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PAC-3 요격미사일·미사일방어·우주(위성·OPIR)를 통합하며, MACH-TB 하이퍼소닉 테스트베드 페이로드 통합에도 참여한다. DoD 예산을 받아 크라토스·머큐리·테레다인·카르만·L3해리스(에어로젯) 등 하청·부품사로 흘려보내는 방산 체인의 수요 정점이다.","lead_en":"The world's largest defense prime. FY2025 net sales were $75.05 billion (up 5.6%) with a record $193.6 billion backlog. The US government provides 72% of sales (63% from the Department of War) and the F-35 program alone 27%. It spans PAC-3 interceptors, missile defense and space (satellites, OPIR), and participates in MACH-TB hypersonic test-bed payload integration. 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정점이다. DoD 예산을 받아 무그(F-35 액추에이션 $4억+)·L3해리스(PAC-3 MSE 고체모터)·크라토스·머큐리·테레다인·카르만 등 하청·부품사로 흘려보내, 이 노드의 물량이 방산 부품 체인 전체로 파급된다. 성장 동력은 미사일방어·하이퍼소닉·우주(OPIR) 수요와 F-35 지속 생산이며, 리스크는 예산·프로그램 조달 사이클과 고체로켓모터 등 상류 병목이다. 그래프상 이 노드는 F-35·PAC-3를 정점으로 광범위한 하청 층을 끌어당기는 방산 수요 허브다.","analysis_en":"The world's largest defense prime, with record FY2025 net sales of $75.05B (+5.6%) and a $193.6B backlog, where the US government is 72% of sales (63% from the Department of War) and the F-35 alone 27% — the apex of government demand. It flows DoD budgets down to subcontractors and parts makers — Moog (F-35 actuation, $400M+), L3Harris (PAC-3 MSE solid motors), Kratos, Mercury, Teledyne, Karman — so its volume ripples across the whole defense-parts chain. Growth drivers are missile-defense, hypersonic and space (OPIR) demand plus sustained F-35 production; risks are the budget/procurement cycle and upstream bottlenecks like solid rocket motors. On the graph, this node is a defense demand hub that, from the F-35 and PAC-3 apex, pulls in a broad subcontractor layer.","analysis_asof":"2026-07-09"},"edges":[{"direction":"cost","counterparty":"무그","counterparty_slug":"moog","confidence":"high","metric":{"type":"contract_value","unit":"USD million (초과)","as_of":"2019-11-04","basis":"F-35 액추에이션 시스템 공급","value":400,"period":"3년 생산계약","basis_en":"F-35 actuation systems supply"},"note":"록히드마틴은 F-35의 1차 비행제어(EHAS)·앞전플랩·윙폴드 액추에이션 시스템을 무그에서 조달한다. 2019년 공시 기준 3년 생산계약이 4억 달러를 넘는 핵심 하도급 관계다.","note_en":"Lockheed Martin sources the F-35's primary flight control (EHAS), leading-edge flap and wingfold actuation systems from Moog, a key subcontract worth over $400M for three years of production as disclosed in 2019.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회(SEC EDGAR)","publisher_en":"U.S. SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-26","url":"https://www.sec.gov/Archives/edgar/data/0000067887/000162828025054103/mog-20250927.htm","title":"무그 FY2025 연차보고서(Form 10-K)","title_en":"Moog Inc. Form 10-K FY2025","excerpt":"We maintain positions on numerous high priority programs, including the Lockheed Martin F-35 Lightning II.","excerpt_en":"We maintain positions on numerous high priority programs, including the Lockheed Martin F-35 Lightning II."},{"stance":"confirms","publisher":"에어프레이머","publisher_en":"Airframer","kind":"news","lang":"en","published_at":"2019-11-20","url":"https://www.airframer.com/news_story.html?release=72804","title":"Moog announces award of Lockheed Martin production contracts for F-35 Lightning II","title_en":"Moog announces award of Lockheed Martin production contracts for F-35 Lightning II","excerpt":"무그는 록히드마틴으로부터 F-35 라이트닝 II의 주비행조종 작동장치(전기유압식 작동시스템), 리딩엣지 플랩 구동시스템, 윙폴드 작동시스템 계약을 수주했다. 록히드는 향후 3년 F-35 생산분에 4억 달러 넘는 규모로 무그를 계약했다.","excerpt_en":"Moog was awarded Lockheed Martin contracts for the F-35's Primary Flight Control (electro-hydrostatic) actuation, Leading Edge Flap Drive and Wingfold Actuation systems, worth over $400 million across three years of F-35 production."