Raytheon Technologies Corporation is an American
multinational aerospace
Aerospace is a term used to collectively refer to the atmosphere and outer space. Aerospace activity is very diverse, with a multitude of commercial, industrial and military applications. Aerospace engineering consists of aeronautics and astrona ...
and
defense
Defense or defence may refer to:
Tactical, martial, and political acts or groups
* Defense (military), forces primarily intended for warfare
* Civil defense, the organizing of civilians to deal with emergencies or enemy attacks
* Defense industr ...
conglomerate
Conglomerate or conglomeration may refer to:
* Conglomerate (company)
* Conglomerate (geology)
* Conglomerate (mathematics)
In popular culture:
* The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes
** Co ...
headquartered in
Arlington, Virginia
Arlington County is a county in the Commonwealth of Virginia. The county is situated in Northern Virginia on the southwestern bank of the Potomac River directly across from the District of Columbia, of which it was once a part. The county is ...
. It is one of the largest aerospace and defense manufacturers in the world by revenue and market capitalization. In addition, it is one of the largest providers of intelligence services. Raytheon Technologies manufactures
aircraft engine
An aircraft engine, often referred to as an aero engine, is the power component of an aircraft propulsion system. Most aircraft engines are either piston engines or gas turbines, although a few have been rocket powered and in recent years many ...
s,
avionics
Avionics (a blend word, blend of ''aviation'' and ''electronics'') are the Electronics, electronic systems used on aircraft. Avionic systems include communications, Air navigation, navigation, the display and management of multiple systems, ...
,
aerostructure
An aerostructure is a component of an aircraft's airframe. This may include all or part of the fuselage, wings, or flight control surfaces. Companies that specialize in constructing these components are referred to as "aerostructures manufacturer ...
s,
cybersecurity
Computer security, cybersecurity (cyber security), or information technology security (IT security) is the protection of computer systems and networks from attack by malicious actors that may result in unauthorized information disclosure, the ...
,
guided missile
In military terminology, a missile is a guided airborne ranged weapon capable of self-propelled flight usually by a jet engine or rocket motor. Missiles are thus also called guided missiles or guided rockets (when a previously unguided rocket ...
s,
air defense systems
Anti-aircraft warfare, counter-air or air defence forces is the battlespace response to aerial warfare, defined by NATO as "all measures designed to nullify or reduce the effectiveness of hostile air action".AAP-6 It includes surface based, ...
,
satellite
A satellite or artificial satellite is an object intentionally placed into orbit in outer space. Except for passive satellites, most satellites have an electricity generation system for equipment on board, such as solar panels or radioisotope ...
s, and
drone
Drone most commonly refers to:
* Drone (bee), a male bee, from an unfertilized egg
* Unmanned aerial vehicle
* Unmanned surface vehicle, watercraft
* Unmanned underwater vehicle or underwater drone
Drone, drones or The Drones may also refer to:
...
s. The company is also a large military contractor, getting a significant portion of its revenue from the U.S. government.
The company is the result of the merger of equals between the aerospace subsidiaries of
United Technologies Corporation
United Technologies Corporation (UTC) was an American multinational conglomerate headquartered in Farmington, Connecticut. It researched, developed, and manufactured products in numerous areas, including aircraft engines, aerospace systems ...
(UTC) and the
Raytheon Company
The Raytheon Company was a major U.S. defense contractor and industrial corporation with manufacturing concentrations in weapons and military and commercial electronics. It was previously involved in corporate and special-mission aircraft unti ...
, which was completed on April 3, 2020. Before the merger, UTC
spun off its non-aerospace subsidiaries
Otis Elevator Company
Otis Worldwide Corporation (trade name, branded as the Otis Elevator Company, its former legal name) is an American company that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment.
Based in Farming ...
and
Carrier Corporation
Carrier Global Corporation is an American multinational heating, ventilation, and air conditioning (HVAC), refrigeration, and fire and security equipment corporation based in Palm Beach Gardens, Florida. Carrier was founded in 1915 as an independ ...
. UTC is the nominal survivor of the merger but it changed its name to Raytheon Technologies and relocated its headquarters to Waltham, Massachusetts.
Former UTC CEO and chairman
Gregory J. Hayes
Gregory J. Hayes (born 1960/61) is an American businessman. He was the chairman and CEO of United Technologies from September 2016 to April 2020, and is now the CEO of Raytheon Technologies.
Early life and education
Hayes grew up in Williamsvill ...
is Chairman and CEO of the combined company.
The company has four subsidiaries:
Collins Aerospace
Collins Aerospace is an American technology corporation that is one of the world's largest suppliers of aerospace and defense products. Headquartered in Charlotte, North Carolina, it is a subsidiary of Raytheon Technologies.
History
On No ...
,
Pratt & Whitney
Pratt & Whitney is an American aerospace manufacturer with global service operations. It is a subsidiary of Raytheon Technologies. Pratt & Whitney's aircraft engines are widely used in both civil aviation (especially airlines) and military aviat ...
,
Raytheon Intelligence & Space
Raytheon Intelligence & Space (RIS) is one of the four business segments of U.S. defense and aerospace conglomerate Raytheon Technologies. Headquartered in Arlington, Virginia, RIS has a total employment of 39,000 and 2019 sales of US$15 billion ...
and
Raytheon Missiles & Defense
Raytheon Missiles & Defense (RMD) is one of four business segments of Raytheon Technologies. Headquartered in Tucson, Arizona, its president is Wes Kremer. The business produces a broad portfolio of advanced technologies, including air and missil ...
.
On June 7, 2022, the company announced plans to move its global headquarters to
Arlington, Virginia
Arlington County is a county in the Commonwealth of Virginia. The county is situated in Northern Virginia on the southwestern bank of the Potomac River directly across from the District of Columbia, of which it was once a part. The county is ...
