Karman Holdings Inc.

Karman Holdings Inc. (NYSE: KMH) operates as a mission-critical systems provider specializing in the upfront design, testing, manufacturing, and sale of integrated solutions for missile defense, space, and hypersonic programs. The company's website is www.karmanspace.com.

The company organizes its highly engineered solutions into three primary product families: Payload Protection and Deployment Systems, which encompass full design and manufacturing of the top section of boosters and launch vehicles; Aerodynamic Interstage Systems, supporting metallic and composite subsystems designed to enhance aerodynamics and enable interstage separation; and Propulsion Systems, including integrated solid rocket motors and supporting subsystems for liquid fueled rocket motors and ablative composites.

Karman serves three core end markets with nearly balanced revenue distribution: Hypersonics and Strategic Missile Defense, Tactical Missiles and Integrated Defense Systems, and Space and Launch. The company maintains a diversified customer base of approximately 80 customers across more than 130 active programs in production and development, with no single program accounting for more than twelve percent of revenue on average.

The company operates approximately 808,000 square feet of design, engineering, testing, and manufacturing space. As of December 31, 2025, Karman employed approximately 1,400 full-time, part-time, and temporary employees, including approximately 300 multidisciplinary engineers supporting comprehensive in-house design and manufacturing capabilities.

Karman's platform was formed through the integration of nine acquisitions beginning with the merger of Aerospace Engineering LLC and AMRO Fabricating Corporation in October 2020, followed by acquisitions of American Automated Engineering Inc., Systima Technologies, and six additional complementary businesses. The company generated revenue of $471.5 million in 2025, supported by vertically integrated concept-to-production capabilities that enable customers to simplify supply chains and accelerate time to market. The company maintains significant sole and single source contract positions across its program portfolio, providing long-term revenue visibility typical of missile and space programs that often exceed twenty-year lifecycles.