PARK AEROSPACE CORP

Park Aerospace Corp.

Overview

Park Aerospace Corp. and its subsidiaries design, develop, and manufacture engineered advanced composite materials and related structures for the global aerospace market. Manufacturing and R&D are concentrated at the Newton, Kansas facility, where the company develops both materials and structures at a single site.

Core offerings

• Thermoset prepregs and related resin formulations (epoxies, phenolics, polyesters, cyanate esters, polyimides) using woven, non-woven, and unidirectional reinforcements
• Film adhesives and lightning strike protection materials
• Specialty ablative materials for rocket motors and nozzles
• Materials and designs for radomes and radome applications
• Low-volume tooling and associated services for composite structures
• Composite parts, structures, and assemblies, including SigmaStrut™ and AlphaStrut™ product lines, and build-to-print manufacturing

Products and processes

• Prepreg production methods:
  • Solution coating (treater) with solvent: resin mixing, casting, impregnation of reinforcements, then drying
  • Hot-melt impregnation (no solvent): casting a resin film and laminating reinforcement
• Material families include modified epoxies, phenolics, polyesters, cyanates, polyimides and reinforcements such as PAN-based carbon fiber, E-glass, S2 glass, quartz, aramids (Kevlar, Twaron), carbonized rayon, and polyester
• In addition to materials, the company supplies composite structures, assemblies, and related tooling
• Certifications: NADCAP accreditation for non-metallic materials manufacturing and testing and for composites fabrication, and AS9100D quality management certification

Markets and customers

• End markets: primary/secondary aircraft structures, radomes, aircraft interiors, UAVs, military aircraft, business jets, general aviation, turboprops, rotorcraft, space vehicles, and rocket/missile components
• Distribution and partnership highlights:
  • Exclusive North American distributor for ArianeGroup’s RAYCARB C2B® NG (used for ablative materials in rocketry and missile systems)
  • Park advanced funds to ArianeGroup totaling €4,587,000 to support future C2B® purchases; payments scheduled for 2025–2027 to fund manufacturing equipment upgrades
• Customer concentration (based on stated fiscal years):
  • GE Aerospace subtier suppliers accounted for 39.3% (2026), 39.8% (2025), and 37.7% (2024) of total worldwide net sales
  • Aerojet Rocketdyne accounted for 11.7% of total worldwide sales in 2026
  • No other single customer accounted for 10% or more of total worldwide sales in 2026, 2025, or 2024

Backlog and order activity

• Unfilled, firm backlog as of May 18, 2026: approximately $51,425,000
• Backlog as of May 16, 2025: approximately $25,809,000
• Backlog primarily consists of composite materials orders

Manufacturing, facilities, and capacity

• Primary location: Newton, Kansas (airport location)
• Expansion completed in fiscal 2024 doubled facility size and increased manufacturing capacity, including upgraded hot-melt film/tape lines, improved mixing and delivery systems, a larger laboratory, additional storage, and related infrastructure
• Planned facility: a new composites material manufacturing and development facility to support increased demand; site selection is in process and construction is expected to begin in fiscal 2027. The new site will include manufacturing, development labs, a production lab, offices, and storage

Raw materials and supply

• Key raw materials: carbon fiber and fabrics, carbonized rayon, aramids (Kevlar, Twaron), quartz, fiberglass, polyester, resins, films, and specialty chemicals
• Materials are sourced from multiple suppliers; certain FAA-certified program qualifications may constrain supplier changes for key inputs
• The company actively seeks acceptable alternatives for critical inputs

Workforce and culture

• Employees: 125 as of March 1, 2026
• Emphasis on integrity, dedication, safety, fair recruiting, employee development, and workforce diversity
• The company describes a niche culture focused on taking on work others are unwilling or unable to do, supported by a health and safety program

Environmental and regulatory

• The company states it complies with applicable environmental laws and regulations and believes it is in substantial compliance
• Park and subsidiaries are named as potentially responsible parties at three Superfund Act-related sites; no wrongdoing has been alleged
• Management believes known environmental matters will not have a material adverse effect on liquidity or operations

Intellectual property and trademarks

• The company holds several patents and trademarks or licenses, and some are important to its products; management indicates loss of patent protection would not, by itself, have a material adverse effect on the business
• Registered trademarks: AEROGLIDE®, AEROADHERE®, COREFIX®, ELECTROGLIDE®, ELECTROVEIL®, RADARWAVE®
• Common law trademarks: ALPHASTRUT®, PEELCOTE®, SIGMASTRUT®

Corporate context

• Founded in 1954 by Jerry Shore (former Chairman until 2004)
• The company provides publicly accessible regulatory filings (10-K, 10-Q, 8-K) on its website for investor review