Park Aerospace Corp. (PKE): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde complexe de l'ingénierie aérospatiale, Park Aerospace Corp. (PKE) est un phare d'innovation, transformant la science des matériaux complexes en solutions de pointe pour les défis aérospatiaux les plus exigeants. Avec un modèle commercial stratégique qui mélange parfaitement le développement de matériaux composites avancés, la fabrication de précision et l'expertise technique inégalée, PKE a creusé un créneau unique dans une industrie où les performances et la fiabilité ne sont pas seulement souhaitées, mais absolument essentielles. Leur approche complète de la conception et de la production des composants aérospatiales les distingue, offrant aux clients plus que de simples produits - ils fournissent des solutions techniques qui repoussent les limites de ce qui est possible dans la technologie de l'aviation et de l'espace.

Park Aerospace Corp. (PKE) - Modèle d'entreprise: partenariats clés

Fabricants aérospatiaux et de défense

Park Aerospace Corp. maintient des partenariats stratégiques avec les principaux fabricants aérospatiaux et de défense suivants:

Entreprise partenaire	Focus de partenariat	Durée de collaboration
Lockheed Martin	Matériaux composites avancés	En cours depuis 2015
Boeing	Développement des composants aérospatiaux	Partenariat actif depuis 2010
Northrop Grumman	Matériaux aérospatiaux militaires	Partenariat établi en 2012

Institutions de recherche sur les matériaux avancés

Les principales collaborations de recherche comprennent:

• Laboratoire de recherche sur les matériaux du Massachusetts Institute of Technology (MIT)
• Georgia Institute of Technology Advanced Materials Research Center
• Division des matériaux du centre de recherche de la NASA Glenn

Fournisseurs d'ingénierie et d'usinage de précision

Partenariats de fabrication de précision critique:

Fournisseur	Spécialisation	Volume de l'offre annuelle
Precision Components Inc.	Usinage à haute tolérance	4,2 millions de dollars
Solutions d'outillage avancées	Outillage de qualité aérospatiale	3,7 millions de dollars

Collaborateurs de conception de composants aérospatiaux

Les partenariats de conception collaboratif se concentrent sur:

• Innovation du matériau composite
• Composants structurels légers
• Systèmes de gestion thermique haute performance

Entrepreneurs de l'aviation militaire et commerciale

Les partenariats stratégiques avec les entrepreneurs en aviation comprennent:

Entrepreneur	Type de contrat	Valeur du contrat
U.S.Air Force	Développement avancé des matériaux	12,5 millions de dollars
United Airlines	Matériaux d'aéronefs commerciaux	6,8 millions de dollars

Park Aerospace Corp. (PKE) - Modèle d'entreprise: activités clés

Développement de matériaux composites avancés

Investissement annuel de R&D: 12,3 millions de dollars (2023 Exercice)

Type de matériau	Volume de production annuel	Coût de développement
Composites à haute température	425 tonnes métriques	4,7 millions de dollars
Fibre de carbone de qualité aérospatiale	312 tonnes métriques	3,9 millions de dollars

Fabrication de composants aérospatiale de précision

Installations de fabrication: 3 emplacements

• Fabrication totale en pieds carrés: 185 000 pieds carrés
• Capacité de fabrication annuelle: 1,2 million de composants
• Tolérance à la fabrication de précision: ± 0,0005 pouces

Services de recherche et d'ingénierie

Travail d'ingénierie: 142 ingénieurs spécialisés

Discipline d'ingénierie	Nombre d'ingénieurs	Expérience moyenne
Ingénierie des matériaux	47	12,5 ans
Conception aérospatiale	38	15,3 ans

Conception et fabrication de produits personnalisés

Projets de conception personnalisés annuels: 87 projets uniques

• Durée moyenne du projet: 6,2 mois
• Revenus de conception personnalisés: 22,1 millions de dollars (2023)

Processus de test et de certification de qualité

Investissement de contrôle de la qualité: 5,6 millions de dollars par an

Norme de certification	Taux de conformité	Coût de certification annuel
AS9100D Aerospace Standard	99.8%	1,2 million de dollars
Certification FAA	100%	1,5 million de dollars

Park Aerospace Corp. (PKE) - Modèle d'entreprise: Ressources clés

Expertise en ingénierie spécialisée

Depuis 2024, Park Aerospace Corp. maintient une équipe d'ingénierie spécialisée avec ce qui suit profile:

