Raytheon Technologies
Categories
#82
Rank
$170.44B
Marketcap
United States
Country
Charles Smith (Founder)
Laurence Marshall (Founder)
Technology
Summary
Raytheon Technologies is a leading aerospace and defence technology company that specializes in providing advanced solutions to government, commercial and international customers. With over 140,000 employees, the company represents a joint venture between Raytheon Company and United Technologies Corporation (UTC).
Raytheon Technologies is comprised of four main business units: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. Collins Aerospace specializes in the design, production, and support of aircraft systems, avionics, and interior solutions for commercial, regional, and business aviation markets. Pratt & Whitney is a leading manufacturer of aircraft engines for both commercial and military aircraft. Raytheon Intelligence & Space provides advanced solutions and services in intelligence, surveillance, and reconnaissance, as well as cybersecurity and advanced defence systems. Raytheon Missiles & Defense is a leading provider of missiles, smart munitions, and missile defence systems for the United States and its allies.
The company's products and services span a range of industries, including aerospace, defence, cybersecurity, and transportation. Raytheon Technologies' innovative products, services, and capabilities enable its customers to remain competitive and achieve their strategic objectives. It is a key partner in the national defence industry, working closely with the United States government to develop and produce advanced technologies that protect the country and its allies.
Raytheon Technologies is committed to delivering superior value to its customers and partners through its innovation, technical expertise, and operational excellence. Its focus on research and development, coupled with a culture of continuous improvement, ensures that the company remains at the forefront of technological innovation in the aerospace and defence industry.
History
Raytheon Technologies is a multinational conglomerate that has played a significant role in shaping various industries, especially aerospace and defense. Its history is a tale of innovation, mergers, and strategic expansion. The roots of Raytheon Technologies can be traced back to the early 20th century.
Early Years: Founding of Raytheon
The company's origins can be found in the foundation of the American Appliance Company in 1922 by Laurence K. Marshall and Vannevar Bush. This company focused on manufacturing a wide range of products, including home appliances. In 1925, the company changed its name to Raytheon Manufacturing Company, a portmanteau of "Ray" (from radiation) and "theon" (from "Helios," the Greek sun god). The company began its journey by developing technology related to vacuum tubes and early radio technology.
World War II and Radar Innovations
During World War II, Raytheon Technologies played a pivotal role in the development of radar systems, which were crucial for military operations. The company's expertise in radar technology led to groundbreaking innovations, including the development of the first practical microwave radar system. This technology was instrumental in various applications, such as aiding Allied forces in detecting enemy aircraft and ships.
Post-War Era and Diversification
After World War II, Raytheon expanded its focus beyond defense technology. The company ventured into various industries, including semiconductors, consumer electronics, and guided missiles. Notably, Raytheon introduced the first microwave oven for commercial use, marking a significant milestone in the household appliance industry.
The Missile and Aerospace Era
In the late 20th century, Raytheon's emphasis shifted back to defense technology and aerospace. The company became a key player in the development of advanced missile systems, air defense systems, and aerospace technologies. Raytheon's contributions extended to areas such as satellite communication, weather forecasting, and space exploration.
Merger with United Technologies Corporation (UTC)
One of the most significant events in Raytheon's history occurred in 2020 when it merged with United Technologies Corporation (UTC) to form Raytheon Technologies Corporation. This merger brought together two major players in the aerospace and defense sectors, resulting in a conglomerate with a diverse portfolio of products and services. The merger aimed to enhance technological capabilities and provide integrated solutions to meet the evolving needs of customers worldwide.
Diverse Portfolio and Continued Innovation
Raytheon Technologies Corporation, as a result of the merger, encompasses a wide range of technologies and capabilities. The company operates in areas such as aerospace, defense, propulsion, avionics, cybersecurity, and more. It is a major supplier to both government and commercial customers, and its innovations continue to shape the future of aerospace and defense industries.
Mission
The mission of Raytheon Technologies is to empower its customers with innovative solutions and services that ensure mission success and make the world a safer place. The company's focus is on developing cutting-edge technology in the areas of defense, aerospace, and commercial market.
