Raytheon Technologies Corporation is a multinational aerospace and defense company providing advanced systems and services worldwide to commercial, military and government customers. Headquartered in Arlington, Virginia, Raytheon Technologies is one of the world's largest aerospace and defense manufacturers by revenue and market capitalization. The company is also one of the largest providers of intelligence services. Gregory J. Hayes is the chairman and CEO of the combined company.
Raytheon Company was founded in 1922. The original location for the company was Cambridge, Massachusetts. Vannevar Bush, Laurence K. Marshall and Charles G. Smith originally started Raytheon as the American Appliance Company.
Raytheon Manufacturing Company changed its name to Raytheon Manufacturing Company in 1925. After the name change, Raytheon Manufacturing Company began marketing its rectifier. During World War II, Raytheon designed and built magnetron tubes for microwave radar sets. It later went on to construct complete radar systems.
Raytheon's Percy Spencer invented the microwave oven in 1945. While eating lunch, he discovered that the magnetron could rapidly heat food. Raytheon acquired the marine electronics company Apelco Applied Electronics in 1959 and after the acquisition, the company changed its name to Raytheon Company.
In 1991, during the Persian Gulf War, Raytheon's Patriot missile received great international exposure, increasing sales for the company outside the United States. In 1995, it acquired Dallas-based E-Systems. In 1997, it acquired the defense unit of Texas Instruments, Defense Systems and Electronics Group and the defense portion of Delco Electronics (Delco Systems Operations). In 2005, it acquired Boeing's Rocketdyne division.
Raytheon Technologies formed in April 2020 due to a merger between Raytheon Company and the aerospace subsidiaries United Technologies Corporation (UTC). Before the merger, UTC spun off its non-aerospace subsidiaries, including Otis Elevator Company and Carrier Corporation and changed its name to Raytheon Technologies, relocating its headquarters to Waltham, Massachusetts. The company's operations have four main segments: Collins aerospace systems, Pratt and Whitney, Raytheon intelligence and space and Raytheon missiles and defense.
Collins Aerospace Systems is a global provider of aerospace and defense products and aftermarket services for aircraft manufacturers, airlines, general aviation and defense and commercial space operations.
The aerospace segment offers a wide range of products and services, including:
- Cabin interiors
- Food and beverage preparation
- Oxygen systems
- Storage and galley systems
- Communications and aviation systems
- Lavatory and wastewater management systems
- Airborne intelligence
- Surveillance and reconnaissance systems
- Crew escape systems
- Test and training range systems
- Simulation and training solutions
- Information management services
- Aftermarket services that include spare parts, engineering and technical support, overhaul and repair, information management services and training and fleet management solutions
The Pratt and Whitney segment supplies aircraft engines for general aviation customers, military aviation, commercial jets and business jets. It produces, sells and services military and commercial auxiliary power units.
The Raytheon intelligence and space segment develops and provides integrated space, communication and sensor systems for missions, training and cyber and software solutions to intelligence, defense, federal and commercial customers. This includes advanced sensors, training and cyber and software solutions.
The Raytheon missiles and defense segment designs, develops and produces air and missile defense systems; land-based and sea-based radars; defensive and combat solutions; command, control, intelligence and communications solutions and naval and undersea sensor solutions for the U.S. and foreign government customers.
As a large military contractor, Raytheon Technologies gets a significant portion of its revenue from the U.S. government. The company is committed to innovation and holds an impressive portfolio of over 65,000 patents and applications, making Raytheon Technologies an industry leader in developing advanced aerospace and defense solutions.
Raytheon Technologies is constantly striving to develop new, innovative products and services for its customers and has made significant investments in research and development over the years. Its dedication to research and development has enabled the company to create an extensive range of advanced products and services, including aircraft engines, avionics, aerostructures, cybersecurity, guided missiles, air defense systems, satellites and drones.
