ISSC's filings show repeated relationships with aerospace primes. The same names, Boeing (BA) and Textron (TXT) in particular, recur as customers, partners and suppliers.
ISSC explicitly ties its OEM work to the big airframe names.
"This order marks our latest OEM contract and builds on existing programs with Pilatus for the PC-24, Textron for the King Air 260/360 and Boeing for the KC-46A, KC-767 and the T-7A OUR BUSINESS MODEL We specialize in providing systems integrations…" (ISSC / 10-K / 2025-12-23)
ISSC lists Textron and Boeing in the same breath as OEM programs, they show up as the platforms ISSC builds into.
The revenue disclosure quantifies that customer concentration.
"tember 30, 2023, the three largest customers, Pilatus, ATSG and Textron accounted for 23%, 12% and 10% of total revenue, respectively." (ISSC / 10-K / 2025-12-23)
Pilatus, ATSG and Textron were the top three customers in the period ISSC disclosed; Textron alone was about one in ten dollars.
(relationship map)
ISSC’s customer list in the filing also reads like a roll call of airlines, integrators and government buyers.
"OUR CUSTOMERS AND PRODUCT DISTRIBUTION The Company’s customers include the U.S. federal government (including the DoD, the Department of Interior and the Department of Homeland Security), Air Transport Services Group Inc. ("ATSG"), Amazon.com, Inc., American…" (ISSC / 10-K / 2025-12-23)
ISSC explicitly names ATSG (ATSG), Amazon (AMZN), American Airlines (AAL), FedEx (FDX) and prime integrators such as L3Harris (LHX) and the U.S. government among its buyers.
ISSC also discloses vendor and carve‑out ties with Honeywell (HON) and Moog (MOG-A), reflecting asset deals and assignment language.
"Recent Acquisitions In June 2023, the Company entered into an Asset Purchase and License Agreement (the “June 2023 Honeywell Agreement”) with Honeywell International, Inc. (“Honeywell”) pursuant to which Honeywell sold, assigned or licensed certain assets…" (ISSC / 10-K / 2025-12-23)
ISSC documents an asset sale/license tied to Honeywell.
"Goodwill resulting from the Honeywell Generators Agreement has been assigned to the Company’s one reporting unit and is fully deductible for U.S. income tax purposes. Transition services agreement Concurrent with the Honeywell Generators Agreement, the…" (ISSC / 10-Q / 2026-05-15)
That Honeywell transaction shows up again in later filings with transitions and tax handling spelled out; Moog appears in the same thread.
On the partner side, ISSC flags its backlog as including committed purchases and EDC‑program work for the same OEM platforms.
"The backlog includes committed purchases and excludes potential future sole-source production orders from products developed under the Company’s engineering development contracts (“EDC”) programs, including the Pilatus PC-24, the KC-46A and the Textron King…" (ISSC / 10-Q / 2026-02-13)
Programs tied to Textron and Boeing platforms sit in ISSC’s backlog as committed or potential sole‑source work.
DoD contracting flips roles: primes are partners on subcontracts and also customers/competitors in places.
"DoD programs generally take one of two forms: a subcontract with a prime government contractor, such as Boeing, Lockheed Martin, or L3 Harris Technologies, or a direct contract with the appropriate government entity, such as the U.S." (ISSC / 10-K / 2025-12-23)
ISSC says it commonly works under big primes, Boeing (BA), Lockheed Martin (LMT) and L3Harris (LHX), as subcontractor or on direct government work.
The filings acknowledge the strategic reshuffle among primes while naming them.
"The U.S. military is actively moving away from excessive reliance on the traditional top five prime contractors (Boeing, General Dynamics, Lockheed Martin, Northrop Grumman, and RTX) through a strategic push for diversification, rapid acquisition of…" (ISSC / 10-K / 2025-12-23)
ISSC references the larger market dynamic and names General Dynamics (GD) and Northrop Grumman (NOC) among the big five.
ISSC’s lender base is straightforward and named in the filings.
"On July 18, 2025, the Company entered a new five-year , $ 100 million committed credit agreement (the \"Credit Agreement\") with a lending syndicate led and arranged by JPMorgan Chase Bank, N.A." (ISSC / 8-K / 2025-08-14)
ISSC’s revolving credit is led by JPMorgan (JPM).
Finally, ISSC lists the competitive set by name, Honeywell, Elbit and Garmin all appear.
"With respect to our products, the Company’s principal competitors include Honeywell Aerospace, Collins Aerospace, GE Aerospace, Thales Defense & Security, Inc., Elbit Systems and Garmin Ltd." (ISSC / 10-K / 2025-12-23)
The company calls out Honeywell (HONA / HON), Elbit (ESLT) and Garmin (GRMN) among its peers.
Taken together the filings map a tight web: Boeing and Textron recur as customers, partners and platform anchors; Honeywell appears as a seller of assets and as a named competitor; the usual defense primes show up as both channels and comparators. That is what ISSC discloses, in its words, in its filings.
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