Catégorie d'ingénierie	Nombre de professionnels
Ingénieurs de composites avancés	87
Spécialistes des matériaux aérospatiaux	64
Personnel d'ingénierie de R&D	53

Installations de fabrication avancées

Park Aerospace Corp. exploite des installations de fabrication avec les spécifications suivantes:

• Empreinte de fabrication totale: 247 000 pieds carrés
• Nombre d'emplacements de fabrication: 3
• Capacité de fabrication annuelle: 1,2 million de composants composites

Technologies de matériaux composites propriétaires

Catégorie de technologie	Nombre de brevets enregistrés
Formulations de matériaux composites	22
Brevets de processus de fabrication	16

Main-d'œuvre technique qualifiée

Composition de la main-d'œuvre en 2024:

Catégorie des employés	Total des employés
Total des employés	412
Personnel technique avancé	276

Portfolio de propriété intellectuelle étendue

Catégorie IP	Compte total
Brevets actifs	38
Demandes de brevet en instance	12

Park Aerospace Corp. (PKE) - Modèle d'entreprise: propositions de valeur

Matériaux composites hautes performances pour aérospatiale

Park Aerospace Corp. est spécialisé dans les matériaux composites avancés avec les spécifications clés suivantes:

Type de matériau	Caractéristiques de performance	Capacité de production annuelle
Prélections composites avancées	Résistance à la température: jusqu'à 350 ° F	1,2 million de livres par an
Composites de la matrice en céramique	Ratio de force / poids: 5: 1	250 000 livres par an

Solutions d'ingénierie personnalisées

Park Aerospace fournit des solutions d'ingénierie sur mesure avec les capacités suivantes:

• Services de modification de conception pour des composants aérospatiaux complexes
• Développement de matériel personnalisé
• Prototype d'ingénierie Support

Expertise technique supérieure dans les matériaux avancés

L'expertise technique quantifiée à travers:

Métrique	Valeur
Investissement en R&D (2023)	4,2 millions de dollars
Nombre de demandes de brevet	12 brevets actifs
Personnel d'ingénierie avec des diplômes avancés	68% de la main-d'œuvre technique

Fabrication de composants aérospatiaux précis et fiable

Mélacés de précision de fabrication:

• Plage de tolérance: ± 0,001 pouces
• Taux de réussite du contrôle de la qualité: 99,7%
• Processus de fabrication certifiés ISO 9001: 2015

Capacités de conception innovantes pour des applications complexes

Innovation de conception quantifiée à travers:

Catégorie de conception	Production innovation annuelle	Segments de marché
Composants structurels aérospatiaux	37 Nouvelles itérations de conception	Aviation commerciale, défense
Composites de matériaux avancés	18 nouvelles formulations de matériel	Technologie spatiale, avions militaires

Park Aerospace Corp. (PKE) - Modèle d'entreprise: relations avec les clients

Accords de collaboration technique à long terme

Park Aerospace Corp. maintient des accords de collaboration techniques avec plusieurs entrepreneurs en aérospatiale et en défense. En 2023, la société a déclaré 17 accords de partenariat technique à long terme actifs avec les principaux fabricants de l'industrie.

Type de client	Nombre d'accords	Durée moyenne
Fabricants aérospatiaux	12	5-7 ans
Entrepreneurs de la défense	5	3-5 ans

Support d'ingénierie directe

La société propose des équipes de support d'ingénierie dédiées à des projets clients complexes. En 2023, Park Aerospace a alloué 42 professionnels de l'ingénierie à temps plein pour l'engagement des clients directs.

• Temps de réponse moyen: 4,2 heures
• Évaluation de satisfaction du client: 94,6%
• Couverture de support technique: global

Développement de solutions personnalisées

Park Aerospace a investi 3,2 millions de dollars en 2023 pour développer des solutions composites avancées personnalisées pour des exigences spécifiques des clients.

Catégorie de solution	Investissement	Temps de développement
Composites avancés	1,7 million de dollars	6-12 mois
Matériaux spécialisés	1,5 million de dollars	4 à 9 mois

Services de consultation technique

La société propose des services de consultation technique spécialisés dans plusieurs domaines d'ingénierie. En 2023, Park Aerospace a organisé 128 séances de consultation technique avec des clients.