. The move was completed in July.
History
Raytheon Company
The Raytheon Company was founded in 1922 in
Cambridge, Massachusetts
Cambridge ( ) is a city in Middlesex County, Massachusetts, United States. As part of the Boston metropolitan area, the cities population of the 2020 U.S. census was 118,403, making it the fourth most populous city in the state, behind Boston, ...
, by Laurence K. Marshall,
Vannevar Bush
Vannevar Bush ( ; March 11, 1890 – June 28, 1974) was an American engineer, inventor and science administrator, who during World War II headed the U.S. Office of Scientific Research and Development (OSRD), through which almost all wartime ...
, and Charles G. Smith as the
American Appliance Company. Its focus, which was originally on new
refrigeration
The term refrigeration refers to the process of removing heat from an enclosed space or substance for the purpose of lowering the temperature.International Dictionary of Refrigeration, http://dictionary.iifiir.org/search.phpASHRAE Terminology, ht ...
technology, soon shifted to
electronics
The field of electronics is a branch of physics and electrical engineering that deals with the emission, behaviour and effects of electrons using electronic devices. Electronics uses active devices to control electron flow by amplification ...
. The company's first product was a gaseous (
helium
Helium (from el, ἥλιος, helios, lit=sun) is a chemical element with the symbol He and atomic number 2. It is a colorless, odorless, tasteless, non-toxic, inert, monatomic gas and the first in the noble gas group in the periodic table. ...
)
rectifier
A rectifier is an electrical device that converts alternating current (AC), which periodically reverses direction, to direct current (DC), which flows in only one direction. The reverse operation (converting DC to AC) is performed by an Power ...
that was based on Charles Smith's earlier
astronomical
Astronomy () is a natural science that studies celestial objects and phenomena. It uses mathematics, physics, and chemistry in order to explain their origin and evolution. Objects of interest include planets, moons, stars, nebulae, galaxies ...
research of the star
Zeta Puppis
Zeta Puppis (ζ Puppis, abbreviated Zeta Pup, ζ Pup), formally named Naos , is a star in the constellation of Puppis.
The spectral class of O4 means this is one of the hottest, and most luminous, stars visible to th ...
.
[Otto J. Scott, The Creative Ordeal, (New York, Atheneum, 1974),16–32] The electron tube was christened with the name ''Raytheon'' ("light of/from the gods") and was used in a
battery eliminator
A battery eliminator is a device powered by an electrical source other than a battery, which then converts the source to a suitable DC voltage that may be used by a second device designed to be powered by batteries. A battery eliminator does awa ...
, a type of
radio-receiver power supply
A power supply is an electrical device that supplies electric power to an electrical load. The main purpose of a power supply is to convert electric current from a source to the correct voltage, current, and frequency to power the load. As a r ...
that plugged into the
power grid
An electrical grid is an interconnected network for electricity delivery from producers to consumers. Electrical grids vary in size and can cover whole countries or continents. It consists of:Kaplan, S. M. (2009). Smart Grid. Electrical Power ...
in place of large
batteries
Battery most often refers to:
* Electric battery, a device that provides electrical power
* Battery (crime), a crime involving unlawful physical contact
Battery may also refer to:
Energy source
*Automotive battery, a device to provide power t ...
. This made it possible to convert household
alternating current
Alternating current (AC) is an electric current which periodically reverses direction and changes its magnitude continuously with time in contrast to direct current (DC) which flows only in one direction. Alternating current is the form in whic ...
to
direct current
Direct current (DC) is one-directional flow of electric charge. An electrochemical cell is a prime example of DC power. Direct current may flow through a conductor such as a wire, but can also flow through semiconductors, insulators, or even ...
for radios and thus eliminate the need for expensive, short-lived batteries.
In 1925, the company changed its name to Raytheon Manufacturing Company and began marketing its rectifier, under the Raytheon brand name, with commercial success. In 1928, Raytheon merged with Q.R.S. Company, an American manufacturer of electron tubes and switches, to form the successor of the same name, Raytheon Manufacturing Company. By the 1930s, it had already grown to become one of the world's largest vacuum tube manufacturing companies. In 1933 it diversified by acquiring Acme-Delta Company, a producer of
transformer
A transformer is a passive component that transfers electrical energy from one electrical circuit to another circuit, or multiple circuits. A varying current in any coil of the transformer produces a varying magnetic flux in the transformer' ...
s, power equipment, and electronic
auto parts
This is a list of auto parts, mostly for vehicles using internal combustion engines which are manufactured components of automobiles:
Car body and main parts Body components, including trim
Doors
Windows
Low voltage/auxiliary ele ...
.
During World War II, Raytheon mass manufactured
magnetron
The cavity magnetron is a high-power vacuum tube used in early radar systems and currently in microwave ovens and linear particle accelerators. It generates microwaves using the interaction of a stream of electrons with a magnetic field while ...
tubes for use in
microwave radar
Radar is a detection system that uses radio waves to determine the distance (''ranging''), angle, and radial velocity of objects relative to the site. It can be used to detect aircraft, ships, spacecraft, guided missiles, motor vehicles, ...
sets and then complete
radar system
Radar is a detection system that uses radio waves to determine the distance (''ranging''), angle, and radial velocity of objects relative to the site. It can be used to detect aircraft, ships, spacecraft, guided missiles, motor vehicles, weat ...
s. At war's end in 1945, the company was responsible for about 80 percent of all magnetrons manufactured. During the war, Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection. Raytheon ranked 71st among United States corporations in the value of World War II military production contracts.
