Raytheon and United Technologies Merging to Create One of the World’s Largest Defense Companies with a Focus on R&D
As the US military looking into investing in more cutting-edge technology and Pentagon contracts are highly competitive, more large companies are undertaking mergers and acquisitions to “expand technology and R&D capabilities”.
On the 10th of June 2019, aeroscape firms Raytheon Co. and United Technology Corp has been undertaking mererging. This would create Raytheon Technologies Corp., the combined company.
United Technologies Chief Executive Gregory Hayes said the diverse portfolios of the two would make the combined company “more resilient across the business cycles” and allow it to “support significant R&D investments that will help drive sustainable growth both for today and for decades to come”.
Merging our two companies brings Raytheon’s deep expertise to vehicle integration, advanced guidance and control and payload and combines it with UTC’s world-class propulsion technology.
The address delivered to investors on Monday indicates the joint company will heavily invest in R&D as the defense industry has been increasingly interested in developing new technologies such as hypersonic and laser weapons.
The merger is expected to be completed by the first half of 2020.