• Zones de consultation: ingénierie des matériaux, conception composite, processus de fabrication
• Durée moyenne de la consultation: 3,5 heures
• Revenus de consultation: 2,1 millions de dollars

Modèle d'engagement client réactif

Park Aerospace maintient un approche d'engagement centrée sur le client avec des canaux de communication complets.

Canal de fiançailles	Temps de réponse	Fréquence d'utilisation
Prise en charge du téléphone direct	Dans les 2 heures	Tous les jours
Communication par e-mail	Dans les 4 heures	Continu
Portail technique en ligne	Accès 24/7	Continu

Park Aerospace Corp. (PKE) - Modèle d'entreprise: canaux

Équipe de vente directe

En 2024, Park Aerospace Corp. maintient une équipe de vente directe de 17 professionnels techniques des ventes axés sur les marchés aérospatiaux et avancés des matériaux.

Métrique du canal de vente	2024 données
Représentants totaux des ventes directes	17
Expérience de vente moyenne	12.4 ans
Couverture géographique	Amérique du Nord, Europe, Asie

Conférences techniques et expositions de l'industrie

Park Aerospace participe à 8 à 10 principales conférences de l'industrie aérospatiale chaque année.

• Aérospatial & Sommet des fournisseurs de défense
• Conférence technique sampe
• Salon aérien international de Paris
• Forum AIAA Scitech

Documentation technique en ligne

La société maintient une plate-forme de documentation technique numérique complète avec un accès 24/7 pour les clients.

Métriques de documentation en ligne	2024 statistiques
Documents techniques totaux	387 documents
Visiteurs mensuels du site Web	4 200 visiteurs uniques
Taux de téléchargement de document moyen	62 téléchargements par document

Publications commerciales de l'industrie aérospatiale

Park Aerospace maintient la publicité active et la présence éditoriale dans 6 publications clés de l'industrie.

• Semaine de l'aviation & Technologie spatiale
• Magazine de fabrication aérospatiale
• Matériaux avancés & Journal de fabrication
• Magazine Technology Composites

Réseaux de développement commercial stratégique

L'entreprise tire parti de 12 réseaux stratégiques de développement commercial dans les secteurs de l'aérospatiale et des matériaux avancés.

Type de réseau	Nombre de réseaux actifs
Réseaux de chaîne d'approvisionnement en aérospatiale	5
Consortiums de matériaux avancés	4
Recherche & Partenariats de développement	3

Park Aerospace Corp. (PKE) - Modèle d'entreprise: segments de clients

Fabricants aérospatiaux et de défense

Park Aerospace sert des fabricants aérospatiaux et de défense avec des matériaux composites spécialisés et des services d'ingénierie.

Type de client	Contribution annuelle des revenus	Segment de produit primaire
Majeurs fabricants de défense	42,6 millions de dollars	Matériaux composites avancés
Fournisseurs aérospatiaux de niveau 1	31,2 millions de dollars	Services d'ingénierie spécialisés

Producteurs d'avions commerciaux

Park Aerospace fournit des matériaux composites et des solutions d'ingénierie aux fabricants d'avions commerciaux.

• Boeing Commercial Airplanes
• Avion commercial Airbus
• Jets commerciaux Embraer

Entrepreneurs de l'aviation militaire

La société fournit des matériaux composites avancés pour les plateformes d'aviation militaire.

Client militaire	Valeur du contrat	Application matérielle
Lockheed Martin	18,7 millions de dollars	F-35 Lightning II Composites
Northrop Grumman	15,3 millions de dollars	Systèmes sans pilote avancés

Satellites et entreprises technologiques spatiales

Park Aerospace prend en charge le développement de la technologie des satellites et de l'espace avec des matériaux spécialisés.

• SpaceX
• Origine bleue
• Fusée

Entreprises de génie avancé

La société fournit des services d'ingénierie et des solutions composites avancées.

Segment d'ingénierie	Revenus annuels	Type de service
Recherche & Développement	22,9 millions de dollars	Ingénierie des matériaux avancés
Développement de prototypes	16,5 millions de dollars	Solutions de matériaux composites

Park Aerospace Corp. (PKE) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, Park Aerospace Corp. a alloué 8,2 millions de dollars aux frais de recherche et développement, représentant 12,3% de ses revenus totaux.

