Park Aerospace Expands Kansas Facilities Amid Defense Sector Growth

Published 10 hours agoPKE

Park Aerospace Expands Kansas Facilities Amid Defense Sector Growth

Park Aerospace Corp. has significantly expanded its manufacturing capabilities with a $20 million expansion of its Newton, Kansas facilities. This addition, which includes 90,000 square feet of new manufacturing, laboratory, and office space, almost doubles the size of the existing setup. The expansion reflects strong growth and momentum in the defense sector, Read more about it on the company's press release.

The expanded facilities have received full qualification and approval from Park Aerospace's largest customer, which is essential for production on all of its aircraft programs. The first production run in the new space took place on April 19, 2023, marking a major operational milestone. The expansion is strategically designed as a redundant setup to ensure consistent support for critical aircraft programs, for which Park Aerospace is a sole-source supplier.

Park Aerospace’s advanced composite materials are vital in numerous aerospace applications, supporting primary and secondary structures in various aircraft and jet engines. The company, known for supplying key components for projects like the F-35 Joint Strike Fighter and F/A-18 Super Hornet, has also shown robust financial growth, with a return on assets increasing from 3% in 2016 to 15% in 2023. Valens Research documents these achievements, noting Park Aerospace's pivotal role in the aerospace and defense sectors.

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