},{"stance":"confirms","publisher":"무그(Moog Inc.)","publisher_en":"Moog Inc.","kind":"ir","lang":"en","published_at":"2019-11-04","url":"https://www.moog.com/news/corporate-press-releases/2019/moog-announces-award-of-lockheed-martin-production-contracts-for.html","title":"무그, 록히드마틴 F-35 생산계약 수주 발표","title_en":"Moog Announces Award of Lockheed Martin Production Contracts for F-35 Lightning II","excerpt":"Lockheed Martin has put Moog under contract for the next three years of F-35 production with a contract value in excess of $400 million dollars. ... the Primary Flight Control Actuation System, also known as the Electro-Hydrostatic Actuation System; the Leading Edge Flap Drive System; and the Wingfold Actuation System.","excerpt_en":"Lockheed Martin has put Moog under contract for the next three years of F-35 production with a contract value in excess of $400 million dollars. ... the Primary Flight Control Actuation System, also known as the Electro-Hydrostatic Actuation System; the Leading Edge Flap Drive System; and the Wingfold Actuation System."}]},{"direction":"revenue","counterparty":"미 국방부·동맹 (F-35·미사일)","counterparty_slug":null,"confidence":"high","metric":{"type":"revenue_share","unit":"%","as_of":"2025-12-31","basis":"미 정부향 매출 비중(국방부 63% 포함), F-35 단일 27%","value":72,"period":"FY2025","basis_en":"US government share of sales (63% from DoW), F-35 alone 27%"},"note":"미 국방부·동맹에 F-35·PAC-3·미사일방어 공급.","note_en":"F-35, PAC-3 and missile defense to the DoD and allies.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회(SEC) EDGAR","publisher_en":"US SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/936468/000162828026004195/lmt-20251231.htm","title":"Lockheed Martin Form 10-K (FY2025)","title_en":"Lockheed Martin Form 10-K (FY2025)","excerpt":"U.S. Government, from which we derived 72% of our sales in 2025, including 63% from the DoW. ... The F-35 program ... represented 27% of our total consolidated sales in 2025. ... At December 31, 2025, our backlog was $193.6 billion.","excerpt_en":"U.S. Government, from which we derived 72% of our sales in 2025, including 63% from the DoW. ... The F-35 program ... represented 27% of our total consolidated sales in 2025. ... At December 31, 2025, our backlog was $193.6 billion."},{"stance":"confirms","publisher":"Lockheed Martin","publisher_en":"Lockheed Martin","kind":"filing","lang":"en","published_at":"2026-01-27","url":"https://investors.lockheedmartin.com/news-releases/news-release-details/lockheed-martin-reports-fourth-quarter-and-full-year-2025/","title":"Lockheed Martin FY2025 실적","title_en":"Lockheed Martin FY2025 results","excerpt":"미 국방부·동맹에 F-35·PAC-3·미사일방어 공급.","excerpt_en":"F-35, PAC-3 and missile defense to the DoD and allies."},{"stance":"confirms","publisher":"Nasdaq","publisher_en":"Nasdaq","kind":"news","lang":"en","published_at":"2026-01-01","url":"https://www.nasdaq.com/articles/lmt-vs-ktos-which-defense-stock-better-positioned-2026","title":"LMT vs KTOS 방산 비교(하청·하이퍼소닉)","title_en":"LMT vs KTOS defense comparison","excerpt":"미 국방부·동맹에 F-35·PAC-3·미사일방어 공급.","excerpt_en":"F-35, PAC-3 and missile defense to the DoD and allies."}]},{"direction":"cost","counterparty":"파이어플라이 에어로스페이스","counterparty_slug":"firefly-aerospace","confidence":"high","metric":{"type":"launch_commitment","unit":"launches (최대)","as_of":"2024-06-05","basis":"Alpha 다회 발사 계약(금액 비공개)","value":25,"period":"2024~2029","basis_en":"Alpha multi-launch agreement (value undisclosed)"},"note":"록히드마틴은 파이어플라이 Alpha 로켓의 다회 발사 구매자다. 2024년 6월 5년간 최대 25회(예약 15회+옵션 10회) 발사 계약을 맺어 자사 위성·신기술 페이로드를 정기적으로 저궤도에 올린다.","note_en":"Lockheed Martin buys multi-launch capacity on Firefly's Alpha rocket: a June 2024 agreement covers up to 25 missions over five years (15 reservations plus 10 options) to routinely launch its spacecraft and new payload technologies to LEO.","sources":[{"stance":"confirms","publisher":"스페이스플라이트나우","publisher_en":"Spaceflight Now","kind":"news","lang":"en","published_at":"2026-05-04","url":"https://spaceflightnow.com/2026/05/04/lockheed-martin-announces-collaboration-with-firefly-aerospace-and-seagate-for-off-shore-launches/","title":"Lockheed Martin joins collaboration with Firefly Aerospace and Seagate for off-shore launches","title_en":"Lockheed Martin joins collaboration with Firefly Aerospace and Seagate for off-shore launches","excerpt":"록히드마틴은 2024년 6월 파이어플라이의 알파 로켓 발사 최대 25회를 구매했고, 2026년 5월에는 파이어플라이, 시게이트와 해상 발사 협력에 합류해 관계를 확장했다. 