Exercice fiscal	Investissement en R&D	Pourcentage de revenus
2023	$8,200,000	12.3%
2022	$7,500,000	11.8%

Entretien de l'équipement de fabrication

Les coûts annuels de maintenance des équipements pour Park Aerospace Corp. ont totalisé 3,6 millions de dollars en 2023, avec une ventilation comme suit:

• Entretien de l'équipement d'usinage de précision: 1,5 million de dollars
• Maintenance des systèmes de contrôle de la qualité: 850 000 $
• Équipement de fabrication de composants aérospatiaux: 1,25 million de dollars

Salaires de main-d'œuvre et d'ingénierie qualifiés

Les coûts totaux de main-d'œuvre pour l'ingénierie qualifiée et le personnel technique en 2023 étaient de 22,4 millions de dollars.

Catégorie des employés	Salaire annuel moyen	Nombre d'employés
Ingénieurs seniors	$135,000	85
Spécialistes techniques	$95,000	120
Ingénieurs d'entrée de gamme	$75,000	65

Achat de matériel

Les coûts d'achat de matériel pour 2023 s'élevaient à 15,7 millions de dollars, avec la composition suivante:

• Alliages en aluminium de qualité aérospatiale: 6,2 millions de dollars
• Matériaux composites: 4,5 millions de dollars
• Composants électroniques spécialisés: 3,9 millions de dollars
• Autres matières premières: 1,1 million de dollars

Processus de certification de qualité

Les dépenses de certification et de conformité de la qualité pour 2023 étaient de 2,3 millions de dollars, notamment:

• AS9100D Aerospace Quality Management Certification: 750 000 $
• ISO 9001: Maintenance de certification 2015: 450 000 $
• Audits et inspections de qualité en cours: 1,1 million de dollars

Structure totale des coûts pour 2023: 52,2 millions de dollars

Park Aerospace Corp. (PKE) - Modèle d'entreprise: Strots de revenus

Fabrication de composants personnalisés

Revenus de la fabrication de composants aérospatiaux personnalisés pour l'exercice 2023: 67,4 millions de dollars

Catégorie de produits	Revenus ($ m)	Pourcentage du total des revenus
Composants composites avancés	38.2	56.7%
Structures aérospatiales spécialisées	29.2	43.3%

Services de conception d'ingénierie

Revenus de services de conception d'ingénierie pour 2023: 12,6 millions de dollars

• Conseil d'ingénierie aérospatiale
• Conception de matériaux avancés
• Développement de prototypes

Licence de technologie matérielle

Revenus de licence pour 2023: 5,3 millions de dollars

Catégorie de licence	Revenus ($ m)
Technologies de matériaux composites	3.7
Licence avancée en polymère	1.6

Conseil technique

Revenus de conseil technique pour 2023: 8,9 millions de dollars

• Consultation en génie aérospatial
• Services de conseil en science des matériaux
• Optimisation du processus de fabrication

Ventes de produits aérospatiaux spécialisés

Revenus de vente de produits spécialisés pour 2023: 15,2 millions de dollars

Type de produit	Revenus ($ m)	Segment de marché
Panneaux composites avancés	7.6	Aviation commerciale
Composants aérospatiaux spécialisés	5.4	Secteur de la défense
Produits d'ingénierie de précision	2.2	Technologie spatiale

Total des sources de revenus pour 2023: 109,4 millions de dollars

Park Aerospace Corp. (PKE) - Canvas Business Model: Value Propositions

Sole-source, high-reliability materials for critical aerospace and defense structures.

Park Aerospace Corp. generated total sales of $62.0 million for the full fiscal year 2025, with trailing twelve-month revenue reaching $63.13M as of August 31, 2025. In fiscal year 2025, military applications accounted for 42% of total revenue, while commercial aircraft accounted for 48%, and business aircraft made up the remaining 10%.

The company's value proposition is underscored by its critical supplier status in key defense programs.

• Sole source qualified for the Patriot PAC-3 missile system ablative fabric component.
• The company is currently negotiating an order worth 60% of its annual revenues related to these materials.

Specialty ablative materials for extreme-environment rocket motors and nozzles.

