Aerospace equipment maker Applied Aerospace & Defense files for an estimated $350 million IPO
IPO Overview
Applied Aerospace & Defense, which manufactures equipment and components for aerospace and defense uses, filed on Friday with the SEC to raise up to what we estimate could be $350 million in an initial public offering.
Applied Aerospace & Defense was formed in December 2025 through the merger of Applied Aerospace, founded in 1954, and PCX Aerosystems, founded in 1900. The company provides design, engineering, and manufacturing services for the space and defense industries, producing complex subsystems built to withstand extreme operating environments. It serves three primary markets: space and launch systems; defense aviation and airborne systems; and C5ISR and precision strike systems. Operating through a network of domestic manufacturing facilities, the company supports programs ranging from early-stage prototyping and new product development to large-scale production and aftermarket sustainment. Its customer base spans both established aerospace and defense prime contractors and emerging technology companies.
The Huntsville, AL-based company was founded in 1900 and booked $522 million in revenue for the 12 months ended March 31, 2026. It plans to list on the NYSE under the symbol AADX. Applied Aerospace & Defense filed confidentially on March 16, 2026. Morgan Stanley, Jefferies, BofA Securities, RBC Capital Markets, Guggenheim Securities, Baird, Stifel, WR Securities, and Nomura Securities are the joint bookrunners on the deal.
About the Company
We are a premier provider of advanced design, engineering, and vertically integrated manufacturing solutions for leading and next-generation space and defense technology companies. We build complex, mission-critical subsystems for extreme operating environments serving three core markets: Space and Launch Systems; Defense Aviation and Airborne Systems; and Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance and Reconnaissance and Precision Strike Systems. With decades of space and defense manufacturing heritage, we combine material science and intellectual property （“IP”）-enabled process expertise with the ability to enable rapid prototyping, enhance new product development, and responsively scale production. Across our nationwide network of advanced manufacturing facilities, we continuously support a balanced mix of next-generation technology and platform development, large scale production programs, and aftermarket sustainment for enduring platforms. We are purpose-built to scale with the nation’s accelerating space and defense demands, and we believe the breadth and depth of our manufacturing competencies are essential to the design, production and support of next-generation platforms. We maintain relationships with both blue-chip aerospace and defense prime contractors and next-generation technology innovators as a critical supply chain partner.