[ Peck, Merton J. & Scherer, Frederic M. ''The Weapons Acquisition Process: An Economic Analysis'' (1962) ]Harvard Business School
Harvard Business School (HBS) is the graduate business school of Harvard University, a private research university in Boston, Massachusetts. It is consistently ranked among the top business schools in the world and offers a large full-time MBA p ...
p.619 In 1945, Raytheon's
Percy Spencer
Percy Lebaron Spencer (July 19, 1894 – September 8, 1970) was an American physicist and inventor. He became known as the inventor of the microwave oven.
Early life
Spencer was born in Howland, Maine. Eighteen months later, Spencer's father d ...
invented the
microwave oven
A microwave oven (commonly referred to as a microwave) is an electric oven that heats and cooks food by exposing it to electromagnetic radiation in the microwave frequency range. This induces polar molecules in the food to rotate and produce t ...
by discovering that the magnetron could rapidly heat food. In 1947, the company demonstrated the Radarange microwave oven for commercial use.
After the war, Raytheon developed the first
guidance system
A guidance system is a virtual or physical device, or a group of devices implementing a controlling the movement of a ship, aircraft, missile, rocket, satellite, or any other moving object. Guidance is the process of calculating the changes in po ...
for a missile that could intercept a flying target. In 1948, Raytheon began to manufacture
guided missile
In military terminology, a missile is a guided airborne ranged weapon capable of self-propelled flight usually by a jet engine or rocket motor. Missiles are thus also called guided missiles or guided rockets (when a previously unguided rocket ...
s, including the
SAM-N-2 Lark
The Lark project was a solid-fuel boosted, liquid-fueled surface-to-air missile developed by the United States Navy to meet the kamikaze threat. It was developed as a crash program to introduce a medium-range defensive layer that would attack tar ...
, the air-to-air
AIM-7 Sparrow
The AIM-7 Sparrow (Air Intercept Missile) is an American, medium-range semi-active radar homing air-to-air missile operated by the United States Air Force, United States Navy, and United States Marine Corps, as well as other various air forces ...
, and the ground-to-air
MIM-23 Hawk
The Raytheon MIM-23 HAWK ("Homing all the way killer") is an American medium-range surface-to-air missile. It was designed to be a much more mobile counterpart to the MIM-14 Nike Hercules, trading off range and altitude capability for a much sm ...
missiles. In 1959, Raytheon acquired the marine electronics company Apelco Applied Electronics, which significantly increased its strength in commercial marine navigation and radio gear, and changed its name to Raytheon Company.
During the post-war years, Raytheon also made generally low- to medium-powered radio and television
transmitter
In electronics and telecommunications, a radio transmitter or just transmitter is an electronic device which produces radio waves with an antenna (radio), antenna. The transmitter itself generates a radio frequency alternating current, which i ...
s and related equipment for the commercial market. In the 1950s, Raytheon began manufacturing
transistor
upright=1.4, gate (G), body (B), source (S) and drain (D) terminals. The gate is separated from the body by an insulating layer (pink).
A transistor is a semiconductor device used to Electronic amplifier, amplify or electronic switch, switch e ...
s, including the
CK722
The CK722 was the first low-cost junction transistor available to the general public. It was a Bipolar junction transistor#PNP, PNP germanium small-signal unit. Developed by Norman Krim, it was introduced by Raytheon in early 1953 for $7.60 each; ...
, priced for and marketed to hobbyists. Under the direction of
Thomas L. Phillips
Thomas L. Phillips (1924-2019) was a chairman and chief executive officer at Raytheon.
He was born in Istanbul in 1924 and graduated from the Boston Latin School. Mr. Phillips was hired by Raytheon in 1948. He started as an engineer, working hi ...
in 1965, it acquired
Amana Refrigeration
The Amana Corporation is an American brand of household appliances. It was founded in 1934 by George Foerstner as The Electrical Equipment Co. in Middle Amana, Iowa, to manufacture commercial walk-in coolers. The business was later owned by the A ...
, Inc., a manufacturer of
refrigerators
A refrigerator, colloquially fridge, is a commercial and home appliance consisting of a thermally insulated compartment and a heat pump (mechanical, electronic or chemical) that transfers heat from its inside to its external environment so th ...
and
air conditioners
Air conditioning, often abbreviated as A/C or AC, is the process of removing heat from an enclosed space to achieve a more comfortable interior environment (sometimes referred to as 'comfort cooling') and in some cases also strictly controlling ...
. Using the Amana brand name and its distribution channels, Raytheon began selling the first countertop household
microwave oven
A microwave oven (commonly referred to as a microwave) is an electric oven that heats and cooks food by exposing it to electromagnetic radiation in the microwave frequency range. This induces polar molecules in the food to rotate and produce t ...
in 1967 and became a dominant manufacturer in the microwave oven business.
In 1991, during the
Persian Gulf War
The Gulf War was a 1990–1991 armed campaign waged by a 35-country military coalition in response to the Iraqi invasion of Kuwait. Spearheaded by the United States, the coalition's efforts against Iraq were carried out in two key phases: ...
, Raytheon's
Patriot missile
The MIM-104 Patriot is a surface-to-air missile (SAM) system, the primary of its kind used by the United States Army and several allied states. It is manufactured by the U.S. defense contractor Raytheon and derives its name from the radar compon ...
received great international exposure, resulting in a substantial increase in sales for the company outside the United States. In an effort to establish leadership in the defense electronics business, Raytheon purchased in quick succession Dallas-based
E-Systems
Raytheon Intelligence, Information, and Services (RIIS or IIS) is a business unit of Raytheon Company headquartered in Dulles, Virginia. IIS specializes in intelligence, surveillance, and reconnaissance, advanced cybersecurity solutions; weather ...
(1995);
Chrysler Corporation
Stellantis North America (officially FCA US and formerly Chrysler ()) is one of the " Big Three" automobile manufacturers in the United States, headquartered in Auburn Hills, Michigan. It is the American subsidiary of the multinational automoti ...
