Ichor Holdings designs, engineers, and manufactures critical fluid delivery subsystems and precision components primarily for semiconductor capital equipment manufacturers, with secondary applications in defense, aerospace, and medical sectors. The company's offerings include gas delivery systems, chemical delivery subsystems, precision-machined components, specialty welding services, and valves—all engineered to enable advanced semiconductor manufacturing processes such as etching, deposition, and planarization. Ichor generates revenue through direct sales of subsystems and components to original equipment manufacturers on a purchase-order basis, complemented by design, engineering, and manufacturing services; the business benefits from the semiconductor industry's trend of outsourcing specialized fluid delivery expertise to focused suppliers while maintaining global manufacturing facilities positioned near major customers to support just-in-time delivery.