Applied Aerospace Achieves Record Revenue Backlog Exceeding $450 Million

Applied Aerospace Sets New Revenue Record

Applied Aerospace, a prominent manufacturer of integrated solutions in both commercial and military sectors, has announced a landmark achievement as it closed its fiscal year 2024 with a staggering revenue backlog exceeding $450 million. This accomplishment continues Applied Aerospace's multi-year trajectory of significant growth, highlighted by the receipt of 37 new contract awards and expansion of existing programs. Bolstered by the acquisition of Innovative Composite Engineering (ICE) based in Washington state, the company's achievements are a testament to its strategic foresight and operational efficiency.

CEO Kevin Bidlack expressed optimism regarding the firm's capabilities, stating, "In an industry characterized by both long-term players and dynamic newcomers, Applied Aerospace combines extensive manufacturing experience with the agility necessary for executing complex missions effectively." He emphasized that the company possesses the scale to undertake large and complicated composite and metallic manufacturing projects while also offering in-house engineering expertise to ensure their customers’ performance specifications are met, if not exceeded.

The organization has consistently reported double-digit growth for four consecutive years. This growth trajectory has been largely fueled by the influx of new contracts across its diverse program areas, including space, aviation, land, and maritime operations. Additionally, the acquisition of ICE in October 2024 significantly enhanced Applied Aerospace's production capabilities, allowing for an increased operational scope.

The company underwent a transformative change in 2022 when it was acquired by a private equity firm that specializes in advanced manufacturing, logistics, and supply-chain dynamics. With new ownership, Applied Aerospace is directing resources toward the expansion of its facilities and the innovation of its product lines to cater to the rapidly evolving sectors such as space systems, crewed and uncrewed aerial vehicles, and launch vehicles.

About Applied Aerospace

Expert manufacturing and precision engineering are crucial in the aerospace industry, where clients from both government and commercial sectors rely on the innovative solutions provided by Applied Aerospace. With a remarkable 70-year legacy, the firm excels in crafting products for air, land, sea, and space applications. By harmonizing advanced engineering with tried-and-true manufacturing techniques in both composite and metallic materials, Applied Aerospace fabricates essential components such as fuselages, wing structures, actuated control surfaces, radomes, and antennas. These complex solutions are vital for aviation, launch systems, and spacecraft usage.

Overall, the latest successes highlight Applied Aerospace's strategic investments and its commitment to pushing the boundaries of aerospace technology, making it a key player in the industry’s future.

For more information about Applied Aerospace and its innovative offerings, visit www.appliedaero.space.