's defense electronics and aircraft-modification businesses, and the defense unit of
Texas Instruments
Texas Instruments Incorporated (TI) is an American technology company headquartered in Dallas, Texas, that designs and manufactures semiconductors and various integrated circuits, which it sells to electronics designers and manufacturers globall ...
,
Defense Systems & Electronics Group (1997). Also in 1997, Raytheon acquired the aerospace and defense business of
Hughes Aircraft Company
The Hughes Aircraft Company was a major American aerospace and defense contractor founded on February 14, 1934 by Howard Hughes in Glendale, California, as a division of Hughes Tool Company. The company was known for producing, among other produ ...
from
Hughes Electronics Corporation
Hughes may refer to:
People
* Hughes (surname)
* Hughes (given name)
Places Antarctica
* Hughes Range (Antarctica), Ross Dependency
* Mount Hughes, Oates Land
* Hughes Basin, Oates Land
* Hughes Bay, Graham Land
* Hughes Bluff, Victoria Lan ...
, a subsidiary of
General Motors
The General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. It is the largest automaker in the United States and ...
, which included a number of product lines previously purchased by Hughes Electronics, including the former
General Dynamics
General Dynamics Corporation (GD) is an American publicly traded, aerospace and defense corporation headquartered in Reston, Virginia. As of 2020, it was the fifth-largest defense contractor in the world by arms sales, and 5th largest in the Uni ...
missile
In military terminology, a missile is a guided airborne ranged weapon capable of self-propelled flight usually by a jet engine or rocket motor. Missiles are thus also called guided missiles or guided rockets (when a previously unguided rocket i ...
business (Pomona facility), the defense portion of
Delco Electronics
Delco Electronics Corporation was the automotive electronics design and manufacturing subsidiary of General Motors based in Kokomo, Indiana, that manufactured ''Delco'' Automobile radios and other electric products found in GM cars. In 1972, Gene ...
(Delco Systems Operations), and
Magnavox Electronic Systems
Magnavox (Latin for "great voice", stylized as MAGNAVOX) is an American electronics company that since 1974 has been a subsidiary of the Dutch electronics corporation Philips.
The predecessor to Magnavox was founded in 1911 by Edwin Pridham and ...
. Raytheon also divested itself of several nondefense businesses in the 1990s, including
Amana Refrigeration
The Amana Corporation is an American brand of household appliances. It was founded in 1934 by George Foerstner as The Electrical Equipment Co. in Middle Amana, Iowa, to manufacture commercial walk-in coolers. The business was later owned by the A ...
and Seismograph Service Ltd (sold to
Schlumberger
Schlumberger Limited (), doing business as SLB, is an oilfield services company. Schlumberger has four principal executive offices located in Paris, Houston, London, and The Hague.
Schlumberger is the world's largest offshore drilling compa ...
-
Geco-Prakla
Geco (Geophysical Company of Norway) was a European geophysical service company specializing in seismic surveys for petroleum exploration. Starting operating in the North Sea from 1972, the company expanded to operate in most marine areas open for ...
).
In November 2007, Raytheon purchased robotics company
Sarcos
Sarcos Technology and Robotics Corporation (NASDAQ: STRC) is an American developer of robotics and microelectromechanical systems and related technologies. It was founded in the early 1980s when it was spun out from the University of Utah. The ...
, and in October 2009, Raytheon acquired
BBN Technologies
Raytheon BBN (originally Bolt Beranek and Newman Inc.) is an American research and development company, based next to Fresh Pond in Cambridge, Massachusetts, United States.
In 1966, the Franklin Institute awarded the firm the Frank P. Brown ...
. In December 2010,
Applied Signal Technology
Applied Signal Technology ({{nasdaq, APSG; also known as AST) is a provider of advanced intelligence, surveillance and reconnaissance (ISR) products, systems, and services, established in 1984 in Sunnyvale, California. Its 2009 revenue was $202.6 m ...
agreed to be acquired by Raytheon for $490 million.
In October 2014, Raytheon beat rivals
Lockheed Martin
The Lockheed Martin Corporation is an American aerospace, arms, defense, information security, and technology corporation with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It ...
and
Northrop Grumman
Northrop Grumman Corporation is an American multinational aerospace and defense technology company. With 90,000 employees and an annual revenue in excess of $30 billion, it is one of the world's largest weapons manufacturers and military techn ...
for a contract to build 3DELRR, a next-generation long-range radar system, for the
US Air Force
The United States Air Force (USAF) is the air service branch of the United States Armed Forces, and is one of the eight uniformed services of the United States. Originally created on 1 August 1907, as a part of the United States Army Signal ...
worth an estimated $1 billion. The contract award was immediately protested by Raytheon's competitors. After re-evaluating the bids following the protests, the
US Air Force
The United States Air Force (USAF) is the air service branch of the United States Armed Forces, and is one of the eight uniformed services of the United States. Originally created on 1 August 1907, as a part of the United States Army Signal ...
decided to delay awarding the 3DELRR EMD contract until 2017 and was to issue an amended solicitation at the end of July 2016. In 2017 the Air Force again awarded the contract to Raytheon.
In May 2015, Raytheon acquired cybersecurity firm Websense, Inc. from Vista Equity Partners for $1.9 billion and combined it with RCP, formerly part of its IIS segment to form Raytheon, Websense. In October 2015, Raytheon, Websense acquired Foreground Security, a provider of security operations centers, managed security service solutions and cybersecurity professional services, for $62 million. In January 2016, Raytheon, Websense acquired the firewall provider Stonesoft from
Intel
Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California. It is the world's largest semiconductor chip manufacturer by revenue, and is one of the developers of the x86 seri ...
Security for an undisclosed amount and renamed itself to Forcepoint.