록히드는 파이어플라이의 발사 서비스를 조달한다.","excerpt_en":"Lockheed Martin purchased up to 25 Firefly Alpha launches in June 2024 and, in May 2026, joined a Firefly-Seagate offshore-launch collaboration, procuring Firefly's launch services."},{"stance":"confirms","publisher":"미국 증권거래위원회(SEC EDGAR)","publisher_en":"U.S. SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-03-20","url":"https://www.sec.gov/Archives/edgar/data/1860160/000119312526116309/fly-20251231.htm","title":"Firefly Aerospace Inc. Form 10-K (회계연도 2025-12-31)","title_en":"Firefly Aerospace Inc. Form 10-K (FY ended Dec 31, 2025)","excerpt":"Lockheed Martin: We have a multi-launch agreement with Lockheed Martin that includes up to 25 missions over the next five years. Under this agreement, we plan to routinely launch a variety of future Lockheed Martin spacecraft, including new payload technologies, into LEO from our launch facilities on the west and east coasts of the United States.","excerpt_en":"Lockheed Martin: We have a multi-launch agreement with Lockheed Martin that includes up to 25 missions over the next five years. Under this agreement, we plan to routinely launch a variety of future Lockheed Martin spacecraft, including new payload technologies, into LEO from our launch facilities on the west and east coasts of the United States."},{"stance":"confirms","publisher":"Lockheed Martin","publisher_en":"Lockheed Martin","kind":"news","lang":"en","published_at":"2024-06-05","url":"https://news.lockheedmartin.com/2024-06-05-Lockheed-Martin-Purchases-Up-to-25-Rocket-Launches-from-Firefly-Aerospace","title":"Lockheed Martin, 파이어플라이로부터 최대 25회 로켓 발사 구매","title_en":"Lockheed Martin Purchases Up to 25 Rocket Launches from Firefly Aerospace","excerpt":"Lockheed Martin has signed a multi-launch agreement with Firefly Aerospace for 25 launches on Firefly's Alpha rocket through 2029, including 15 launch reservations and 10 optional launches.","excerpt_en":"Lockheed Martin has signed a multi-launch agreement with Firefly Aerospace for 25 launches on Firefly's Alpha rocket through 2029, including 15 launch reservations and 10 optional launches."}]},{"direction":"revenue","counterparty":"우주·미사일방어 (정부)","counterparty_slug":null,"confidence":"mid","metric":null,"note":"우주·미사일방어 시스템.","note_en":"Space and missile-defense systems.","sources":[{"stance":"confirms","publisher":"Lockheed Martin","publisher_en":"Lockheed Martin","kind":"filing","lang":"en","published_at":"2026-01-27","url":"https://investors.lockheedmartin.com/news-releases/news-release-details/lockheed-martin-reports-fourth-quarter-and-full-year-2025/","title":"Lockheed Martin FY2025 실적","title_en":"Lockheed Martin FY2025 results","excerpt":"우주·미사일방어 시스템.","excerpt_en":"Space and missile-defense systems."}]},{"direction":"cost","counterparty":"Kratos","counterparty_slug":"kratos","confidence":"mid","metric":null,"note":"하이퍼소닉 테스트·표적드론을 크라토스에 하청.","note_en":"Subcontracts hypersonic testing and target drones to Kratos.","sources":[{"stance":"confirms","publisher":"Globe and Mail","publisher_en":"Globe and Mail","kind":"research","lang":"en","published_at":"2026-01-01","url":"https://www.theglobeandmail.com/investing/markets/stocks/LMT/pressreleases/34667156/hypersonics-to-drones-kratos-growing-ground-in-missile-defense/","title":"하이퍼소닉·드론: Kratos의 미사일방어 확장","title_en":"Hypersonics to drones: Kratos in missile defense","excerpt":"하이퍼소닉 테스트·표적드론을 크라토스에 하청.","excerpt_en":"Subcontracts hypersonic testing and target drones to Kratos."