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53-523: The company was formed in 2020 by a merger of equals between the aerospace subsidiaries of United Technologies Corporation (UTC) and the Raytheon Company . Before the merger, UTC spun off its non-aerospace subsidiaries Otis Elevator Company and Carrier Corporation . UTC is the nominal survivor of the merger but it changed its name to Raytheon Technologies and moved its headquarters to Waltham, Massachusetts. Former UTC CEO and chairman Gregory J. Hayes

106-700: 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. In 1929, William Boeing 's Boeing Airplane & Transport Corporation teamed up with Frederick Rentschler 's Pratt & Whitney to form

159-675: A component of the Dow Jones Industrial Average on March 4, 1939, when United Aircraft and AT&T were added to replace Nash Motors and International Business Machines . The company and its successors remained a component of the Dow Jones Industrial Average through August 2020. It was announced that starting August 31, 2020, Raytheon Technologies would be substituted in the Dow Jones Industrial Average by Honeywell International . During World War II, United Aircraft ranked sixth among United States corporations in

212-468: A contract to build 3DELRR, a next-generation long-range radar system, for the US Air Force worth an estimated $ 1 billion. The contract award involved the construction of next-generation radar that can track aircraft, missiles, and remotely piloted aircraft. It was immediately protested by Raytheon's competitors. After re-evaluating the bids following the protests, the US Air Force decided to delay awarding

265-466: A move to support UTC's Fire & Security unit . In September 2011, UTC acquired an $ 18.4 billion deal (including $ 1.9 billion in net debt assumed) for aircraft components maker Goodrich Corporation . In July 2012, United Technologies acquired Goodrich and merged it with Hamilton Sundstrand , forming UTC Aerospace Systems . In November 2018, UTC acquired Rockwell Collins for $ 23 billion ($ 30 billion including Rockwell Collins' net debt). As part of

318-411: 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 Security for an undisclosed amount and renamed itself to Forcepoint. In July 2016, Poland's Defence Minister Antoni Macierewicz planned to sign a letter of intent with Raytheon for

371-557: A sharp increase in interim sales and profits. On June 7, 2022, the company announced plans to move its global headquarters to Arlington, Virginia . The move was completed in July. In January 2023, Raytheon Technologies announced it would combine its missiles and defense division and intelligence and space division into a single business unit, effective July 1. The reorganization created three divisions at Raytheon Technologies: Collins Aerospace, Pratt & Whitney, and Raytheon. The reorganization

424-460: A team headed by Krim designed a set of subminiature tubes specifically for radios (2E32, 2E36, 2E42 and 2G22). Raytheon’s acquisition of Belmont Radio proved prescient, and the result was the Belmont Boulevard in 1945. The radio did not sell well, and Raytheon took a loss. Despite this setback, Krim remained at the company and shifted his attention to the newly developed transistor. Carl Todd,

477-595: A type of radio-receiver power supply that plugged into the power grid in place of large batteries . This made it possible to convert household alternating current to direct current 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

530-462: Is chairman and CEO of the combined company, which changed its name to RTX in July 2023. The company has three subsidiaries: Collins Aerospace , Pratt & Whitney , and Raytheon (formerly Raytheon Intelligence & Space and Raytheon Missiles & Defense ). The Raytheon Company was founded in 1922 in Cambridge, Massachusetts , by Laurence K. Marshall, Vannevar Bush , and Charles G. Smith as

583-539: Is moving manufacturing to Mexico: "The best way to stay competitive and protect the business for long-term is to move production from our facility in Indianapolis to Monterrey, Mexico. " In December, Carrier agreed to keep the Indianapolis plant open, keeping 700 jobs in Indianapolis. The plant in Huntington, Indiana would still close their doors, leaving 700 employees jobless. In June 2019, United Technologies announced

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636-482: The American Appliance Company . Its focus, which was originally on new refrigeration technology, soon shifted to electronics . The company's first product was a gaseous ( helium ) rectifier that was based on Charles Smith's earlier astronomical research of the star Zeta Puppis . The electron tube was christened with the name Raytheon ("light of/from the gods") and was used in a battery eliminator ,

689-519: The CK722 , priced for and marketed to hobbyists. Under the direction of Thomas L. Phillips in 1965, it acquired Amana Refrigeration , Inc., a manufacturer of refrigerators and air conditioners . Using the Amana brand name and its distribution channels, Raytheon began selling the first countertop household microwave oven in 1967 and became a dominant manufacturer in the microwave oven business. In 1991, during

