York Space Systems began trading as a public company on Thursday, with its founder and chief executive pointing to growing U.S. defense spending and President Donald Trump’s proposed “Golden Dome” missile defense initiative as a major growth opportunity.
The Denver-based satellite manufacturer opened trading on the New York Stock Exchange at $38 a share, up 11.7% from its initial public offering price of $34, valuing the company at about $4.75 billion. Shares later reversed gains and closed at $33.61, down 1.15% on the day.
Founder and CEO Dirk Wallinger said York’s experience integrating satellite systems positions it to support the Trump administration’s proposed missile defense architecture, announced in May.
“Golden Dome is essentially making disparate systems that weren’t intended to talk to one another, talk to one another, which is what we do,” Wallinger said in an interview with CNBC. “York’s already delivering on that, so we’re looking for the opportunity to deliver on the Golden Dome for our country.”
York Space Systems has built and deployed low Earth orbit satellites for the U.S. Space Development Agency, including 21 spacecraft launched in September. The company has completed 74 space missions since it was founded in 2012 and works primarily with the U.S. Department of Defense.
The space and defense technology sector has attracted growing investor interest as Washington increases its focus on military modernization and space-based capabilities. Several companies in the sector went public last year, and industry executives expect momentum to continue into 2026.
Wallinger said a potential public listing by SpaceX would further boost investor attention across the sector. “I think there’s a lot of excitement in the market for defense tech and space,” he said.
Trump’s proposed Golden Dome missile defense system has been estimated by the Congressional Budget Office to cost as much as $831 billion, significantly expanding demand for satellite-based sensing, communications and command-and-control systems.
Wallinger said York’s business extends beyond manufacturing spacecraft. “Historically, people kind of view us solely as a spacecraft manufacturer, but we’re really a complete, holistic solution,” he said. “And that kind of turnkey solution is really what national defense needs.”