In July 2016,
Poland's Defence Minister
Antoni Macierewicz
Antoni Macierewicz (; born 3 August 1948) is a Polish politician and the former Minister of National Defence. He previously served as the Minister of Internal Affairs, Head of the Military Counterintelligence Service, and Minister of State in ...
planned to sign a letter of intent with Raytheon for a $5.6 billion deal to upgrade its Patriot missile-defence shield, and in 2017,
Saudi Arabia signed business deals worth billions of dollars with multiple American companies, including Raytheon.
In February 2020, Raytheon completed the first radar antenna array for the US Army's new missile defense radar, known as the Lower Tier Air and Missile Defense Sensor (LTAMDS), to replace the service's Patriot air and missile defense system sensor.
United Technologies Corporation
In 1929,
William Boeing
William Edward Boeing (; October 1, 1881 – September 28, 1956) was an American aviation pioneer who founded the Pacific Airplane Company in 1916, which a year later was renamed to The Boeing Company, now the largest exporter in the United S ...
's
Boeing Airplane & Transport Corporation teamed up with
Frederick Rentschler
Frederick Brant Rentschler (November 8, 1887 – April 25, 1956) was an American aircraft engine designer, aviation engineer, industrialist, and the founder of Pratt & Whitney Aircraft. Rentschler created and manufactured many revolution ...
's
Pratt & Whitney
Pratt & Whitney is an American aerospace manufacturer with global service operations. It is a subsidiary of Raytheon Technologies. Pratt & Whitney's aircraft engines are widely used in both civil aviation (especially airlines) and military aviat ...
to form the
United Aircraft and Transport Corporation
The United Aircraft and Transport Corporation was formed in 1929, when William Boeing of Boeing Airplane & Transport Corporation teamed up with Frederick Rentschler of Pratt & Whitney to form a large, vertically-integrated, amalgamated firm, un ...
, a large,
vertically-integrated
In microeconomics, management and international political economy, vertical integration is a term that describes the arrangement in which the supply chain of a company is integrated and owned by that company. Usually each member of the supply c ...
,
amalgamated
Amalgamation is the process of combining or uniting multiple entities into one form.
Amalgamation, amalgam, and other derivatives may refer to:
Mathematics and science
* Amalgam (chemistry), the combination of mercury with another metal
**Pan ama ...
firm, uniting business interests in all aspects of
aviation
Aviation includes the activities surrounding mechanical flight and the aircraft industry. ''Aircraft'' includes fixed-wing and rotary-wing types, morphable wings, wing-less lifting bodies, as well as lighter-than-air craft such as hot air ...
—a combination of
aircraft engine and airframe manufacturing and
airline
An airline is a company that provides civil aviation, air transport services for traveling passengers and freight. Airlines use aircraft to supply these services and may form partnerships or Airline alliance, alliances with other airlines for ...
business, to serve all aviation markets, both
civil aviation
Civil aviation is one of two major categories of flying, representing all non-military and non-state aviation, both private and commercial. Most of the countries in the world are members of the International Civil Aviation Organization and work ...
(cargo, passenger,
private
Private or privates may refer to:
Music
* " In Private", by Dusty Springfield from the 1990 album ''Reputation''
* Private (band), a Denmark-based band
* "Private" (Ryōko Hirosue song), from the 1999 album ''Private'', written and also recorde ...
,
air mail
Airmail (or air mail) is a mail transport service branded and sold on the basis of at least one leg of its journey being by air. Airmail items typically arrive more quickly than surface mail, and usually cost more to send. Airmail may be the ...
) and
military aviation
Military aviation comprises military aircraft and other flying machines for the purposes of conducting or enabling aerial warfare, including national airlift ( air cargo) capacity to provide logistical supply to forces stationed in a war the ...
. After the
Air Mail scandal
The Air Mail scandal, also known as the Air Mail fiasco, is the name that the American press gave to the political scandal resulting from a 1934 congressional investigation of the awarding of contracts to certain airlines to carry airmail and t ...
of 1934, the U.S. government concluded that such large holding companies as United Aircraft and Transport were anti-competitive, and new
antitrust
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust l ...
laws were passed forbidding airframe or engine manufacturers from having interests in airlines.
United Aircraft Corporation
The PJSC United Aircraft Corporation (UAC) () is a Russian Aerospace manufacturer, aerospace and Arms industry, defense corporation. With a majority stake belonging to the Russian government, it consolidates Russian private and state-owned Russian ...
was formed in 1934 from the portions of United Aircraft and Transport east of the
Mississippi River
The Mississippi River is the second-longest river and chief river of the second-largest drainage system in North America, second only to the Hudson Bay drainage system. From its traditional source of Lake Itasca in northern Minnesota, it f ...
(Pratt & Whitney, Sikorsky, Vought, and
Hamilton Standard
Hamilton Standard was an American aircraft propeller parts supplier. It was formed in 1929 when United Aircraft and Transport Corporation consolidated Hamilton Aero Manufacturing and Standard Steel Propeller into the Hamilton Standard Propeller C ...
Propeller Company), headquartered in
Hartford
Hartford is the capital city of the U.S. state of Connecticut. It was the seat of Hartford County until Connecticut disbanded county government in 1960. It is the core city in the Greater Hartford metropolitan area. Census estimates since the ...
with
Frederick Rentschler
Frederick Brant Rentschler (November 8, 1887 – April 25, 1956) was an American aircraft engine designer, aviation engineer, industrialist, and the founder of Pratt & Whitney Aircraft. Rentschler created and manufactured many revolution ...
, founder of Pratt & Whitney, as president.
[Herman, Arthur. ''Freedom's Forge: How American Business Produced Victory in World War II,'' p. 6, Random House, New York, NY, 2012. .]
United Aircraft became a component of the
Dow Jones Industrial Average
The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States.
