Strongest Aerospace & Defence Offices in Europe?
Hi everyone!
I am very interested in the defence industry and was wondering what the strongest European offices for this practice across MBB and T2 firms are? I know Bain is particularly strong in Italy for its relationship with Leonardo, and I assume that Munich is also a top A&D office for many firms. Do any other ones stand out?
Thanks!
Based on the most helpful WSO content, Bain's strength in Italy, particularly due to its relationship with Leonardo, is a notable highlight in the Aerospace & Defense (A&D) sector. Munich is indeed another key hub for A&D, given Germany's significant defense industry presence and increased military spending, as seen with companies like Lockheed Martin benefiting from Germany's modernization efforts.
While specific details about other standout European offices for MBB and T2 firms in A&D aren't explicitly mentioned, it's reasonable to infer that offices in regions with strong defense industries—such as the UK (London) and France (Paris)—could also be influential due to their proximity to major defense contractors and government defense initiatives.
Sources: BTC To The Rescue | The Daily Peel | 3/2/22, Aerospace & Defense (A&D) Industry Group, Mixed Markets | The Daily Peel | 5/17/22, Is there HONESTLY a difference in the quality of work between Strategy& (Tier 2 consulting) and MBB?, European M&A League Tables - Strongest banks, trends and key observations
There are definitely a few clear hubs in Europe for defence/A&D work across MBB and T2. Munich is probably the strongest overall, given the industrial base (Airbus Defence, MTU, suppliers as well as the TUM with their StartUp Infrastrcture) and all major firms have a strong presence there. Italy (Milan/Rome) is also relevant, mainly due to Leonardo, where especially Bain has built solid relationships, but you already touched on that.
Paris is another key location that’s often underestimated, it has a dense cluster of major players like Dassault, Safran, Thales and Airbus HQ, so there’s a lot of real defence exposure across projects, with McKinsey and BCG particularly strong. London is more focused on the strategy and public sector angle (MoD, BAE, government work), so slightly less industrial but still relevant depending on your interest.
In terms of firms, McKinsey and BCG are strong across Munich, Paris and London, Bain is more selective with Italy standing out and Roland Berger is particularly strong in Munich given its industrial focus. One thing to keep in mind is that defence in Europe is very relationship-driven and often tied to national clients, so language skills and sometimes even citizenship can matter more than in other practices. Overall, if you want maximum exposure, Munich and Paris are probably the most attractive options, with Italy and London depending on the angle you’re interested in.
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