Applied Aerospace Marks Record Year with Revenue Backlog of $450M+
Fueled by Double Digit Growth, New Contract Awards and Complementary Acquisition
STOCKTON, Calif., Feb. 25, 2025 /PRNewswire/ -- Applied Aerospace, a proven manufacturer of solutions for commercial and military spacecraft, aircraft, and ground-based systems, announced that its 2024 fiscal year closed at a record high with a contract backlog of more than $450M. The performance continues a multi-year trend in annual growth for the company. The drivers include 37 new contract awards and substantial expansion on existing programs, bolstered by the recent acquisition of Washington-state based Innovative Composite Engineering (ICE).
"In an industry characterized by both long-standing incumbents and innovative start-ups, Applied Aerospace strikes the perfect balance between proven manufacturing expertise and the agility needed to serve demanding missions," said company CEO Kevin Bidlack. "We have the scale to execute large complex composite and metallic manufacturing and assembly projects, as well as the in-house engineering to help customers ensure the design will meet or exceed their performance specifications."
The company reported double-digit growth for the fourth straight year, driven largely by the award of multiple new contracts across its space, aviation, land and sea program groups. The acquisition of ICE in October of 2024 further enhanced Applied Aerospace by adding production capacity and complementary manufacturing capabilities.
In 2022, Applied Aerospace was acquired by a private equity firm specializing in advanced manufacturing, logistics and supply-chain. Under the new ownership, Applied Aerospace is investing in expanded facilities and product innovation to serve rapidly evolving sectors including space systems, launch vehicles, and both crewed aircraft and uncrewed aerial systems.
About Applied Aerospace
Aerospace systems demand precision engineering, expert manufacturing and unrelenting quality assurance. Government and commercial clients alike depend on Applied Aerospace solutions to perform at the velocities, forces, and temperatures of hypersonic and orbital flight. Applied Aerospace leverages an undeniable 70-year heritage in air, land, sea and space applications. By combining advanced engineering with proven techniques in composite and metallic manufacturing and assembly, Applied Aerospace builds fuselage and wing structures, actuated control surfaces, radomes, antennas and other complex solutions used in aviation, launch vehicles and spacecraft. Applied Aerospace is a portfolio company of Greenbriar Equity. For more information visit www.appliedaero.space
Contact: Taylor Bloss, Marketing Managertbloss@aascworld.com
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