Within the military segment, which generated approximately $26.1 million in FY2025 revenue, rocket nozzles were the largest application area.

Military Application Segment	FY2025 Revenue Share
Rocket Nozzles	44%
Aircraft Structures	33%
Drones (UAVs)	16%
Radomes	7%

Park Aerospace Corp. recently secured a blanket purchase order from a key OEM partner for up to $40 million of the RAYCARB C2®B fabric, essential for these ablative materials.

Advanced composite materials for primary and secondary jet engine structures.

Park Aerospace Corp. supplies advanced composite materials, including film adhesives (Aeroadhere®) and lightning strike protection materials (Electroglide®), for jet engine structures. The company expects total sales from GE Aerospace programs to be between $28.0 million and $32.0 million for FY2026. This compares to $21.1 million in GE Aerospace program sales achieved in FY2024. The conceptual revenue outlook for these jet engine programs, once production rates reach full capacity, is estimated at approximately $61.4 million annually.

Low-volume tooling and composite parts fabrication for unique solutions.

Park Aerospace Corp. designs and fabricates composite parts, structures, assemblies, and low-volume tooling. The target markets for these proprietary composite product lines, such as SigmaStrut™ and AlphaStrut™, include prototype and development aircraft, special mission aircraft, and exotic spacecraft. The company's stated objective is to address needs that others find too difficult, too small, or too annoying; they defintely sign up for those jobs.

Park Aerospace Corp. (PKE) - Canvas Business Model: Customer Relationships

You're looking at how Park Aerospace Corp. (PKE) locks in its business, and it really boils down to deep, embedded relationships with the biggest names in aerospace. This isn't about transactional sales; it's about becoming indispensable to prime contractors and major OEMs.

Direct, high-touch relationships with prime contractors and major OEMs.

Park Aerospace Corp. focuses its efforts on maintaining incredibly close ties with its key customers. For instance, the relationship with GE Aerospace is definitely a cornerstone; Park serves as the sole source for composite materials used in engine nacelles and thrust reversers across several of their programs. To give you a sense of scale from the most recent full-year data available, sales to GE Aerospace affiliates and non-affiliates represented $37.7\%$ of the company's total worldwide net sales in fiscal year 2024, and no other single customer reached the $10\%$ threshold that year. This level of reliance on a few major players means the relationship management has to be top-tier.

The customer base for fiscal year 2025 shows this focus clearly, with the revenue split reflecting where these high-touch relationships drive sales:

Market Segment	FY2025 Revenue Percentage
Commercial Aircraft	$48\%$
Military Applications	$42\%$
Business Aircraft	$10\%$

The military segment itself is broken down by application, showing where the deep technical engagement is happening:

• Rocket nozzles: $44\%$ of military revenue.
• Aircraft structures: $33\%$ of military revenue.
• Drones: $16\%$ of military revenue.
• Radomes: $7\%$ of military revenue.

Negotiating life-of-program agreements for long-term revenue visibility.

The goal here is to secure revenue streams that last as long as the underlying aircraft or missile program does. Park Aerospace Corp. uses long-term agreements to achieve this, though you should know that these are primarily requirements-based and don't actually guarantee specific quantities upfront. Still, they lock in pricing and preferred supplier status. A prime example is the firm pricing long-term agreement (LTA) Park has with MRAS, which runs from 2019 through 2029. This kind of decade-spanning commitment provides significant revenue visibility. Furthermore, Park maintains a perfect supplier scorecard with MRAS, hitting a 12-month rolling composite score of $100.00$ as of the latest reports, which is a huge indicator of relationship strength.

Technical support and co-development for custom material specifications.

When you're supplying specialized materials, you're inherently involved in the customer's engineering process. Park Aerospace Corp. is actively engaged in this co-development. For instance, the LTA with MRAS was recently amended to include three proprietary Park film adhesive formulation product forms, which suggests ongoing technical collaboration. Also, Park is a long-term customer of ArianeGroup for their RAYCARB C2®B NG product, which Park uses in critical rocket and missile programs. The relationship is so tight that Park entered a new agreement in early 2025 to advance $4.59$ million euros to ArianeGroup to expand manufacturing capacity, with an initial installment of $1.5$ million already paid. This financial commitment underscores a deep, shared interest in ensuring the supply chain for these critical components remains robust. It's defintely more than just selling parts.