The DJIA is one of the oldest and most commonly followed equity inde ...
on March 4, 1939, when United Aircraft and
AT&T
AT&T Inc. is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the world's largest telecommunications company by revenue and the third largest provider of mobile tel ...
were added to replace
Nash Motors
Nash Motors Company was an American automobile manufacturer based in Kenosha, Wisconsin from 1916 to 1937. From 1937 to 1954, Nash Motors was the automotive division of the Nash-Kelvinator Corporation. Nash production continued from 1954 to 195 ...
and
International Business Machines. United Aircraft, subsequently known as
United Technologies
United Technologies Corporation (UTC) was an American multinational conglomerate headquartered in Farmington, Connecticut. It researched, developed, and manufactured products in numerous areas, including aircraft engines, aerospace systems ...
and Raytheon Technologies, has remained a component of the Dow Jones Industrial Average since that time through August 2020. It was announced that starting August 31, 2020, Raytheon Technologies would be substituted in the
Dow Jones Industrial Average
The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States.
The DJIA is one of the oldest and most commonly followed equity inde ...
by
Honeywell International
Honeywell International Inc. is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building technologies, performance ma ...
.
During World War II, United Aircraft ranked sixth among United States corporations in the value of wartime production contracts.
At the close of the war, United Aircraft entered the emerging markets for
jet engine
A jet engine is a type of reaction engine discharging a fast-moving jet of heated gas (usually air) that generates thrust by jet propulsion. While this broad definition can include rocket, Pump-jet, water jet, and hybrid propulsion, the term ...
s and
helicopter
A helicopter is a type of rotorcraft in which lift and thrust are supplied by horizontally spinning rotors. This allows the helicopter to take off and land vertically, to hover, and to fly forward, backward and laterally. These attributes ...
s, via Pratt & Whitney and Sikorsky, respectively.
In the 1950s, United Aircraft began developing jet engines, including the
Pratt & Whitney J57
The Pratt & Whitney J57 (company designation: JT3C) is an axial-flow turbojet engine developed by Pratt & Whitney in the early 1950s. The J57 (first run January 1950) was the first 10,000 lbf (45 kN) thrust class engine in the United States ...
, the most powerful jet engine on the market for some years.
In the 1960s, Pratt & Whitney produced the
Pratt & Whitney JT9D
The Pratt & Whitney JT9D engine was the first high bypass ratio jet engine to power a wide-body airliner. Its initial application was the Boeing 747-100, the original "Jumbo Jet". It was Pratt & Whitney's first high-bypass-ratio turbofan.
Develo ...
for the
Boeing 747
The Boeing 747 is a large, long-range wide-body airliner designed and manufactured by Boeing Commercial Airplanes in the United States between 1968 and 2022.
After introducing the 707 in October 1958, Pan Am wanted a jet times its size, t ...
.
In 1974,
Harry Gray left
Litton Industries
Litton Industries was a large defense contractor in the United States named after inventor Charles Litton Sr.
During the 1960s, the company began acquiring many unrelated firms and became one of the largest conglomerates in the United States. ...
to become the CEO of United Aircraft.
He pursued a strategy of growth and diversification, changing the parent corporation's name to United Technologies Corporation (UTC) in 1975 to reflect the intent to diversify into numerous
high tech
High technology (high tech), also known as advanced technology (advanced tech) or exotechnology, is technology that is at the cutting edge: the highest form of technology available. It can be defined as either the most complex or the newest te ...
fields beyond aerospace.
[.] (The change became official on May 1, 1975.) The diversification was partially to balance civilian business against any overreliance on military business.
UTC became a
mergers and acquisitions
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...
(M&A)–focused organization, with various forced takeovers of unwilling smaller corporations.
The next year (1976), UTC forcibly acquired
Otis Elevator
Otis Worldwide Corporation ( branded as the Otis Elevator Company, its former legal name) is an American company that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment.
Based in Farmington, Connec ...
.
[.] In 1979,
Carrier Refrigeration was acquired;
[.]
At one point the military portion of UTC's business, whose sensitivity to "excess profits" and boom/bust demand drove UTC to diversify away from it, actually carried the weight of losses incurred by the commercial M&A side of the business.
Although M&A activity was not new to United Aircraft, the M&A activity of the 1970s and 1980s was higher-stakes and arguably unfocused. Rather than aviation being the central theme of UTC businesses,
high tech
High technology (high tech), also known as advanced technology (advanced tech) or exotechnology, is technology that is at the cutting edge: the highest form of technology available. It can be defined as either the most complex or the newest te ...
(of any type) was the new theme. Some Wall Street watchers questioned the true value of M&A at almost any price, seemingly for its own sake.
In 1999, UTC acquired
Sundstrand Corporation
Sundstrand Corporation was founded in 1926 as a merger of the Rockford Tool Company and Rockford Milling Machine Company in Rockford, Illinois. It was known as Sundstrand Machine Tool Company until 1959 when shareholders voted to change the name ...
and merged it into UTC's Hamilton Standard unit to form
Hamilton Sundstrand
Hamilton Sundstrand was an American globally active corporation that manufactured and supported aerospace and industrial products for worldwide markets. A subsidiary of United Technologies Corporation, it was headquartered in Windsor Locks, Conn ...
. In 2003, UTC entered the fire and security business by purchasing
Chubb Security
Chubb Fire & Security Ltd is a British firm specialised in fire protection and security systems, and is a subsidiary of APi Group Corporation (NYSE: APG).
History
The company was founded by Charles and Jeremiah Chubb, who patented their Chub ...
