York Space Systems in Depth
A Bull Thesis. Ticker $YSS, an early 2026 Space IPO.
Welcome to Last Futurist Capital, where I think about emerging technologies. I analyze startups and like to get in early.
As I cover emerging tech stocks, the Space-tech SPACs and IPOs of 2026 and 2027 are ones I’m watching in particular. York Space Systems really stands out as a fairly high quality although already down 21% so far already in 2026.
There aren’t many Space IPOs that have as much national defense intersection (and concentration risk) as this small satellite builder. As we know National Defense spending is going to skyrocket likely beginning in 2027, this is quite a serious company for Golden Dome funds, contracts and future orders.
York Space Systems, a satellite manufacturer that recently went public (YSS), is viewed as a high-growth player in the defense sector, praised for rapid, low-cost production.
Majority Equity Investor
If you believe in the Space vision of AE Industrial partners (this has to be one of your key convictions if you want to invest in this stock), then this is a great pick. Do your due diligence. Careful now - AE Industrial Partners (AEI), a private equity firm specializing in aerospace and defense, is the largest investor and majority shareholder in York Space Systems. AEI acquired a 51% stake in 2022 and, as of early 2026, retains significant voting power in the company
Market Leadership & Strategic Position
York Space is nearly entire dependent on lucrative DoD orders.
Top DoD Provider: York identifies as the number one provider to the U.S. Department of Defense’s (DoD) Proliferated Warfighter Space Architecture (PWSA) by number of spacecraft operating.
Space & Defense Prime: Unlike many startups that act as subcontractors, York operates as a “prime” contractor, providing end-to-end mission solutions for national security, government, and commercial customers.
Controlled Company: Following the IPO, the company will be a “controlled company,” with investment funds managed by AE Industrial Partners holding a majority of the voting power.
A Short Notice on my Price Target
I consider Space-tech companies that are National Defense centric to be moderately safer bets in the 2026 to 2029 period when the industry is still fairly nascent. Geopolitical events in the upcoming years could shape how early Space companies scale considerably. Especially before the SpaceX IPO (likely in June) that opens up the floodgates of space related capital and investments.
