Salem Partners LLC said aerospace and defense finance veterans Trevor Bohn and Sean Walker have joined the Los Angeles boutique investment bank to lead a new aerospace and defense industry group, the company said Monday.

Salem Partners, better known for its life sciences and healthcare industry expertise, said that despite the economic slowdown, the need to replace the nation’s aging civil and military air fleets will continue to create merger and acquisition opportunities in the sector.

“We wanted to broaden our influence in the middle market, and targeted aerospace and defense as a key industry to do so,” said John Dyett, co-founder and managing director at Salem, which also provides wealth management services to wealthy individuals and foundations.

Bohn has more than a decade of investment banking experience with Banc of America Securities LLC and McGladrey Capital Markets. As a former U.S. Navy officer, Walker served as a radar intercept officer aboard the F-14B Tomcat. After leaving the military he joined McGladrey Capital.

“Sean and Trev bring a unique combination of industry and operational expertise, deep strategic relationships and substantial international experience,” said Salem co-founder Stephen Prough. “That (will) give us instant credibility in the sector.”