# Who are Mercury Systems's customers? Who does Mercury Systems earn revenue from?
Canonical: https://valuechain.wiki/mercury-systems · Facet: customers · Updated: 2026-07-12T04:19:36.776438+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Mercury Systems's confirmed revenue counterparties include RTX, Lockheed Martin plus 2 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 4 revenue edges, backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).

### RTX (high)  → /rtx.md
- metric: Market share 13% · FY2025 · 10-K
- note: Supplies signal-processing subsystems into Raytheon (RTX) radars - largest customer at 13% of FY2025 revenue. Feb 2024: up to $96M, three-year LTAMDS subcontract covering nine radars for the US Army and Poland.
- [confirms] SEC EDGAR (EN, filing, published 2025-08-11) https://www.sec.gov/Archives/edgar/data/1049521/000104952125000024/mrcy-20250627.htm: "RTX comprised 13%, 10%, and 14% of revenues in FY2025/2024/2023."
- [confirms] GlobeNewswire (EN, ir, published 2024-02-01) https://www.globenewswire.com/news-release/2024/02/01/2822461/18849/en/Mercury-Awarded-Subcontract-for-the-U-S-Army-s-Next-Generation-LTAMDS-Radar-System.html: "Up to $96M three-year subcontract with Raytheon for nine LTAMDS radars."

### Lockheed Martin (high)  → /lockheed-martin.md
- metric: Market share 10% · FY2025 · 10-K (11% FY2024, 13% FY2023)
- note: Defense processing and RF subsystems to primes like Lockheed Martin — representative of the prime channel (80%+ of revenue).
- [confirms] SEC EDGAR (EN, filing, published 2025-08-11) https://www.sec.gov/Archives/edgar/data/1049521/000104952125000024/mrcy-20250627.htm: "Lockheed Martin comprised 10%, 11%, and 13% of revenues in FY2025/2024/2023."
- [confirms] StockTitan (EN, news, published 2025-08-05) https://www.stocktitan.net/sec-filings/MRCY/10-k-mercury-systems-inc-files-annual-report-15b1f5a2f73a.html: "Defense processing and RF subsystems to primes (80%+)."
- [confirms] GlobeNewswire (EN, ir, published 2022-05-10) https://www.globenewswire.com/news-release/2022/05/10/2440260/18849/en/Mercury-Systems-and-Lockheed-Martin-sign-memorandum-of-agreement-to-collaborate-on-sensor-processing-technology-in-Switzerland.html: "Potential lifetime value of $40M, supporting Lockheed's offset for Switzerland's 36 F-35As."

### 미 해군 (US Navy) (high)
- metric: Market share 10% · FY2025 · 10-K
- note: Direct end customer at 10% of FY2025 revenue; below the 10% disclosure line in FY2023-24.
- [confirms] SEC EDGAR (EN, filing, published 2025-08-11) https://www.sec.gov/Archives/edgar/data/1049521/000104952125000024/mrcy-20250627.htm: "The US Navy comprised 10% of revenues in FY2025."

### 프라임·방산 (미션컴퓨팅) (high)
- note: Rugged mission computing and RF to prime defense firms (300+ programs in 35 countries) — the core generating 80%+ of revenue.
- [confirms] MatrixBCG (EN, research, published 2026-01-01) https://matrixbcg.com/blogs/how-it-works/mrcy: "Rugged computing and RF to prime defense firms (300+ programs)."
- [confirms] SEC EDGAR (EN, filing, published 2025-08-05) https://www.sec.gov/Archives/edgar/data/0001049521/000104952125000022/a2025q4earningsreleaseex.htm: "Rugged computing and RF to prime defense firms (300+ programs)."

Reverse side: https://valuechain.wiki/mercury-systems/suppliers.md · Ripple: https://valuechain.wiki/mercury-systems/ripple.md

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