},{"stance":"confirms","publisher":"Nasdaq","publisher_en":"Nasdaq","kind":"news","lang":"en","published_at":"2026-01-01","url":"https://www.nasdaq.com/articles/lmt-vs-ktos-which-defense-stock-better-positioned-2026","title":"LMT vs KTOS 방산 비교(하청·하이퍼소닉)","title_en":"LMT vs KTOS defense comparison","excerpt":"하이퍼소닉 테스트·표적드론을 크라토스에 하청.","excerpt_en":"Subcontracts hypersonic testing and target drones to Kratos."}]},{"direction":"cost","counterparty":"Mercury Systems","counterparty_slug":"mercury-systems","confidence":"mid","metric":null,"note":"미션컴퓨팅·RF 서브시스템을 머큐리에서 조달.","note_en":"Sources mission computing and RF subsystems from Mercury.","sources":[{"stance":"confirms","publisher":"StockTitan","publisher_en":"StockTitan","kind":"news","lang":"en","published_at":"2025-08-05","url":"https://www.stocktitan.net/sec-filings/MRCY/10-k-mercury-systems-inc-files-annual-report-15b1f5a2f73a.html","title":"Mercury FY2025 매출 $912M, 프라임 80%+","title_en":"Mercury FY2025 revenue $912M, 80%+ from primes","excerpt":"미션컴퓨팅·RF 서브시스템을 머큐리에서 조달.","excerpt_en":"Sources mission computing and RF subsystems from Mercury."}]},{"direction":"cost","counterparty":"Teledyne","counterparty_slug":"teledyne","confidence":"mid","metric":null,"note":"EO/IR·우주 적외선 센서를 테레다인에서 조달.","note_en":"Sources EO/IR and space IR sensors from Teledyne.","sources":[{"stance":"confirms","publisher":"Business Wire","publisher_en":"Business Wire","kind":"news","lang":"en","published_at":"2025-12-05","url":"https://www.businesswire.com/news/home/20251205322469/en/Teledyne-FLIR-Defense-Awarded-$42.5-Million-Drone-Contract-for-U.S.-Marine-Corps-Organic-Precision-Fires-Light-Program","title":"Teledyne FLIR, 해병 OPF-L Rogue 1 $42.5M","title_en":"Teledyne FLIR USMC OPF-L Rogue 1 $42.5M","excerpt":"EO/IR·우주 적외선 센서를 테레다인에서 조달.","excerpt_en":"Sources EO/IR and space IR sensors from Teledyne."}]},{"direction":"cost","counterparty":"Karman","counterparty_slug":"karman","confidence":"mid","metric":null,"note":"미사일·하이퍼소닉 추진·페이로드를 카르만에서 조달.","note_en":"Sources missile/hypersonic propulsion and payload from Karman.","sources":[{"stance":"confirms","publisher":"Renaissance Capital","publisher_en":"Renaissance Capital","kind":"news","lang":"en","published_at":"2025-02-01","url":"https://www.renaissancecapital.com/IPO-Center/News/109161/Space-and-defense-contractor-Karman-sets-terms-for-$400-million-IPO","title":"Karman $400M IPO(우주·방산 추진)","title_en":"Karman $400M IPO (space/defense propulsion)","excerpt":"미사일·하이퍼소닉 추진·페이로드를 카르만에서 조달.","excerpt_en":"Sources missile/hypersonic propulsion and payload from Karman."}]},{"direction":"cost","counterparty":"L3Harris","counterparty_slug":"l3harris","confidence":"mid","metric":{"type":"relationship","as_of":"2026-01-02","basis":"AR이 방산 프라임에 추진시스템 공급(10-K); PAC-3 MSE 추진 1,000대 이상 인도","period":"FY2025","basis_en":"AR supplies propulsion to defense primes (10-K); 1,000+ PAC-3 MSE propulsion systems delivered","qualifier":"confirmed_no_disclosed_value"},"note":"L3해리스 에어로젯 로켓다인 부문이 록히드마틴이 프라임인 PAC-3 MSE·THAAD·GMLRS 등 미사일 프로그램에 고체로켓모터·추진시스템을 공급한다. 수요 급증에 맞춰 L3해리스가 헌츠빌 등 SRM 생산능력을 확장 중이며, 개별 계약 금액은 비공개다.","note_en":"L3Harris's Aerojet Rocketdyne segment supplies solid rocket motors and propulsion systems to missile programs where Lockheed Martin is prime, including PAC-3 MSE, THAAD and GMLRS. L3Harris is expanding SRM capacity in Huntsville and elsewhere to meet surging demand; individual contract values are not disclosed.","sources":[{"stance":"mentions","publisher":"L3Harris","publisher_en":"L3Harris","kind":"ir","lang":"en","published_at":"2025-08-01","url":"https://www.l3harris.com/newsroom/press-release/2025/08/l3harris-expanding-huntsville-solid-rocket-motor-facility","title":"L3Harris Expanding Huntsville Solid Rocket Motor Facility","title_en":"L3Harris Expanding Huntsville Solid Rocket Motor Facility","excerpt":"L3Harris is expanding its Huntsville solid rocket motor facility, poised for further growth to meet increased missile program demand.","excerpt_en":"L3Harris is expanding its Huntsville solid rocket motor facility, poised for further growth to meet increased missile program demand."