HMH supplies drilling equipment, spare parts, and aftermarket services for offshore and onshore oil and gas drilling rigs. The company operates through two primary product categories: pressure control systems and topside drilling equipment. Its pressure control offerings include safety-critical blowout preventers, subsea drilling risers, and control systems, while its topside portfolio comprises top drives, drawworks, derricks, pipe handling systems, and mud pumps. HMH sells primarily to drilling contractors, exploration and production operators, and shipyards. The company's business model relies on monetizing its global installed base through recurring aftermarket services, spare parts sales, and new equipment projects. Regulatory mandates and safety requirements necessitate regular original equipment manufacturer recertification and maintenance, driving steady aftermarket demand. HMH also provides multi-year contractual service agreements to secure recurring service revenue. The company's strategy focuses on capturing offshore rig reactivation demand, developing automated and electric drilling systems, expanding into adjacent mining slurry pumps, and executing targeted acquisitions.