. In 2004, UTC acquired the
Schweizer Aircraft Corporation
The Schweizer Aircraft Corporation was an American manufacturer of sailplanes, agricultural aircraft and helicopters located in Horseheads, New York. It was incorporated in 1939 by three Schweizer brothers (Paul, William, and Ernest), who bui ...
which planned to operate as a wholly owned subsidiary under their
Sikorsky Aircraft
Sikorsky Aircraft is an American aircraft manufacturer based in Stratford, Connecticut. It was established by aviation pioneer Igor Sikorsky in 1923 and was among the first companies to manufacture helicopters for civilian and military use.
Pre ...
division. In 2005, UTC further pursued its stake in the fire and security business by purchasing
Kidde
Kidde () is a brand and division of Carrier Global that manufactures and distributes fire detection and suppression equipment, as well as smoke and CO alarm units. Kidde is one of America's largest manufacturer of smoke alarms and fire safety pr ...
. Also in 2005, UTC acquired Boeing's
Rocketdyne
Rocketdyne was an American rocket engine design and production company headquartered in Canoga Park, California, Canoga Park, in the western San Fernando Valley of suburban Los Angeles, California, Los Angeles, in southern California.
The Rocke ...
division, which was merged into the
Pratt & Whitney
Pratt & Whitney is an American aerospace manufacturer with global service operations. It is a subsidiary of Raytheon Technologies. Pratt & Whitney's aircraft engines are widely used in both civil aviation (especially airlines) and military aviat ...
business unit and renamed
Pratt & Whitney Rocketdyne
Pratt & Whitney Rocketdyne (PWR) was an American company that designed and produced rocket engines that use liquid rocket propellants, liquid propellants. It was a division of Pratt & Whitney, a fully owned subsidiary of United Technologies Corpo ...
(later sold to
Aerojet
Aerojet was an American rocket and missile propulsion manufacturer based primarily in Rancho Cordova, California, with divisions in Redmond, Washington, Orange and Gainesville in Virginia, and Camden, Arkansas. Aerojet was owned by GenCorp. ...
and merged into
Aerojet Rocketdyne
Aerojet Rocketdyne is an American manufacturer of rocket, Hypersonic flight, hypersonic, and electric propulsive systems for space, defense, civil and commercial applications. Headquartered in Sacramento, California, the company is owned by Aeroj ...
). In November 2008, UTC's
Carrier Corporation
Carrier Global Corporation is an American multinational heating, ventilation, and air conditioning (HVAC), refrigeration, and fire and security equipment corporation based in Palm Beach Gardens, Florida. Carrier was founded in 1915 as an independ ...
acquired NORESCO, an
energy service company
An energy service company (ESCO) is a company that provides a broad range of energy solutions including designs and implementation of energy savings projects, retrofitting, energy conservation, energy infrastructure outsourcing, power generation ...
.
In 2010, UTC conducted its largest acquisition to date,
General Electric
General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. The company operated in sectors including healthcare, aviation, power, renewable energ ...
's security equipment business for US$1.8 billion, a move to support
UTC's Fire & Security unit.
[ The main citation is for Page A1; Page A8 appear]
in this clipping
In September 2011, UTC acquired a $18.4 billion deal (including $1.9 billion in net debt assumed) for aircraft components maker
Goodrich Corporation
The Goodrich Corporation, formerly the B.F. Goodrich Company, was an American manufacturing company based in Charlotte, North Carolina. Founded in Akron, Ohio in 1870 as Goodrich, Tew & Co. by Benjamin Goodrich, the company name was ch ...
. In July 2012, United Technologies acquired
Goodrich and merged it with
Hamilton Sundstrand
Hamilton Sundstrand was an American globally active corporation that manufactured and supported aerospace and industrial products for worldwide markets. A subsidiary of United Technologies Corporation, it was headquartered in Windsor Locks, Conn ...
, forming
UTC Aerospace Systems
UTC Aerospace Systems (UTAS) was one of the world’s largest suppliers of aerospace and defense products, headquartered in Charlotte, North Carolina, United States. The company was formed in August 2012 when parent United Technologies Corporation ...
.
In November 2018, UTC acquired
Rockwell Collins
Rockwell Collins was a multinational corporation headquartered in Cedar Rapids, Iowa, providing avionics and information technology systems and services to government agencies and aircraft manufacturers. It was formed when the Collins Radio Comp ...
for $23 billion ($30 billion including Rockwell Collins' net debt). As part of the deal,
Pratt and Whitney
Pratt & Whitney is an American aerospace manufacturer with global service operations. It is a subsidiary of Raytheon Technologies. Pratt & Whitney's aircraft engines are widely used in both civil aviation (especially airlines) and military aviat ...
and the newly-formed
Collins Aerospace
Collins Aerospace is an American technology corporation that is one of the world's largest suppliers of aerospace and defense products. Headquartered in Charlotte, North Carolina, it is a subsidiary of Raytheon Technologies.
History
On No ...
remained under United Technologies, while
Otis Elevator
Otis Worldwide Corporation ( branded as the Otis Elevator Company, its former legal name) is an American company that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment.
Based in Farmington, Connec ...
and
UTC Climate, Controls & Security
UTC Climate, Controls & Security was a global provider of building technologies offering fire safety, security, building automation, heating, ventilating, air-conditioning, and refrigeration systems and services. A wholly owned subsidiary of Unite ...
(doing business as
Carrier
Carrier may refer to:
Entertainment
* ''Carrier'' (album), a 2013 album by The Dodos
* ''Carrier'' (board game), a South Pacific World War II board game
* ''Carrier'' (TV series), a ten-part documentary miniseries that aired on PBS in April 20 ...
) were spun off as two independent companies. The spin off was completed in March 2020.
Raytheon Technologies
In June 2019, United Technologies announced the intention to merge with the
Raytheon Company
The Raytheon Company was a major U.S. defense contractor and industrial corporation with manufacturing concentrations in weapons and military and commercial electronics. It was previously involved in corporate and special-mission aircraft unti ...
