Raytheon Technologies Corporation - statistics & facts

The Raytheon Technologies Corporation (RTC) provides a range of high-technology products and services to the global aerospace and defense industries. The company was formed after the merger of United Technologies Corporation (UTC) and Raytheon Company in April 2020.

Business performance of RTC

In 2020, RTC generated net sales of almost 58.6 billion U.S. dollars and reported net income loss of just under three billion U.S. dollars. Over recent years, UTC’s research and development expenditure increased steadily only to drop to 2.6 billion U.S. dollars in 2020 after the merger. In that year, RTC employed 174,000 people globally to perform its diversified business performance.

The merger of UTC with Raytheon

The multinational company with headquarters in Connecticut, namely UTC, finalized the deal with Raytheon, one of the largest aerospace and defense companies worldwide. U.S. antitrust officials approved the merger in June 2019, which lasted almost a year to fully complete the merger process and spinoff of two subsidiaries of UTC, namely Collins and Otis. Through this merger, Raytheon Technologies was formed with the operational head moved to Massachusetts. Prior to the merger, UTC was composed of four subsidiary companies, namely Collins Aerospace Systems, Pratt & Whitney, Carrier Global, and Otis Worldwide. Each of these subsidiaries performing in a different field or industry. As one of the leaders in their field of operation, Collins Aerospace Systems provide aerospace engineering technologies and Pratt & Whitney manufacture aerospace products. During the merger of UTC and Raytheon, Collins Aerospace Systems and Pratt & Whitney were merged into Raytheon, to form Raytheon Technologies.
Nevertheless, this was not the case for Carrier and Otis. Carrier was acquired by UTC in 1979 but while the merger with Raytheon was happening, the Carrier Global was disintegrated from the UTC Corporation as an independent company in 2020. Otis Elevator Company was also a UTC subsidiary and the largest manufacturer of vertical transportation systems, including elevators, escalators and many other advanced smart technology. In 2020, it generated almost 12.8 billion U.S. dollars in net sales. During the merger process in 2020, the complete spinoff of Carrier Global Corp and Otis Worldwide Corp took place due to anti-trust measures to inhibit high market power concentration at hands of Raytheon Technologies. Thus, a new merger led to the formation of two independent companies. Today, Raytheon Technologies is the third-largest aerospace and defense manufacturer in the world.

Key figures

The most important key figures provide you with a compact summary of the topic of "Raytheon Technologies Corporation" and take you straight to the corresponding statistics.

Financials

Segments

Competitors

Raytheon Technologies

Dossier on the topic

All important statistics are prepared by our experts – available for direct download as PPT & PDF!
TOP SELLER

Raytheon Technologies Corporation - statistics & facts

The Raytheon Technologies Corporation (RTC) provides a range of high-technology products and services to the global aerospace and defense industries. The company was formed after the merger of United Technologies Corporation (UTC) and Raytheon Company in April 2020.

Business performance of RTC

In 2020, RTC generated net sales of almost 58.6 billion U.S. dollars and reported net income loss of just under three billion U.S. dollars. Over recent years, UTC’s research and development expenditure increased steadily only to drop to 2.6 billion U.S. dollars in 2020 after the merger. In that year, RTC employed 174,000 people globally to perform its diversified business performance.

The merger of UTC with Raytheon

The multinational company with headquarters in Connecticut, namely UTC, finalized the deal with Raytheon, one of the largest aerospace and defense companies worldwide. U.S. antitrust officials approved the merger in June 2019, which lasted almost a year to fully complete the merger process and spinoff of two subsidiaries of UTC, namely Collins and Otis. Through this merger, Raytheon Technologies was formed with the operational head moved to Massachusetts. Prior to the merger, UTC was composed of four subsidiary companies, namely Collins Aerospace Systems, Pratt & Whitney, Carrier Global, and Otis Worldwide. Each of these subsidiaries performing in a different field or industry. As one of the leaders in their field of operation, Collins Aerospace Systems provide aerospace engineering technologies and Pratt & Whitney manufacture aerospace products. During the merger of UTC and Raytheon, Collins Aerospace Systems and Pratt & Whitney were merged into Raytheon, to form Raytheon Technologies.
Nevertheless, this was not the case for Carrier and Otis. Carrier was acquired by UTC in 1979 but while the merger with Raytheon was happening, the Carrier Global was disintegrated from the UTC Corporation as an independent company in 2020. Otis Elevator Company was also a UTC subsidiary and the largest manufacturer of vertical transportation systems, including elevators, escalators and many other advanced smart technology. In 2020, it generated almost 12.8 billion U.S. dollars in net sales. During the merger process in 2020, the complete spinoff of Carrier Global Corp and Otis Worldwide Corp took place due to anti-trust measures to inhibit high market power concentration at hands of Raytheon Technologies. Thus, a new merger led to the formation of two independent companies. Today, Raytheon Technologies is the third-largest aerospace and defense manufacturer in the world.

Interesting statistics

In the following 4 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Raytheon Technologies Corporation".

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Hadley Ward
Hadley Ward
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Ziyan Zhang
Ziyan Zhang
Customer Relations– Contact (Asia)

Mon - Fri, 11:30am - 10pm (IST)

Contact Kisara Mizuno
Kisara Mizuno
Customer Success Manager– Contact (Asia)

Mon - Fri, 9:30am - 5:30pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Catalina Rodriguez
Catalina Rodriguez
Key Account Manager - LAC– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)