Applied Aerospace & Defense, a government contractor backed by private equity, has filed for a U.S. IPO after experiencing significant revenue growth. According to reports from The Economic Times, the company's revenue surged 24.8% to $498.8 million in 2025, demonstrating strong market demand for defense technology services. The Huntsville, Alabama-based space and defense hardware provider reported a net loss of $17 million on revenue of $498.8 million in fiscal year ended December 31, compared with a net loss of $34.8 million on revenue of $399.8 million a year earlier.
The IPO filing comes amid a flurry of defense technology listings in recent weeks, as reported by The Economic Times. Defense tech listings have taken center stage in the U.S. IPO market as issuers rush to seize opportunities created by the U.S.-Israeli war on Iran. Recent public offerings include aerospace parts maker Arxis, drone maker AEVEX, precision-engineered components maker Elmet Group, and radio signal analyzer HawkEye 360, all of which have gone public in New York in recent weeks.
According to The Economic Times, Applied Aerospace & Defense builds a wide range of products including fuselage, flight control surfaces, solid rocket motor cases and engine shafts for space and defense technology companies. The firm's revenue composition shows roughly 83% of its revenue came from U.S. government contracts in the twelve months ended December 31. Middle-market-focused buyout firm Greenbriar Equity Group last year combined Applied Aerospace and PCX Aerosystems to form the current entity.
As reported by The Economic Times, Applied Aerospace & Defense plans to sell new shares in the offering. Morgan Stanley and Jefferies are among the underwriters on the offering. The company will list on the New York Stock Exchange under the symbol "AADX." The IPO filing represents the latest in a series of defense technology companies seeking public market access amid strong investor interest in the sector.