Vision
Raytheon Technologies' vision is to create a safer, more connected world grounded in the advancement of people and their potential, where inclusion and belonging are paramount. Its values span across the enterprise and drive its actions, behaviors, and performance with this vision.
Key Team
Vannevar Bush (Founder)
Paolo C. dal Cin (Senior Vice President)
Dantaya M. Williams (Executive Vice President, Chief Human Resources Officer)
George R. Oliver (Board Member)
Tracy A. Atkinson (Board Member)
Barbara Borgonovi (Senior VP-Corporate Strategy & Development)
Bernard A. Harris Jr (Board Member)
Brian Charles Rogers (Board Member)
Christopher T. Calio (Chief Operating Officer)
Recognition and Awards
Products and Services
Raytheon Technologies is a global technology company that offers a range of products and services across various industries, including aerospace, defence, cybersecurity, and advanced technologies. Here are the main business units and their products/services:
Collins Aerospace: Provides advanced aviation and high-integrity solutions for commercial and military customers around the world. Products and services include avionics systems, cabin interiors, flight controls, landing gear, lighting, and simulation and training solutions.
Pratt & Whitney: Designs, manufactures and services aircraft engines, space propulsion systems, and industrial gas turbines. The company's engines power commercial and military aircraft, helicopters, and business jets.
Raytheon Intelligence & Space: Provides advanced intelligence, surveillance and reconnaissance solutions, cybersecurity, and space systems. Its products and services include sensors and imaging systems, cybersecurity solutions, and space and airborne systems.
Raytheon Missiles & Defense: Designs, develops, and produces advanced missile systems, defence electronics, and radar systems. Its products and services include air and missile defence systems, missile components and sub-systems, and radar and sensor systems.
In addition to these main business units, Raytheon Technologies also offers a range of other products and services, including:
Cybersecurity solutions: Provides advanced cybersecurity solutions for government and commercial customers, including threat intelligence, incident response, and managed security services.
Communications systems: Develops and produces advanced communication systems for military and commercial customers, including satellite systems, secure communications systems, and advanced networking technologies.
Training and simulation solutions: Provides simulation and training solutions for military and commercial customers, including virtual reality, augmented reality, and mixed reality training programs.
Research and development: Raytheon Technologies invests heavily in research and development to develop advanced technologies and capabilities for its customers. This includes investments in areas such as artificial intelligence, machine learning, and quantum computing.
References
- Raytheon Technologies | Wikipedia
- Raytheon Technologies | Crunchbase
- Raytheon Technologies Corp. history, profile and history video | Companieshistory
- Companies ranked by revenue | Companiesmarketcap
- RTX Corporation (RTX) | Yahoo Finance
- Raytheon wins $250 million contract for missile-tracking satellites | Spacenews
- RTX Corp | CNBC
- Raytheon Technologies | Forbes
- Raytheon Technologies to host 2023 Investor Day, reaffirms 2025 financial outlook and increases targeted capital return to shareowners | Prnewswire
- Raytheon Technologies | Craft
- Exploring the technological innovations of raytheon technologies corporation common stock | Claytoncountyregister
- Raytheon Technologies gives airlines new insights into system health with connected galley inserts | Airlinergs
- Raytheon re-lists 47 acres in Canoga Park after $150M deal dies | Therealdeal
- Raytheon Technologies to host 2023 Investor Day, reaffirms 2025 financial outlook and increases targeted capital return to shareowners | RTX
- Raytheon to Combine Missiles and Defense Division with Intel and Space Business | Defenseone
- Belcan Receives Raytheon Technologies Premier Awards for Performance and Overall Excellence in Business Management and Technology & Innovation | Prnewswire
- Shareholder Alert: Robbins LLP Informs Shareholders of Class Action Filed Against RTX Corporation (RTX) f/k/a Raytheon Technologies Corporation | Businesswire
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Charles Smith (Founder)
Laurence Marshall (Founder)
Technology