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Industry Focus

Unmanned Systems

Air, ground, surface and subsea autonomy companies and the payload and software supply chain behind them.

OverviewLeadershipEngagementsRelated newsSelected transactionsGet in touch
Overview

Unmanned Systems

Autonomy has moved from science project to program of record, and buyers are paying for platforms that have crossed into fielded capability — particularly where affordable mass is the requirement.

We advise unmanned platform manufacturers, payload and sensor suppliers and autonomy software companies on sales to strategics and defense-focused sponsors.

M&A advisory services to meet the growing needs of our UAV and Unmanned Systems clients

The McLean Group’s Unmanned Systems, Drone and UAV Team is a proven leader in delivering exceptional M&A advisory services. We combine deep sector intelligence with a robust network of strategic acquirers and financial investors, enabling us to consistently achieve superior outcomes for our clients. Our team, comprised of seasoned industry veterans and financial experts, possesses extensive experience across the full spectrum of the unmanned systems and drone ecosystem, including:

Coverage

The autonomy subsectors we cover

Platforms

Unmanned aerial systems
Unmanned surface vessels
Unmanned undersea vehicles
Ground robotics
Loitering munitions

Autonomy & Software

Autonomy stacks
Mission planning and C2
Perception and navigation
Simulation and test
Fleet management

Payloads & Enablers

EO/IR and radar payloads
Electronic warfare
Communications and datalinks
Propulsion and power
Counter-UAS
Senior Coverage

Leadership

Meet the Full Team →
Joshua Butler
Joshua ButlerManaging DirectorInvestment Banking · Tysons Corner, VAjbutler@mcleanllc.com703.827.0008
Mitch Martin
Mitch MartinManaging DirectorCo-head, Defense, Government & Intelligence · Tysons Corner, VAmmartin@mcleanllc.com703.752.9009
Harry Ward
Harry WardPresident, DLS MarineMarine Appraisal & Survey · Metairie, LAhward@mcleanllc.com504.835.8505
Track Record

Engagements

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Sell-Side M&ABlue Force Technologieshas been acquired by Anduril Industries2023
Sell-Side M&AVanteon Corporationhas been acquired by PDW Holdings2026
Sell-Side M&AMicrotelhas been acquired by Tyto Athene, an Arlington Capital portfolio company2024
Sell-Side M&AQuintron Systemshas been acquired by SAS, a Godspeed Capital company2024
Perspective

Insights

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Market Report · Jun 2026Monthly Middle Market M&A Insider Report (May 2026)The McLean Group's May 2026 M&A Insider Report tracks deal activity across Defense & Government, Physical & Cyber Security, Critical Infrastructure, and Maritime. This month's edition highlights notable transactions including Parker Hannifin's announced $2.55B acquisition of CIRCOR's Commercial and Defense Aerospace business from KKR, VSE Corporation's $2.15B closing of Precision Aviation Group to build a 61-location aviation aftermarket platform, and Rocket Lab's $60M acquisition of Motiv Space Systems, adding Mars-proven robotics to its portfolio. The report also includes public company trading comps and EBITDA valuation multiples across all four sectors. Public market multiples are provided for reference purposes and reflect traded equity values, which may differ materially from private company transaction pricing.Read More →Market Report · May 2026Monthly Middle Market M&A Insider Report (April 2026)The McLean Group's April 2026 M&A Insider Report tracks deal activity across Defense & Government, Physical & Cyber Security, Critical Infrastructure, and Maritime. This month's edition highlights notable transactions including York Space Systems' $355M acquisition of satellite communications firm ALL.SPACE, Scale AI's acquisition of defense data analytics firm ICG Solutions, and Ondas' two-deal sprint adding World View Enterprises and Mistral to its autonomous intelligence portfolio. The report also includes public company trading comps and EBITDA valuation multiples across all four sectors. Public market multiples are provided for reference purposes and reflect traded equity values, which may differ materially from private company transaction pricing. Download the full report at mcleanllc.com.Read More →Market Report · Apr 2026What Is a 409A Valuation and When Does Your Company Need One?A 409A valuation is an independent appraisal of your private company's common stock, and if you're issuing equity incentive awards to employees, it's a legal requirement, not a formality. Get it wrong, and employees face immediate income recognition, a 20% federal penalty tax, and potential state penalties that can push effective tax rates well above 50%. In this article, The McLean Group's Valuation Advisory team breaks down exactly how 409A valuations work, when your company needs one, which IRS safe harbor methods apply at each stage, and the common mistakes that create tax exposure at exactly the wrong time: during fundraising, M&A due diligence, or an IRS audit.Read More →

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