# Who are Voyager Technologies's customers? Who does Voyager Technologies earn revenue from?
Canonical: https://valuechain.wiki/voyager-technologies · Facet: customers · Updated: 2026-07-12T04:54:12.086355+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Voyager Technologies discloses no named confirmed revenue counterparties; 2 relationships are tracked as undisclosed/aggregate. Per the valuechain.wiki graph: 2 revenue edges, backed by 2 dated sources, 1 of them primary filings (as of 2026-07-12).

### NASA (Starlab SAA) (high)
- metric: Contract value $218M · Phase I SAA (누적 수령 $183.2M) · Starlab design development grant (milestones); $183.2M received
- note: NASA funds Starlab design under a $217.5M development grant; $183.2M received cumulatively and $34.3M remaining as of Dec 31, 2025, via Phase I Space Act Agreement milestones.
- [confirms] U.S. SEC EDGAR (EN, filing, published 2026-03-10) https://www.sec.gov/Archives/edgar/data/1788060/000162828026016543/voyg-20251231.htm: "We have also received $183.2 million in cumulative cash proceeds under our $217.5 million NASA development grant to design Starlab, the commercial space station replacement for the ISS, with $34.3 million of grant proceeds [remaining]."

### 미 정부·국방 (계약·하도급) (high)
- metric: Revenue share 86% · FY2025 · US government contracts/subcontracts share of revenue (~$143M)
- note: About 86.0% of FY2025 revenue came from U.S. government contracts/subcontracts (83.9% in 2024). The Defense & National Security segment supplies mission-critical solutions for missile defense, tactical munitions and space propulsion.
- [confirms] U.S. SEC EDGAR (EN, filing, published 2026-03-10) https://www.sec.gov/Archives/edgar/data/1788060/000162828026016543/voyg-20251231.htm: "During the years ended December 31, 2025 and 2024, approximately 86.0% and 83.9%, respectively, of our revenues were derived from contracts with the U.S. government and its agencies or from subcontracts."
- [mentions] Choice News (KO, news, published 2025-06-12) http://www.choicenews.co.kr/news/articleView.html?idxno=148849: "Voyager's main customers are government and defense buyers such as NASA, Lockheed Martin and the U.S. Air Force, drawing attention for a stable government-order-based revenue structure."

### Airbus (high)  → /airbus.md
- metric: Ownership stake 30.5% · as of 2025-03-31 · ownership interest in Starlab JV
- note: Airbus is the second-largest shareholder of the Starlab joint venture. Per Voyager's S-1 (as of 2025-03-31), Voyager holds 67.0% and Airbus 30.5%. Airbus also carries a funding obligation of up to $10 million if the station's cash balance falls below $10 million.
- [confirms] U.S. Securities and Exchange Commission (EN, filing, published 2025-06-02) https://www.sec.gov/Archives/edgar/data/1788060/000162828025029524/voyager-sx1a2.htm: "As of March 31, 2025, we had an ownership interest of 67.0% in Starlab JV, Airbus had an ownership interest of 30.5%, and each of Mitsubishi, MDA Space and Palantir had an ownership interest of less than 1.0%."

### 미쓰비시상사 (Mitsubishi) (high)  → /mitsubishi.md
- note: Mitsubishi Corporation, alongside MDA Space and Palantir, acquired a minority equity interest in Starlab JV; Voyager held a 61.9% interest as of Dec 31, 2025 (nominates 3 directors; Airbus 2). Individual contribution not disclosed.
- [confirms] U.S. SEC EDGAR (EN, filing, published 2026-03-10) https://www.sec.gov/Archives/edgar/data/1788060/000162828026016543/voyg-20251231.htm: "Each of Mitsubishi, MDA Space and Palantir acquired minority interests in Starlab JV. As of December 31, 2025, we had an ownership interest of 61.9% in Starlab JV. Voyager may nominate three directors and Airbus may nominate two."

### MDA 스페이스 (high)  → /mda-space.md
- note: MDA Space, alongside Mitsubishi Corporation and Palantir, holds a minority equity interest in the Starlab JV (Voyager owns 61.9%), linking its Canadarm-heritage robotics to the program. Individual contribution undisclosed.
- [confirms] U.S. SEC EDGAR (EN, filing, published 2026-03-10) https://www.sec.gov/Archives/edgar/data/1788060/000162828026016543/voyg-20251231.htm: "Each of Mitsubishi, MDA Space and Palantir acquired minority interests in Starlab JV."

Reverse side: https://valuechain.wiki/voyager-technologies/suppliers.md · Ripple: https://valuechain.wiki/voyager-technologies/ripple.md

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