Aerospace Electrical Systems market.
  • Victanis undertook a complete assessment of the global market including revenue forecasts, the competitive environment and likely technological roadmap.
  • Secondly, Victanis assessed the Top 10 providers of electrical power systems and identified likely targets for potential acquisition to facilitate entry into the market.

Results

Victanis consolidated its analysis and provided detailed options and recommendations for a market entry strategy either through partnership or acquisition.

French group RECAERO manufactures metal and composite spare parts and sub-assemblies for the aerospace industry, for both urgent and serial production requirements.

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Challenges

Recaero had reached a critical size in France and was looking for developing some presence in Germany in order to reduce its dependency to the French market and leverage on its relationships with a number of prime contractors that also operate in Germany.

Approach

  • Victanis developed a market-entry strategy to help Recaero grow organically in Germany. The study included:

    • Mapping of all sizable aerospace companies in Germany that could become customers of RECAERO in the future and to help with the future location of Recaero’s office in Germany;

    • Meeting with a variety of prime contractors and Tier 1 suppliers to better understand their requirements in relation to RECAERO’s existing proposition;

    • Review and analysis of the few companies potentially competing with Recaero in Germany;

    • Identification of German companies with whom Recaero could potentially partner in the future.

    • Definition of Recaero’s possible position in Germany in terms of value proposition, geographical focus, potential partners and suppliers, commercial targets.

Results

RECAERO created its German subsidiary in Hamburg in 2015 in order to specifically target international and German manufacturers established in northern Germany and specialised in aircraft interiors.

Silverfleet

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Challenges

Silverfleet is a leading European mid-market Private Equity fund. Silverfleet was interested in an aerospace engine pipe and ducting company that was part of Avingtrans plc and became known as Sigma Components following the completion of the process.

Approach

  • Victanis delivered a precise and targeted Commercial Due Diligence project in two phases.
  • Phase 1 included modelling the global market and market shares for engine pipes and aircraft ducting.
  • Phase 2 involved a rigorous customer referencing.

Results

The emphasis on Victanis’ initial brief was to build a detailed model that would value the total market across four product areas, identify the demand by engine and aircraft platform as well as to estimate market shares for companies in these areas. This competitive environment analysis was also to form an initial assessment for future potential acquisition targets to further expand the business.

Finally, we undertook a comprehensive customer referencing interview programme, conducting ten face-to-face interviews with key customers such as Rolls Royce, Bombardier, Bombardier and PFW. Our deep sector knowledge and expert judgment helped Silverfleet significantly in their investment process and our ability to answer detailed questions from a variety of prospective debt providers helped accelerate the acquisition process.

Furthermore, the level of detail and insight was such that Victanis’ analysis formed the basis for evaluating the strategic options for the business after the transaction was completed.

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European offices and international partners

Paris - Victanis Advisory Services France

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c/o Logion Finance

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75116 Paris - France

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European offices and international partners

London - Victanis Advisory Services Ltd

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Gable House

18-24 Turnham Green Terrace

London W4 1QP - United Kingdom

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European offices and international partners

Munich - Victanis Advisory Services GmbH

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Sankt-Paul-Str. 9

80336 Munich - Allemagne

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European offices and international partners

Ljubljana - Victanis Advisory Services Slovenia

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Cankarjeva cesta 3

1000 Ljubljana - Slovénie

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