RTX Corporation, formerly Raytheon Technologies Corporation,[2] is an American multinational aerospace and defense conglomerate headquartered in Arlington, Virginia. It is one of the largest aerospace and defense manufacturers in the world by revenue and market capitalization, as well as one of the largest providers of intelligence services. In 2023, the company's rank in the Forbes Global 2000 was 79. RTX manufactures aircraft engines, avionics, aerostructures, cybersecurity solutions, guided missiles, air defense systems, satellites, and drones. The company is a large military contractor, getting much of its revenue from the U.S. government.
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. The merged company adopted the better-known name of Raytheon in the form Raytheon Technologies Corporation and transferred its headquarters to Waltham, Massachusetts.[5] Former UTC CEO and chairman Gregory J. Hayes is chairman and CEO of the combined company,[6] which was renamed from Raytheon Technologies Corporation to RTX in July 2023.[2]
History
Raytheon
The Raytheon Company was founded in 1922 in Cambridge, Massachusetts, by Laurence K. Marshall, Vannevar Bush, and Charles G. Smith as the American Appliance Company.[7] 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.[8] The electron tube was christened with the name Raytheon ("light of/from the gods"[9]) and was used in a battery eliminator, 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
Business units
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:[71][72]
- Pratt & Whitney: Designs and builds aircraft engines and gas turbines.[43]
- Pratt & Whitney Canada
- Collins Aerospace: 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 in 2018 and combining that business with UTC Aerospace Systems, which itself was the result of a 2012 merger of
External links
References
- Raytheon Technologies Form 10-K Annual Report U.S. Securities and Exchange Commission, February 6, 2026^
- Jaime Moore-Carrillo. Raytheon rebrands as RTX DefenseNews.com, Defense News, June 20, 2023, retrieved June 21, 2023^
- BREAKING: Arlington scores another major corporate headquarters