Raytheon Technologies Corporation is an American multinational conglomerate that provides intelligent space technologies and smarter defense systems.
On April 3, 2020, Raytheon Company and United Technologies Corporation merged to form the present entity. As a result, the ticker symbol was changed to ‘RTX’ from earlier ‘UTX’. In addition, United Technologies also separated its two businesses, Otis and Carrier, into two publicly traded entities.
Raytheon Technologies operates as an aerospace and defense company.
United Technologies was founded in 1975 as United Aircraft Corporation, with headquarters in Hartford, Connecticut.
The company focuses on providing engineering and technology systems and solutions for avionics, aerostructure, interiors, mission systems, mechanical systems, power control systems, aircraft engines, software, radars, etc.
Other leading companies operating in the aerospace and defense industry are Boeing, General Dynamics, Leidos, BAE Systems, Collins Aerospace, Parsons, Northrop Grumman, etc.
The combined entity aims to focus on providing breakthrough technologies for different areas such as cybersecurity, hypersonic, avionics and directed energy.
Raytheon Technologies operates through four market-leading segments:
• Collins Aerospace System
• Pratt & Whitey
• Raytheon Missiles & Defense
• Raytheon Intelligence & Space
The company claims that its technology solutions are used in missile defense, air dominance, surveillance, networked communications, military jet platforms, etc.
Pratt & Whitey is engaged in the designing, manufacturing and servicing of advanced aircraft engines, auxiliary power system for business, military and commercial aircraft.
The US-based firm also focuses on providing systems and satellites for real-time space imaging to detect, track and engage threats, monitor climate, and predict the weather.
Through its aerospace division, Raytheon also provides information management services through an extensive network of data and voice communication networks and solutions.
The company claims to be supporting the United States space program for over 50 years.
In 2020, the tech firm introduced Kiosk Connect to provide contactless airport check-in services amid the global COVID-19 pandemic.