Industry veteran Jon Rambeau, the new chief executive of Karman Space & Defense, says he has two very straightforward goals: strengthening national defense and advancing space exploration.
Karman, boasting a market cap close to $14 billion, is a key player in Southern California’s growing military-focused sector.
“At a moment when rapid solution delivery is critical to the nation, Karman remains positioned to respond,” Rambeau said in a March 12 announcement of his new post.
It’s a surprising development, as Rambeau is succeeding Tony Koblinski, who in 2021 took over a company built through four acquisitions. Since it went public in 2025, its market cap has risen almost fivefold to $14 billion. Analysts have predicted that sales grew 36% to $469 million in 2025 and will accelerate another 51% this year to $710.5 million.
The company said Koblinski, who will remain on the board, “is retiring after a successful 40-year career in leadership.”
“Tony Koblinski led Karman on an incredibly successful growth trajectory since its founding in 2020, culminating in its IPO, four subsequent acquisitions, and its position as a trusted partner by more than 80 customers across both space and defense markets,” Chairman David Stinnett said in a statement.
Shares declined 5.6% on the news of Koblinski’s department; however, by press time, they rebounded to about $104.06 (NYSE: KRMN).
The Business Journal in January named Koblinski as its Businessperson of the Year in the technology category. Koblinski, who was 65 at the time of last year’s IPO, told the Business Journal that humility was a big secret to his success.
“It comes down to building great teams,” he said. “That’s what we’ve done at Karman—brought together exceptional people who care about our mission and each other.”
Trump’s Military Spending
Karman is certain to benefit from President Donald Trump’s renewed emphasis on military spending, heightened by the costly war against Iran.
Karman’s mission-critical products include components for military and aerospace systems, protection shielding for payloads sent into outer space and propulsion systems for military use. It has three key families: Payload Protection and Deployment Systems, Aerodynamic Interstage Systems and Propulsion Systems.
Its customers, none of whom account for more than 10% of its revenue, include Northrop Grumman, Lockheed Martin and NASA.
In addition to its defense work, Karman also serves an array of commercial space and aerospace customers.
Chairman Stinnett said that the “board conducted a rigorous search for a CEO who can lead Karman through this next period of significant growth.”
Rambeau previously held top executive positions at defense giants Lockheed Martin and L3Harris Technologies, where he most recently served as president of L3’s $8 billion Communications & Spectrum Dominance segment.
Rambeau holds a bachelor of science degree in mechanical engineering from Drexel University and a master of science in technology management from the Wharton School and the University of Pennsylvania’s College of Engineering and Applied Science.
Karman, officially known as Karman Holdings Inc., also is moving into underwater systems in addition to airborne and outer space products.
Karman is scheduled to release fourth-quarter and full-year earnings on March 25.
Koblinski Built Up Company
The company operates approximately 730,000 square feet of design, engineering and manufacturing space spread throughout the Western U.S., including 125,000 square feet in Huntington Beach and another 85,000 square feet in Brea and 22,000 square feet in Santa Ana.
Its largest facility, at 175,000 square feet, is located in South El Monte; it also has a 75,000 square foot facility in Corona.
It employs about 1,700 people.
Karman is part of a thriving aerospace and defense industry in Orange County.
They include upstarts Anduril Industries in Costa Mesa and Dzyne Technologies in Irvine as well as long-established companies such as Ducommun in Santa Ana, Parker Aerospace in Irvine and Boeing with its local base in Seal Beach and Huntington Beach.
In November 2024, Karman announced a collaboration with Anduril to develop, test and deliver the rocket motor casing for ultra-fast “hypersonic” missiles.
Karman said it was a “key supplier” of hardware for the Vulcan rocket developed by a joint venture of Boeing and Lockheed Martin.
The Surf City firm said Jan. 7 that it plans to pay $220 million for a pair of companies that will help it expand into submarine and maritime defense technologies. They include sonar, underwater propulsion and “missile and amphibious strategic launch products.”
Karman Plans State of the Art Facility in Salt Lake City
Karman Space & Defense said March 10 it will open a new state-of-the-art-facility in the greater Salt Lake City area to expand its advanced drone launcher systems and solid rocket motor nozzle production capacity to meet substantial increases in customer demand.
The company also announced it has invested more than $15 million over the past 12 months to expand production capacity at its existing manufacturing facilities, in addition to its $5 million investment matched by the Defense Department.
“Karman understands the urgency to increase critical U.S. and allied military capabilities to ensure preparedness for peer and near-peer threats. We are investing in more capacity and capabilities to support our customers’ aggressive production plans with proven content and performance,” said Jonathan Beaudoin, chief operating officer.
He said the new Utah factory will quadruple the company’s capacity to deliver the most reliable and effective launch systems for leading loitering missile and counter-UAS programs.
