# If Thales moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/thales · Facet: ripple · Updated: 2026-07-12T04:14:15.994+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, Thales is directly linked to 5 companies (0 supply, 4 revenue, 4 investment relationships) and reaches 20 companies within two hops; the links are backed by 9 dated sources, 1 of them primary filings (as of 2026-07-12).

Thales operates across France's defence, avionics and space prime. It is -7.5% in 2026. The demand side (avg +37.2%) leads the stock (-7.5%), so customer moves come first here. Among connected nodes the furthest ahead is Iridium Communications (+174.2%) and the furthest behind is SES S.A. (-28.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Owned roughly 26% each by the French State and Dassault Aviation, it also reaches into the space chain through its satellite arm Thales Alenia Space, a 67/33 joint venture with Leonardo.

## Demand chain (leading)
- T1 Boeing (https://valuechain.wiki/boeing.md)
- T2 SES S.A. (https://valuechain.wiki/ses.md)
- T2 Viasat (https://valuechain.wiki/viasat.md)
- T3 Delta Air Lines (https://valuechain.wiki/delta-air-lines.md)
- T2 United Parcel Service, Inc. (https://valuechain.wiki/united-parcel-service.md)
- T3 Amazon (https://valuechain.wiki/amazon.md)
- T3 W. W. Grainger (https://valuechain.wiki/w-w-grainger.md)
- T3 Williams-Sonoma, Inc. (https://valuechain.wiki/williams-sonoma.md)
- T2 FedEx (https://valuechain.wiki/fedex.md)
- T3 AutoZone (https://valuechain.wiki/autozone.md)
- T2 United Airlines Holdings, Inc. (https://valuechain.wiki/united-airlines-holdings.md)
- T3 JPMorgan Chase (https://valuechain.wiki/jpmorgan-chase.md)
- T1 Airbus (https://valuechain.wiki/airbus.md)
- T2 Eutelsat Group (https://valuechain.wiki/eutelsat.md)
- T2 Voyager Technologies (https://valuechain.wiki/voyager-technologies.md)
- T1 Iridium Communications (https://valuechain.wiki/iridium.md)
- T2 Garmin (https://valuechain.wiki/garmin.md)
- T3 Textron (https://valuechain.wiki/textron.md)

## Supply chain (benefiting)
- T1 Airbus (https://valuechain.wiki/airbus.md)
- T2 GE Aerospace (https://valuechain.wiki/ge-aerospace.md)
- T3 Howmet Aerospace (https://valuechain.wiki/howmet-aerospace.md)
- T2 RTX (https://valuechain.wiki/rtx.md)
- T3 L3Harris (https://valuechain.wiki/l3harris.md)
- T3 Northrop Grumman (https://valuechain.wiki/northrop-grumman.md)
- T3 MDA Space (https://valuechain.wiki/mda-space.md)
- T3 Hanwha Aerospace (https://valuechain.wiki/hanwha-aerospace.md)
- T3 Avio (https://valuechain.wiki/avio.md)
- T3 Mercury Systems (https://valuechain.wiki/mercury-systems.md)
- T2 Voyager Technologies (https://valuechain.wiki/voyager-technologies.md)
- T3 Mitsubishi (https://valuechain.wiki/mitsubishi.md)
- T3 Palantir Technologies (https://valuechain.wiki/palantir.md)
- T2 Leonardo S.p.A. (https://valuechain.wiki/leonardo.md)
- T3 AMETEK, Inc. (https://valuechain.wiki/ametek.md)
- T2 Korea Aerospace Industries (https://valuechain.wiki/kai.md)
- T3 Lockheed Martin (https://valuechain.wiki/lockheed-martin.md)
- T2 ArianeGroup (https://valuechain.wiki/arianegroup.md)
- T2 Toray Industries (https://valuechain.wiki/toray-industries.md)
- T2 Parker-Hannifin Corporation (https://valuechain.wiki/parker-hannifin.md)
- T3 Microsoft (https://valuechain.wiki/microsoft.md)
- T2 TransDigm Group Incorporated (https://valuechain.wiki/transdigm-group.md)
- T3 BNY Mellon (https://valuechain.wiki/bny-mellon.md)
- T3 Goldman Sachs (https://valuechain.wiki/goldman-sachs.md)
- T2 Honeywell Aerospace Inc. (https://valuechain.wiki/honeywell-aerospace.md)
- T3 Honeywell Technologies (https://valuechain.wiki/honeywell-technologies.md)

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