Space and defense contractor York Space Systems has filed to raise up to $544 million in a U.S. IPO. The company is backed by private equity firm AE Industrial Partners, which has been growing its portfolio in aerospace and defense. This move positions York to tap public markets for capital as demand for space-based services grows.

The filing comes amid a heated market for space technology firms, driven by increased government and commercial satellite contracts. York's business model focuses on building satellites and providing related services for national security and communications. Going public would provide funds to scale operations and compete with larger, established players in the sector.

Investors will watch for the company's valuation and growth strategy in the prospectus. The IPO's success depends on market conditions and York's ability to secure long-term government contracts. A successful offering could pave the way for other mid-tier space contractors to follow suit, testing public appetite for defense-tech investments.