# Who are Karman Holdings's customers? Who does Karman Holdings earn revenue from?
Canonical: https://valuechain.wiki/karman · Facet: customers · Updated: 2026-07-12T08:23:15.298703+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Karman Holdings's confirmed revenue counterparties include Lockheed Martin, Kratos plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 3 revenue edges, backed by 3 dated sources, 1 of them primary filings (as of 2026-07-12).

### Lockheed Martin (high)  → /lockheed-martin.md
- metric: revenue context $472M · 2025 · 2025 total revenue (+37%)
- note: Supplies propulsion and payload-protection systems to primes like Lockheed Martin — high qualification barriers make it recurring revenue over each program's life once spec'd in.
- [confirms] StockTitan (EN, filing, published 2026-03-01) https://www.stocktitan.net/sec-filings/KRMN/10-k-karman-holdings-inc-files-annual-report-061bcdd95748.html: "Propulsion and payload to primes (Lockheed, Northrop)."
- [confirms] Renaissance Capital (EN, news, published 2025-02-01) https://www.renaissancecapital.com/IPO-Center/News/109161/Space-and-defense-contractor-Karman-sets-terms-for-$400-million-IPO: "Propulsion and payload to primes (Lockheed, Northrop)."

### 노스럽·프라임 (추진·페이로드) (high)
- note: Supplies propulsion, interstage and payload protection to primes like Northrop Grumman — a trusted supplier riding the missile production ramp.
- [confirms] StockTitan (EN, filing, published 2026-03-01) https://www.stocktitan.net/sec-filings/KRMN/10-k-karman-holdings-inc-files-annual-report-061bcdd95748.html: "Propulsion, interstage and payload protection to Northrop and other primes."
- [confirms] Trive Capital (EN, research, published 2025-02-13) https://www.trivecapital.com/trive-backed-karman-space-defense-completes-successful-ipo/: "Propulsion, interstage and payload protection to Northrop and other primes."

### Kratos (mid)  → /kratos.md
- note: Supplies propulsion and payload to Kratos's hypersonic/missile programs — customer diversification into an emerging defense OEM.
- [confirms] StockTitan (EN, filing, published 2026-03-01) https://www.stocktitan.net/sec-filings/KRMN/10-k-karman-holdings-inc-files-annual-report-061bcdd95748.html: "Supplies propulsion and payload to Kratos hypersonics/missiles."

Reverse side: https://valuechain.wiki/karman/suppliers.md · Ripple: https://valuechain.wiki/karman/ripple.md

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Full node: https://valuechain.wiki/karman.md · JSON: https://valuechain.wiki/karman.json