Sunday, November 8, 2026
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The business of defense

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Company

Karman Holdings Inc.

Karman designs, tests, manufactures and sells mission-critical systems for missile, defense and space programs, mainly to prime contractors. ↗

HeadquartersHuntington Beach, CA ↗
Founded2020 ↗
LeadershipJon Rambeau, Chief Executive Officer ↗; Mike Willis, Chief Financial Officer ↗; Jonathan Beaudoin, Chief Operating Officer ↗
Employeesapproximately 1,400 ↗
Revenue$472 million (fiscal 2025) ↗
SharesKRMN ↗

Products

  • Payload Protection and Deployment Systems are the top section of a booster, launch vehicle, payload or missile system, fully designed and built by Karman. ↗
  • Aerodynamic Interstage Systems are metallic and composite subsystems that improve aerodynamics and enable different modes of interstage separation. ↗
  • Propulsion Systems cover integrated solid rocket motors, critical subsystems for liquid-fueled rocket motors, launch systems and ablative composites. ↗

Customers

  • Karman supplies content on missile programs across the U.S. Army, Navy, Air Force and Missile Defense Agency, plus commercial space and NASA-sponsored programs. ↗

Deals since 2020

Jul 202620

Karman Holdings buys Walker Precision Engineering

Backed by Trive Capital

Glasgow, Scotland-based manufacturer of precision engineered components and integrated manufacturing solutions supporting missile seekers, guidance systems and control systems

components and materialsmunitions and missilesSource
$95 millionClosed Aug 28, 2026
Dec 202531

Karman Space & Defense buys Seemann Composites and Materials Sciences

Backed by Trive Capital

Advanced composite and materials solutions for naval programs.

components and materialspropulsionshipbuilding and maritimeSource
$210 millionClosed Feb 3, 2026
Oct 202528

Karman Space & Defense buys Five Axis Industries

Backed by Trive Capital

Business that expands Karman's capabilities in the commercial space industry.

components and materialspropulsionspaceSource
$91 millionClosed Oct 28, 2025
May 202528

Karman Holdings buys Industrial Solid Propulsion

Backed by Trive Capital

Small-diameter solid propellant and energetic propulsion systems, with related real estate

autonomy and dronesmunitions and missilespropulsionSource
$50 millionClosed May 28, 2025
Apr 202502

Karman Space & Defense buys Metal Technology

Seller: MTI Holdings · Backed by Trive Capital

Advanced materials business.

components and materialsmunitions and missilesSource
$82 millionClosed Apr 2, 2025
Sep 202121

Karman Missile & Space Systems buys TMX Engineering

Backed by Trive Capital

Complex precision machining of exotic and non-exotic metals for missile, space and hypersonic systems.

components and materialsmunitions and missilesspaceSource
UndisclosedClosed
Feb 202109

Karman Missile & Space Systems buys AAE Aerospace

Backed by Trive Capital

Manufacturer of high temperature composites for the missile, interceptor and space sectors.

propulsionmunitions and missilesspaceSource
UndisclosedClosed

The deal tracker

Other acquisitions

  • Karman acquired American Automated Engineering, a maker of high-temperature composites, in December 2020. ↗
  • Karman acquired Systima Technologies in September 2021, a specialist in integrating energetic and mechanical systems into space and hypersonic structures. ↗

Earnings

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