742-678: The China Friendship Foundation for Peace and Development , a united front organization under the control of the Chinese People's Association for Friendship with Foreign Countries . Researchers at the University of Massachusetts Amherst have identified UTC. as the 38th-largest corporate producer of air pollution in the United States as of 2008. UTC released roughly 110,000 pounds (50,000 kg) of toxic chemicals annually into

795-735: The Elmira-Corning Regional Airport in Big Flats, New York . In March 2008, UTC made a $ 2.63 billion bid to acquire Diebold , a Canton, Ohio based manufacturer of banking and voting machines. Diebold rejected the buyout bid as inadequate. In April 2010, UTC announced that it was investing €15 million ($ 20 million) to set up the United Technologies Research Centre Ireland at University College Cork ’s Tyndall National Institute which will carry out research on energy and security systems. In June 2012, it

848-628: The Persian Gulf War , Raytheon's Patriot missile received great international exposure. It was credited for downing Iraqi Scud missiles . The exposure resulted in a substantial increase in sales for the company outside the United States. By 2006, Raytheon reported $ 283.9 million in global revenues for its Patriot missile system. In an effort to establish leadership in the defense electronics business, Raytheon purchased in quick succession Dallas-based E-Systems (1995); Chrysler Corporation 's defense electronics and aircraft-modification businesses, and

901-577: The Pratt & Whitney JT9D for the Boeing 747 . In 1974, Harry Jack Gray left Litton Industries 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 fields beyond aerospace. (The change became official on May 1, 1975.) The diversification

954-509: The United Aircraft and Transport Corporation , a large, vertically integrated , amalgamated firm, uniting business interests in all aspects of aviation —a combination of aircraft engine and airframe manufacturing and airline business, to serve all aviation markets, both civil aviation (cargo, passenger, private , air mail ) and military aviation . After the Air Mail scandal of 1934,

1007-583: The 1970s and 1980s was higher-stakes and arguably unfocused. Rather than aviation being the central theme of UTC businesses, high tech (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. Mostek was sold in 1985 to the French electronics company Thomson . In 2007, UTC opened the Hawk Works, a Rapid Prototyping and Military Derivatives Completion Center (RPMDCC) located west of

1060-476: 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,

1113-599: The New York Stock Exchange under the ticker RTX. 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 . In December 2020, the Board of Directors authorized a $ 5 billion repurchase of common stock. In 2022, during the Russian invasion of Ukraine , major arms manufacturers, including Raytheon Technologies, reported

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1166-633: The Raytheon's premium-priced CK721 (which are fallouts from CK718 hearing-aid transistors). Raytheon actively encouraged hobbyists with design contests and advertisements. In the 1950s and 1960s, hundreds of hobbyist electronics projects based around the CK722 transistor were published in popular books and magazines. Raytheon also participated in expanding the role of the CK721/CK722 as a hobbyist electronics device by publishing "Transistor Applications" and "Transistor Applications – Volume 2" during

1219-700: The U.S. government concluded that such large holding companies as United Aircraft and Transport were anti-competitive, and new antitrust laws were passed forbidding airframe or engine manufacturers from having interests in airlines. United Aircraft Corporation was formed in 1934 from United Aircraft and Transport's manufacturing interests east of the Mississippi River (Pratt & Whitney, Sikorsky, Vought, and Hamilton Standard Propeller Company), headquartered in Hartford with Frederick Rentschler , founder of Pratt & Whitney, as president. United Aircraft became

1272-527: The U.S. government. In April 2020, UTC merged with the Raytheon Company to form Raytheon Technologies, later renamed RTX Corporation . In 1974, Harry Jack Gray left Litton Industries 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 fields beyond aerospace. (The change became official on May 1, 1975.) The diversification

1325-404: The atmosphere including manganese , nickel , chromium and related compounds. In the 2016 University of Massachusetts Amherst Toxic 100 Air Polluters Index, UTC was ranked 9th by a toxicity population exposure score. It was also reported they release 60,000 pounds (27,200 kg) of toxins into the air. CK722 The CK722 was the first low-cost junction transistor available to

1378-460: The board of directors (chairperson) position went to Louis Chênevert, then the company's CEO, in January 2010, succeeding George David. For the fiscal year 2017, United Technologies reported earnings of US$ 4.552 billion, with an annual revenue of US$ 59.837 billion, an increase of 4.5% over the previous fiscal cycle. United Technologies shares traded at over $ 114 per share, and its market capitalization

1431-596: The body of the CK721/CK722s was changed to a metal case. Raytheon, however, kept the basic body size and used a unique method by taking the smaller CK78x rejects and inserting it into the larger body and sealing it. The first metal-cased CK721/CK722s were blue, and the later ones were silver. More details of this can be found in Jack Ward's website, Semiconductor Museum or the CK722 Museum, see external link reference below. In