. The combined company, valued at more than $100 billion after planned spinoffs, would be the world's second-largest aerospace-and-defense company by sales behind Boeing.
Although UTC will be the nominal survivor, the merged company took the name Raytheon Technologies and based its headquarters at Raytheon's former campus in
Waltham, Massachusetts
Waltham ( ) is a city in Middlesex County, Massachusetts, United States, and was an early center for the labor movement as well as a major contributor to the American Industrial Revolution. The original home of the Boston Manufacturing Company, th ...
, rather than UTC's former base in
Farmington, Connecticut
Farmington is a town in Hartford County in the Farmington Valley area of central Connecticut in the United States. The population was 26,712 at the 2020 census. It sits 10 miles west of Hartford at the hub of major I-84 interchanges, 20 miles s ...
.
The merger was completed in April 2020, forming Raytheon Technologies.
Raytheon Technologies began trading at $51 per share, on the New York Stock Exchange under the ticker RTX.
[Jen Judso]
(24 Nov 2021) Raytheon CTO says merged company is finding new ways to work together
synergies: Mark Russell, CTO
On July 28, 2020 the company announced cutting of over 8,000 jobs in its commercial aviation division due to travel slowdown induced by the global
COVID-19 pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identif ...
.
In December 2020, the Board of Directors authorized a $5 billion repurchase of common stock.
Business units
*
Pratt & Whitney
Pratt & Whitney is an American aerospace manufacturer with global service operations. It is a subsidiary of Raytheon Technologies. Pratt & Whitney's aircraft engines are widely used in both civil aviation (especially airlines) and military aviat ...
: Designs and builds aircraft engines and gas turbines.
**
Pratt & Whitney Canada
Pratt & Whitney Canada (PWC or P&WC) is a Canada-based aircraft engine manufacturer. PWC's headquarters are in Longueuil, Quebec, just outside Montreal. It is a division of the larger US-based Pratt & Whitney (P&W), itself a business unit of ...
*
Collins Aerospace
Collins Aerospace is an American technology corporation that is one of the world's largest suppliers of aerospace and defense products. Headquartered in Charlotte, North Carolina, it is a subsidiary of Raytheon Technologies.
History
On No ...
: Designs and manufactures aerospace systems for commercial, regional, corporate and military aircraft; a major supplier for international space programs. Provides industrial products for the hydrocarbon, chemical, and food processing industries, construction and mining companies. Collins Aerospace was formed following UTC's acquisition of
Rockwell Collins
Rockwell Collins was a multinational corporation headquartered in Cedar Rapids, Iowa, providing avionics and information technology systems and services to government agencies and aircraft manufacturers. It was formed when the Collins Radio Comp ...
in 2018 and combining that business with UTC Aerospace Systems, which itself was the result of a 2012 merger of
Hamilton Sundstrand
Hamilton Sundstrand was an American globally active corporation that manufactured and supported aerospace and industrial products for worldwide markets. A subsidiary of United Technologies Corporation, it was headquartered in Windsor Locks, Conn ...
and
the Goodrich Corporation
The Goodrich Corporation, formerly the B.F. Goodrich Company, was an American manufacturing company based in Charlotte, North Carolina. Founded in Akron, Ohio in 1870 as Goodrich, Tew & Co. by Benjamin Goodrich, the company name was cha ...
.
*
Raytheon Intelligence & Space
Raytheon Intelligence & Space (RIS) is one of the four business segments of U.S. defense and aerospace conglomerate Raytheon Technologies. Headquartered in Arlington, Virginia, RIS has a total employment of 39,000 and 2019 sales of US$15 billion ...
: Formerly
Raytheon Intelligence, Information and Services
Raytheon Intelligence, Information, and Services (RIIS or IIS) is a business unit of Raytheon Company headquartered in Dulles, Virginia. IIS specializes in intelligence, surveillance, and reconnaissance, advanced cybersecurity solutions; weather ...
(IIS) and
Raytheon Space and Airborne Systems
Raytheon Intelligence & Space (RIS) is one of the four business segments of U.S. defense and aerospace conglomerate Raytheon Technologies. Headquartered in Arlington, Virginia, RIS has a total employment of 39,000 and 2019 sales of US$15 billion ...
(SAS)
*
Raytheon Missiles & Defense
Raytheon Missiles & Defense (RMD) is one of four business segments of Raytheon Technologies. Headquartered in Tucson, Arizona, its president is Wes Kremer. The business produces a broad portfolio of advanced technologies, including air and missil ...
: Formerly
Raytheon Integrated Defense Systems
Raytheon Missiles & Defense (RMD) is one of four business segments of Raytheon Technologies. Headquartered in Tucson, Arizona, its president is Wes Kremer. The business produces a broad portfolio of advanced technologies, including air and missil ...
(IDS) and
Raytheon Missile Systems
Raytheon Missiles & Defense (RMD) is one of four business segments of Raytheon Technologies. Headquartered in Tucson, Arizona, its president is Wes Kremer. The business produces a broad portfolio of advanced technologies, including air and missil ...
(RMS)
References
External links
*
*
{{Authority control, state=expanded
Former components of the Dow Jones Industrial Average
Companies based in Arlington County, Virginia
Companies listed on the New York Stock Exchange
Conglomerate companies of the United States
Aerospace companies of the United States
Defense companies of the United States
Electronics companies of the United States
Engineering companies of the United States
Guided missile manufacturers
Radar manufacturers
Manufacturing companies based in Virginia
Multinational companies headquartered in the United States
American companies established in 2020
Electronics companies established in 2020
Manufacturing companies established in 2020
Technology companies established in 2020
2020 establishments in Massachusetts
Conglomerate companies established in 2020
Raytheon Company
United Technologies