Espey designs and manufactures power electronics products for military and rugged industrial applications. The company's products include power supplies, converters, transformers, filters, power distribution equipment, UPS systems, and antennas, which convert, condition, and distribute electrical power for shipboard, airborne, radar, and locomotive systems. Espey operates as a vertically integrated manufacturer, handling fabrication, printed circuit board assembly, metalwork, wiring, and testing in-house. The business is primarily custom-order driven, developing tailored equipment to customer specifications as well as providing build-to-print manufacturing. Espey sells directly and through sales representatives to prime defense contractors, the U.S. Department of Defense, foreign militaries, and industrial manufacturers. Espey's business model relies on winning upfront design and development contracts, which position the company to secure multi-year, recurring follow-on production orders once equipment is qualified. Its growth strategy focuses on securing new engineering programs to build its pipeline of long-term production manufacturing, while selectively expanding build-to-print work and international defense sales.