1484-402: 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. In 1945, Raytheon's Percy Spencer invented the microwave oven by discovering that

1537-578: The deal, Pratt and Whitney and the newly-formed Collins Aerospace remained under United Technologies, while Otis Elevator and UTC Climate, Controls & Security (doing business as Carrier ) were spun off as two independent companies. The spin off was completed in March 2020. In June 2019, United Technologies announced the intention to merge with the Raytheon Company. The combined company, valued at more than $ 100 billion after planned spinoffs, would be

1590-434: The defense unit of Texas Instruments , Defense Systems & Electronics Group (1997). The businesses were purchased for $ 2.3 billion and $ 2.95 billion, respectively. Also in 1997, Raytheon acquired the aerospace and defense business of Hughes Aircraft Company from Hughes Electronics Corporation , a subsidiary of General Motors , which included a number of product lines previously purchased by Hughes Electronics, including

1643-835: The fire and security business by purchasing Chubb Security . In 2004, UTC acquired the Schweizer Aircraft Corporation which planned to operate as a wholly owned subsidiary under their Sikorsky Aircraft division. In 2005, UTC further pursued its stake in the fire and security business by purchasing Kidde . Also in 2005, UTC acquired Boeing's Rocketdyne division, which was merged into the Pratt & Whitney business unit and renamed Pratt & Whitney Rocketdyne (later sold to Aerojet and merged into Aerojet Rocketdyne ). In November 2008, UTC's Carrier Corporation acquired NORESCO, an energy service company . In 2010, UTC conducted its largest acquisition to date, General Electric 's security equipment business for US$ 1.8 billion,

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1696-604: The following May and be replaced by company president Christopher Calio. In August 2024, RTX was fined US$ 200 million for International Traffic in Arms Regulations violations, including exchanging data and products with prohibited countries such as China. After the 2020 merger, Raytheon Technologies Corporation consisted of four business units: In 2023, the company changed its name to RTX Corporation and re-organized into three business units: United Technologies Corporation United Technologies Corporation ( UTC )

1749-708: The former General Dynamics missile business (Pomona facility), the defense portion of Delco Electronics (Delco Systems Operations), and Magnavox Electronic Systems . Raytheon also divested itself of several nondefense businesses in the 1990s, including Amana Refrigeration and Seismograph Service Ltd (sold to Schlumberger - Geco-Prakla ). In November 2007, Raytheon purchased robotics company Sarcos , and in October 2009, Raytheon acquired BBN Technologies . In December 2010, Applied Signal Technology agreed to be acquired by Raytheon for $ 490 million. In October 2014, Raytheon beat rivals Lockheed Martin and Northrop Grumman for

1802-533: The funds were contributed to Republicans, 35% percent to Democrats; In 2005, the firm was among 53 entities that contributed the maximum of $ 250,000 to the second inauguration of President George W. Bush . In 1981, a contribution from UTC made possible the exhibition "Paris/Magnum: Photographs 1935–1981", featuring photographs of Paris taken by photographers of Magnum Photos , the agency founded in 1947 by Robert Capa , George Rodger , Henri Cartier-Bresson , William Vandivert , and David Seymour . A volume of

1855-473: The general public. It was a PNP germanium small-signal unit. Developed by Norman Krim , it was introduced by Raytheon in early 1953 for $ 7.60 each; the price was reduced to $ 3.50 in late 1954 and to $ 0.99 in 1956. Norm Krim selected Radio Shack to sell the CK721 and CK722 through their catalog. Krim had a long-standing personal and business relationship with Radio Shack. The CK722s were selected "fall out" from

1908-469: The intention to merge with defense contractor Raytheon to form Raytheon Technologies Corporation. 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 was the nominal survivor, the merged company was headquartered at legacy Raytheon's former base in Waltham, Massachusetts . The merger

1961-480: The late 1930s, Norm Krim , then an engineer for Raytheon, was looking into subminiature tubes for use in consumer applications such as hearing aids and pocket radios. Krim's team developed the CK501X subminiature amplifier tube that could run on penlight A type batteries or small 22.5 V B-type batteries. Following World War II, Krim was interested in developing the first pocket vacuum tube radio. Raytheon approved, and

2014-551: 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 for a missile that could intercept a flying target. In 1948, Raytheon began to manufacture guided missiles , including the SAM-N-2 Lark , and eventually the air-to-air AIM-7 Sparrow , and the ground-to-air MIM-23 Hawk missiles. In 1959, Raytheon acquired

2067-425: 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 transmitters and related equipment for the commercial market. In the 1950s, Raytheon began manufacturing transistors , including

