Are we really replacable ?

I have an offer which is 20% more than my current TC, higher title and they are also offering sign on.

Here is my question : Can I ask my management to match this offer or they will just let me go.

As far as I know, I am supporting 3-4 critical projects which are due Feb-March 2020 timeframe. If I leave early to mid Jan 2020, it could mean disaster for these projects.

There is slower pace now given upcoming holidays so most projects are standstill until we come back to work next year.

I dont want to give notice now. If I approach my management in first week of Jan 2020, will they buckle under pressure to match my offer or just let me go?

‘Strike while the iron is hot’