INNOVATIVE SOLUTIONS & SUPP Business Summary

Innovative Solutions & Support, Inc. (ISSC), operating as Innovative Aerosystems, is a premier aerospace manufacturer specializing in advanced flight deck systems, navigation radios, and utility management solutions for commercial, business, and military aviation. The company generates revenue through a dual-stream model comprising high-margin product sales—including retrofits and OEM integrations—and specialized engineering services. Its primary business segments are categorized into Commercial Aftermarket, which drives growth through cockpit upgrades and the recent acquisition of the S-TEC 3100 Autopilot line, and Defense, bolstered by the strategic acquisition of Honeywell’s F-16 avionics product lines. ISSC competes directly with mid-tier aerospace electronics firms such as Astronics Corporation, TAT Technologies, and Park Aerospace; it distinguishes itself through a capital-light operational structure and a dominant niche in life-extension avionics for legacy platforms. The company was founded in 1988 by the late Geoffrey S. M. Hedrick, a prolific inventor with over 100 patents who established the firm’s technical foundation. Current leadership is headed by CEO Dr. Shahram Askarpour, a 40-year industry veteran and former Smiths Aerospace executive who has been with the company since 2003, and CFO Jeff DiGiovanni, who joined in 2024 to oversee aggressive M&A integration. The technical roadmap is directed by CTO Maurey Freifelder, focusing on next-generation Utility Management Systems (UMS). The board is chaired by Glen Bressner and includes high-profile members such as Major General Garry Dean and Denise L. Devine. Notable institutional backing includes Marshall Wace LLP, Punch & Associates, and Vanguard, reflecting strong market confidence in the firm’s transition toward a $250 million annual revenue target.