2120-418: The mid-1950s. The original CK722 were direct fallouts from CK718 hearing-aid transistors that did not meet specifications. These fallouts were later stamped with CK721 or CK722 numbers based on gain, noise and other dynamic characteristics. Early CK722s were plastic-encapsulated and had a black body. As Raytheon improved its production of hearing-aid transistors with the introduction of the smaller CK78x series,

2173-572: The same title, with text by Irwin Shaw and an introduction by Inge Morath , was also published in 1981. UTC is the sponsor of the exhibition "Aphrodite and the Gods of Love" at Boston's Museum of Fine Arts that opened in fall 2011. The firm and its subsidiaries are major contributors to museums such as the New England Air Museum . In April 2015, UTC signed an education partnership agreement with

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2226-463: 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 transformers , power equipment, and electronic auto parts . During World War II, Raytheon mass-manufactured magnetron tubes for use in microwave radar sets and then complete radar systems . At war's end in 1945,

2279-406: The value of wartime production contracts. At the close of the war, United Aircraft entered the emerging markets for jet engines and helicopters , via Pratt & Whitney and Sikorsky, respectively. In the 1950s, United Aircraft began developing jet engines, including the Pratt & Whitney J57 , the most powerful jet engine on the market for some years. In the 1960s, Pratt & Whitney produced

2332-639: 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 (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 and merged it into UTC's Hamilton Standard unit to form Hamilton Sundstrand . In 2003, UTC entered

2385-513: The world's second-largest aerospace-and-defense company by sales behind Boeing. Although UTC was the legal survivor, the merged company took the name Raytheon Technologies and based its headquarters at Raytheon's former campus in Waltham, Massachusetts , rather than UTC's former base in Farmington, Connecticut . The merger was completed in April 2020. Raytheon Technologies began trading at $ 51 per share, on

2438-400: Was a white knight move against hostile takeover designs by Gould . 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

2491-411: Was an American multinational conglomerate headquartered in Farmington, Connecticut . It researched, developed, and manufactured products in numerous areas, including aircraft engines , aerospace systems, HVAC , elevators and escalators , fire and security , building automation, and industrial products, among others. UTC was also a large military contractor, getting about 10% of its revenue from

2544-480: Was completed in April 2020. In March 2020, United Technologies Corporation announced the separations of Carrier Global and Otis Worldwide . In April 2008, Louis Chênevert succeeded George David as the company's chief executive officer (CEO). Chênevert served until 2014, when he was succeeded by Gregory Hayes . The chief financial officer 's (CFO) position was held by Gregory Hayes until 2014, when he succeeded Louis Chênevert as CEO. The chairman of

2597-656: Was discovered that UTC sold military technology to the Chinese. For pleading guilty to violating the Arms Export Control Act and making false statements, United Technologies and its subsidiaries were fined $ 75 million. In February 2013, UTC Power was sold to ClearEdge Power . In October 2014, Toshiba and United Technologies made a deal to expand their joint venture outside Japan . In February 2016, UTC subsidiary Carrier Air Conditioner announced to employees at its Indianapolis and Huntington plants, that Carrier

2650-504: Was partially to balance civilian business against any overreliance on military business. UTC became a mergers and acquisitions (M&A)–focused organization, with various forced takeovers of unwilling smaller corporations. The next year (1976), UTC forcibly acquired Otis Elevator . In 1979, Carrier Refrigeration and Mostek were acquired; the Carrier deal was forcible, while the Mostek deal

2703-502: Was partially to balance civilian business against any overreliance on military business. UTC became a mergers and acquisitions (M&A)–focused organization, with various forced takeovers of unwilling smaller corporations. The next year (1976), UTC forcibly acquired Otis Elevator . 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

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2756-734: Was preceded by the rebranding to RTX in June 2023. In July 2023, Raytheon Technologies Corporation changed its name to RTX Corporation. RTX's supply of weapons to Israel led to protests against the company during the 2023 Israel–Hamas war . On December 14, 2023, for example, protestors blocked the entrance to an RTX facility in Arizona. In early 2024, 15 people were arrested after blocking access to RTX and BAE Systems facilities in Louisville, Kentucky in protest against supplying weapons to Israel. In December 2023, RTX announced that CEO Greg Hayes would step down

2809-449: Was valued at US$ 98.6 billion in October 2018. UTC ranked No. 51 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. During the 2004 election cycle , UTC was the sixth largest defense industry donor to political campaigns, contributing a total of $ 789,561; 64% went to Republicans. In the 2006 election cycle , UTC was again the sixth largest donor to federal candidates and political parties; 53% of

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