Finance: draft 13-week cash view by Friday.

Park Aerospace Corp. (PKE) - Canvas Business Model: Channels

You're looking at how Park Aerospace Corp. gets its specialized materials and assemblies into the hands of major aerospace and defense players. Honestly, for a company with fiscal year 2025 net sales of \$62,026,000, the channel strategy leans heavily on deep, direct relationships, which is typical when you're dealing with highly specified, critical components.

The primary channel involves a direct sales force targeting global aerospace and defense prime contractors. This approach is necessary because Park Aerospace Corp. works closely with Original Equipment Manufacturers (OEMs) and tier 1 suppliers to get its materials qualified for specific applications, a process that takes significant time and technical engagement. While the company's products go to customers across North America, Europe, and Asia, the sales process is often consultative, focusing on securing spots on long-life programs. For example, sales flowing through to subtier suppliers of GE Aerospace made up 37.7% of total net sales in Fiscal Year 2024, illustrating how much of the direct channel is managed through key program supply chains rather than purely transactional sales. Still, it's worth noting that for the fiscal years 2022, 2023, and 2024, no single customer accounted for 10% or more of total worldwide sales, suggesting a diversified, albeit concentrated, direct customer base.

The international distribution network for material sales in Asia and Europe acts as a crucial secondary channel, especially for materials. Park Aerospace Corp. has established partners to serve these regions, which is vital given the global nature of modern aerospace production. A concrete example of a distribution role is Park Aerospace Corp. serving as the exclusive North American Distributor for ArianeGroup's RAYCARB C2®B NG, which is used in critical rocketry and missile systems. Furthermore, in Q4 of fiscal year 2025, the company recorded \$4.4 million in sales of C2B fabric under the ArianeGroup Business Partner Agreement, highlighting the revenue impact of these specialized agreements that often function as distribution channels for specific products. Distribution partners are also in place for specific territories, such as AeroSpheres, Inc. covering Israel and India.

Direct shipments from the Newton, Kansas manufacturing facility form the backbone of the fulfillment channel. The company's manufacturing facilities for aerospace composite materials and structures are located there. When a prime contractor or a direct customer places an order for custom-fabricated parts, structures, assemblies, or even bulk material, the product moves directly from this Kansas hub to the customer's assembly line or fabrication site. This direct fulfillment model helps maintain tight control over quality and delivery schedules, which is paramount for aerospace components. The latest trailing twelve-month revenue as of August 31, 2025, was reported at \$63.13 Million, all of which is routed through these established direct and distribution channels originating from production sites like Newton.

Here's a quick look at some key figures related to Park Aerospace Corp.'s customer and channel structure:

Metric	Value/Percentage	Context/Period
FY2025 Net Sales	\$62,026,000	Full Fiscal Year Ended March 2, 2025
TTM Revenue	\$63.13 Million	As of August 31, 2025
GE Aerospace Subtier Supplier Sales Share	37.7%	FY2024 Net Sales
Top Five Customers Share of Net Sales	Not explicitly stated for FY2025	FY2024 Figure was 64% (Top Ten)
Q4 FY2025 ArianeGroup Fabric Sale	\$4.4 million	Single Quarter Material Sale

The company's channel strategy is supported by its operational focus, which includes:

• Working closely with OEMs to qualify materials.
• Maintaining a global footprint serving North America, Europe, and Asia.
• Focusing on difficult, small, or niche orders others avoid.
• Utilizing specialized agreements, like the ArianeGroup partnership.

The reliance on long-term qualification processes means that once a channel is established for a program, switching costs for the customer are high. Finance: draft 13-week cash view by Friday.

Park Aerospace Corp. (PKE) - Canvas Business Model: Customer Segments

You're analyzing Park Aerospace Corp. (PKE)'s customer base as of late 2025, and the numbers show a clear, balanced focus across the aerospace and defense spectrum. The total revenue for the fiscal year ending March 2, 2025, was reported at $62.0 million, up from $56.0 million in the prior fiscal year. This revenue is distributed across four primary customer groupings.

The largest segment, Commercial Aircraft OEMs, accounted for approximately 48% of the total FY2025 revenue. This segment is crucial, though the mix is shifting slightly toward defense. Park Aerospace Corp. remains a sole source supplier for composite materials for engine nacelles and thrust reversers for multiple programs with GE Aerospace, a key partner in this space.

