Greenbriar Equity Group is steering Applied Aerospace & Defense toward a U.S. public debut, targeting a valuation of $3.59bn. The company will list on the NYSE under ticker AADX, with Morgan Stanley and Jefferies underwriting the offering. The move follows a year‑long build‑out that merged Applied Aerospace, founded in 1954, with PCX Aerosystems, dating to 1900.

Since its formation, the combined firm has added Consolidated Boring, Vestigo Aerospace, and Rainwater Holdings, expanding manufacturing reach and technical depth. It produces fuselages, flight‑control surfaces, rocket motor cases, and engine shafts for space and defense customers, positioning it amid rising NATO budgets and Middle East tensions that keep the sector attractive to issuers.

The listing arrives after recent NYSE debuts by Arxis, AEVEX, and Hawkeye 360, offering pricing benchmarks for Applied Aerospace & Defense. Investors will view the deal as evidence that defense‑centric aerospace suppliers can command premium valuations amid geopolitical headwinds. The IPO will provide liquidity for Greenbriar’s shareholders and a platform for further growth.

The IPO will also give the company room to deepen its footprint in both commercial aerospace and defense supply chains, potentially attracting larger contracts from U.S. and allied governments. Analysts note that the deal’s timing aligns with a broader trend of defense‑related firms going public to tap disciplined capital markets.