Raytheon Company and United Technologies Corporation have announced the completion of their corporate merger on April 3, 2020, with the new entity to be known as Raytheon Technologies.
“Today, we introduce Raytheon Technologies as an innovation powerhouse that will deliver advanced technologies that push the boundaries of known science,” said Tom Kennedy, Executive Chairman of Raytheon Technologies. “Our platform-agnostic, diversified portfolio brings together the best of commercial and military technology, enabling the creation of new opportunities across aerospace and defense for decades to come.”
Raytheon Technologies will comprise of four different companies engaged in the defence business. These are:
- Collins Aerospace Systems which specialises in aerostructures, avionics, interiors, mechanical systems, mission systems and power controls spanning the commercial, regional, business aviation and military sectors.
- Pratt & Whitney which designs, manufactures and services advanced aircraft engines and auxiliary power systems for commercial, military and business aircraft.
- Raytheon Intelligence & Space that specializes in developing sensors, training, and cyber and software solutions
- Raytheon Missiles & Defense which develops solutions to detect, track and engage threats.
Raytheon has a significant presence in Australia, with the company recently winning a multi-million dollar contract to deliver adversary air and testing services to the ADF.
Raytheon Technologies’ executive leadership team is comprised of Tom Kennedy, Executive Chairman, Greg Hayes, Chief Executive Officer, and Toby O’Brien, Chief Financial Officer. Additional leadership biographies are available on the company’s website.
The completion of the merger follows United Technologies successful divestment of its Carrier and Otis businesses lines.