The Military/Defense Prime Contractors segment is nearly as significant, representing about 42% of the FY2025 revenue. This segment generated approximately $26.1 million in FY2025. Within this military grouping, the product applications are diverse:

• Rocket nozzles accounted for 44% of the military segment revenue.
• Aircraft structures made up 33% of the military segment revenue.
• Drones (Unmanned Aerial Vehicles or UAVs) contributed 16%.
• Radomes represented the remaining 7%.

The third segment, Business and General Aviation Manufacturers, rounds out the core aerospace business, contributing approximately 10% of the total FY2025 revenue. This includes materials for business jets and general aviation aircraft structures.

A critical, high-growth area within the defense focus is the Missile and Rocket Motor Manufacturers. Park Aerospace Corp. is a sole and key supplier of critical composite materials for major missile systems. This customer group is driving significant near-term opportunity, evidenced by a recent blanket purchase order from a key OEM partner for up to $40 million of C2B fabric, which is about 65% of the company's total annual revenues. Specific programs mentioned include the Patriot PAC-3 and Israel's Arrow 4 programs, with qualification efforts underway for Arrow 3. Missile Shipments specifically totaled $600,000 in Q2 fiscal year 2025.

Here is a breakdown of the FY2025 revenue distribution based on the reported percentages and total FY2025 sales of $62.0 million:

Customer Segment	Approximate FY2025 Revenue Percentage	Estimated FY2025 Revenue Amount
Commercial Aircraft OEMs	48%	$29.76 million
Military/Defense Prime Contractors	42%	$26.04 million (Reported segment total: $26.1 million)
Business and General Aviation Manufacturers	10%	$6.20 million

The top five customers for Park Aerospace Corp. in Q4 FY2025 included several major players and their subcontractors:

• Aerojet Rocketdyne
• Kratos Defense and Security Solutions (NASDAQ:KTOS)
• Middle River Aerostructure Systems (MRAS)
• Tex Tech Industries
• The Nordam Group

Finance: review the cash flow impact of the $40 million blanket order against planned capital expenditures for facility expansion by next Tuesday.

Park Aerospace Corp. (PKE) - Canvas Business Model: Cost Structure

You're looking at the hard costs Park Aerospace Corp. (PKE) is managing right now, especially as they bring that new facility online. It's not just about the direct stuff; there are significant fixed and one-time hits that shape the margin profile.

The Cost of Goods Sold (COGS) component is under pressure from inflation. Park Aerospace Corp. has noted experiencing inflation in raw material and other costs, though they've managed to pass some of that through via pricing adjustments for a large portion of sales. The dependency on a relatively small number of customers, with sales to GE Aerospace affiliates and non-affiliates accounting for 37.7% of total worldwide net sales in fiscal year 2024, means customer contract terms heavily influence the absorption of these input costs.

For the fourth quarter of fiscal year 2025, the Cost of Revenue was approximately $11.98 million, derived from the reported $16.94 million in revenue and the 29.3% gross margin for that period. Manufacturing labor costs are embedded within this COGS figure, alongside raw materials.

Significant manufacturing overhead includes planned capital expense depreciation. You should factor in the $1,260,000 annual depreciation expense specifically tied to the new production facility. This is a fixed cost that needs to be absorbed by production volume.

Ramping-up costs for the new production facility are definitely impacting margins temporarily. The company noted significant ongoing expenses related to bringing the new capacity online. This is reflected in the margin performance, even as production exceeded sales by about $1.4 million in Q4 FY25, which helped boost the gross margin to 29.3% that quarter.

Then you have the special, non-recurring charges that hit the bottom line. For the full fiscal year 2025, Park Aerospace Corp. recorded $1,098,000 of pre-tax charges related to storm damage at the Newton, Kansas facilities. This is a clear example of an unbudgeted cost event.

Here's a quick look at the specific, non-operational charges and the key overhead depreciation figure you need to track:

Cost Component	Amount	Fiscal Period Reference
Pre-tax Storm Damage Charge	$1,098,000	FY2025
Annual Depreciation Expense (New Facility)	$1,260,000	Annualized Figure
Pre-tax Storm Damage Charge (Q2 Specific)	$46,000	Q2 FY2025
Pre-tax Storm Damage Charge (Q1 Specific)	$1,052,000	Q1 FY2025

The cost structure also includes other non-operational items that management often strips out for adjusted views, like the non-cash tax charge recorded in Q4 FY2025. You should watch for these items when comparing GAAP versus non-GAAP performance metrics.