},{"stance":"confirms","publisher":"브레이킹디펜스","publisher_en":"Breaking Defense","kind":"news","lang":"en","published_at":"2025-04-07","url":"https://breakingdefense.com/2025/04/raytheon-awards-northrop-nammo-solid-rocket-motor-development-contracts/","title":"Raytheon awards Northrop, Nammo solid rocket motor development contracts","title_en":"Raytheon awards Northrop, Nammo solid rocket motor development contracts","excerpt":"미국 고체로켓모터 공급이 L3Harris(에어로젯)와 노스럽 단 두 곳으로 제약돼, 레이시온뿐 아니라 록히드마틴 같은 무기 제조사도 L3Harris에 의존하며 추가 공급원을 찾고 있다.","excerpt_en":"With US solid rocket motor supply constrained to just L3Harris (Aerojet) and Northrop, weapons makers such as Lockheed Martin, not only Raytheon, rely on L3Harris and are seeking additional sources."},{"stance":"mentions","publisher":"아미테크놀로지","publisher_en":"Army Technology","kind":"news","lang":"en","published_at":"2024-05-20","url":"https://www.army-technology.com/news/aerojet-rocketdyne-accelerate-solid-rocket-motors-in-missiles/","title":"Aerojet Rocketdyne, 미사일용 고체로켓모터 생산 가속","title_en":"Aerojet Rocketdyne to accelerate solid rocket motors in missiles","excerpt":"Aerojet Rocketdyne produces solid rocket motors for programs including PAC-3 MSE, GMLRS and Standard Missile; weapons makers like Lockheed and RTX are in need of solid rocket motors.","excerpt_en":"Aerojet Rocketdyne produces solid rocket motors for programs including PAC-3 MSE, GMLRS and Standard Missile; weapons makers like Lockheed and RTX are in need of solid rocket motors."}]},{"direction":"revenue","counterparty":"한국항공우주산업 (KAI)","counterparty_slug":"kai","confidence":"mid","metric":null,"note":"T-50/FA-50 계열의 공동개발 파트너. 록히드마틴이 항전·플라이바이와이어 등 기술을 제공하고 해외 마케팅을 함께 한다(2022년 팀협약).","note_en":"Co-development partner on the T-50/FA-50 family. Lockheed Martin provided avionics and fly-by-wire technology and jointly markets the aircraft abroad (2022 teaming agreement).","sources":[{"stance":"confirms","publisher":"록히드마틴(보도자료)","publisher_en":"Lockheed Martin","kind":"ir","lang":"en","published_at":"2022-06-13","url":"https://news.lockheedmartin.com/06-13-22-Lockheed-Martin-KAI-Sign-New-Teaming-Agreement-for-T-50-Opportunities","title":"Lockheed Martin, KAI Sign New Teaming Agreement for T-50 Opportunities","title_en":"Lockheed Martin, KAI Sign New Teaming Agreement for T-50 Opportunities","excerpt":"록히드마틴과 KAI는 T-50 사업을 위한 팀협약을 맺었고, KAI가 생산을 맡고 록히드마틴이 항공전력 솔루션 파트너로 해외 마케팅을 지원한다.","excerpt_en":"Lockheed Martin and KAI signed a teaming agreement on the T-50, with KAI handling production and Lockheed Martin acting as air power solutions partner supporting international marketing."}]},{"direction":"cost","counterparty":"반도체·소재 (비공개)","counterparty_slug":null,"confidence":"low","metric":null,"note":"방산 전자·반도체·소재.","note_en":"Defense electronics, semiconductors and materials.","sources":[{"stance":"confirms","publisher":"Lockheed Martin","publisher_en":"Lockheed Martin","kind":"filing","lang":"en","published_at":"2026-01-27","url":"https://investors.lockheedmartin.com/news-releases/news-release-details/lockheed-martin-reports-fourth-quarter-and-full-year-2025/","title":"Lockheed Martin FY2025 실적","title_en":"Lockheed Martin FY2025 results","excerpt":"방산 전자·반도체·소재.","excerpt_en":"Defense electronics, semiconductors and materials."}]}]}