• Inflation in raw material and supply costs is an ongoing risk.
• Manufacturing labor costs are a key component of COGS.
• The new facility's ramp-up is a temporary, but significant, operating expense drag.
• The $1,260,000 annual depreciation is a non-cash, fixed overhead component.
• The $1,098,000 FY2025 storm charge is a material, one-time expense.

To be fair, the company is planning a major new expansion, a capital budget of plus or minus $5 million around $35 million, which will introduce new depreciation and overhead costs once operational, though the expected ROI is described as very significant.

Finance: draft 13-week cash view by Friday.

Park Aerospace Corp. (PKE) - Canvas Business Model: Revenue Streams

You're looking at the top-line drivers for Park Aerospace Corp. as of late 2025. The business model centers on generating revenue through the sale of highly engineered, specialized materials and the subsequent fabrication of complex parts and structures for the aerospace industry. This dual approach-materials and manufacturing-is key to their revenue generation.

The overall financial performance for the most recently completed fiscal year shows solid growth. Total net sales for Fiscal Year 2025 were $62.0 million, which represented a year-over-year increase of 10.7% compared to the $56.0 million in net sales for Fiscal Year 2024. This growth reflects strong demand across their served markets.

The revenue streams are segmented by product type and end-market application. The core material sales are the foundation, but the higher-value fabrication work is increasingly important. Here's how the revenue streams break down:

• Sales of advanced composite materials (film adhesives, prepregs).
• Sales of specialty ablative and radome materials for defense systems.
• Sales of composite parts, structures, and low-volume tooling.

The advanced composite materials segment includes proprietary products like the Aeroadhere® structural film adhesives and Electroglide® lightning strike protection materials. Park Aerospace Corp. also sells various prepregs, such as the E-752-MTS epoxy system for primary structures and E-717 prepregs for sandwich panels. These materials are available in forms like broadgoods, unidirectional tapes, and molding compounds, utilizing reinforcements such as carbon, quartz, and silica.

Revenue tied to defense systems is significant, with military applications accounting for 42% of the total FY2025 revenue, or approximately $26.1 million. This stream directly supports the sales of specialty ablative and radome materials. The company is the exclusive North American distributor for ArianeGroup's RAYCARB C2®B carbonized rayon fabric, which is used in high-temperature ablative applications. Ablative materials sales using this C2B fabric generated $0.42 million in the fourth quarter of FY2025 alone.

The revenue mix across the primary aerospace segments for Fiscal Year 2025 was:

Market Segment	FY2025 Revenue Percentage	Approximate FY2025 Revenue (Millions USD)
Commercial Aircraft	48%	$29.76
Military Applications	42%	$26.04
Business Aircraft	10%	$6.20

Within the military segment, the revenue is further diversified across specific defense platforms and components. This diversification helps Park Aerospace Corp. manage program-specific risks. The breakdown of the military revenue stream in FY2025 was:

Military Application	Percentage of Military Revenue	Approximate Revenue from Application (Millions USD)
Rocket Nozzles	44%	$11.48
Aircraft Structures	33%	$8.61
Drones (UAVs)	16%	$4.18
Radomes	7%	$1.83

The sales of composite parts, structures, and low-volume tooling represent the manufacturing revenue stream, complementing the material sales. This includes proprietary strut designs like SIGMASTRUT™ and ALPHASTRUT™, which are used for prototype aircraft, special mission aircraft, and spares. The company's objective here is to take on work that others find too difficult, too small, or too annoying, which often commands premium pricing for their unique capabilities, such as their NADCAP accreditation for both materials and structures.

A notable component of the materials revenue is the distribution agreement for the RAYCARB C2®B fabric, which is a key input for some of their ablative products. Total sales of this C2B fabric for FY2025 reached $7.5 million, with $4.4 million occurring in the fourth quarter alone. The revenue from ablative materials manufactured using C2B fabric in Q4 FY2025 was $0.42 million.

Finance: draft 13-week cash view by Friday.