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Raytheon

Coordinates:42°24′20.1″N71°16′57.8″W/ 42.405583°N 71.282722°W/42.405583; -71.282722
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This article is about the defunct company prior to its merger withUnited Technologies.For the post-merger company, seeRTX Corporation.
Raytheon Company
Company typePublic
NYSE:RTX
IndustryAerospaceanddefense
FoundedJuly 7, 1922;101 years ago(1922-07-07),inCambridge, Massachusetts,U.S.
FounderVannevar Bush
Laurence K. Marshall
Charles G. Smith
DefunctApril 3, 2020(2020-04-03)
FateMerged withUnited Technologies
SuccessorRTX Corporation
HeadquartersWaltham, Massachusetts,U.S.
Area served
Worldwide
Key people
Thomas A. Kennedy[1](chairmanandCEO)
Revenue29,176,000,000 United States dollar (2019)Edit this on Wikidata
3,342,000,000 United States dollar (2019)Edit this on Wikidata
Number of employees
~67,000 (2018)[2]
Websiteraytheon(Archived)

TheRaytheon Companywas a majorU.S. defense contractorand industrial corporation withmanufacturingconcentrations inweaponsand military and commercialelectronics.It was previously involved in corporate and special-missionaircraftuntil early 2007. Raytheon was the world's largest producer ofguided missiles.[3]In April 2020, the Raytheon Company merged withUnited Technologies Corporationto form Raytheon Technologies,[4]which changed its name toRTX Corporationin July 2023.

Raytheon was originally established in 1922,reincorporatedin 1928, and adopted the Raytheon Company name in 1959. During 2018, the company had around 67,000 employees worldwide and annual revenues of approximatelyUS$25.35 billion.[5]More than 90% of Raytheon's revenues were obtained from military contracts and, as of 2012, it was the fifth-largest military contractor in the world.[6]As of 2015,it was the third largestdefense contractor in the United Statesby defenserevenue.[7]

In 2003, Raytheon's headquarters moved fromLe xing ton, Massachusetts,toWaltham, Massachusetts.[8]The company had previously been headquartered inCambridge, Massachusetts,from 1922 to 1928,Newton, Massachusetts,from 1928 to 1941, Waltham from 1941 to 1961 and Le xing ton from 1961 to 2003.

History[edit]

An early Raytheon tube box
A RaytheonTomahawk Block IVcruise missile during a U.S. Navy flight test atNAWS China Lake,California (November 10, 2002)

Early years[edit]

In 1922,Vannevar Bush,scientist and professor in the Department of Electrical Engineering at theMassachusetts Institute of Technology(MIT), along with engineer and physicist Laurence K. Marshall, and scientist Charles G. Smith, founded the American Appliance Company inCambridge, Massachusetts.[9]Its focus, which was originally on newrefrigerationtechnology, soon shifted toelectronics.The company's first product was a gaseous (helium)voltage-regulator tubethat was based on Charles Smith's earlierastronomicalresearch of the starZeta Puppis.[10]The electron tube was christened with the nameRaytheon(a compound of Old French and Greek meaning 'light from the gods')[11]and was used in abattery eliminator,a type ofradio-receiverpower supplythat plugged into thepower gridin place of largebatteries.This made it possible to convert householdalternating currentto a regulated, high voltagedirect currentfor 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 the successor of the same name, Raytheon Manufacturing Company.[citation needed]By the 1930s, it had already grown to become one of the world's largest vacuum tube manufacturing companies.[citation needed]In 1933 it diversified by acquiring Acme-Delta Company, a producer oftransformers,power equipment, and electronicauto parts.[citation needed]

During World War II[edit]

Early inWorld War II,physicistsin theUnited Kingdominvented themagnetron,a specializedmicrowave-generating electron tube that markedly improved the capability of radar to detect enemy aircraft. American companies were then sought by the US government to perfect andmass-producethe magnetron for ground-based, airborne, and shipborne radar systems, and, with support from theMassachusetts Institute of Technology'sRadiation Laboratory(recently formed to investigatemicrowave radar), Raytheon received a contract to build the devices. Within a few months of being awarded the contract, Raytheon had already begun to mass manufacturemagnetrontubes for use in radar sets and then completeradar systems.At war's end in 1945 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.[12]

Raytheon's research on the magnetron tube revealed the potential of microwaves to cook food. In 1945, Raytheon'sPercy Spencerinvented themicrowave ovenby discovering that the magnetron could rapidly heat food. In 1947, the company demonstrated the Radarange microwave oven for commercial use.[13]

Raytheon was also a contractor for the mass-production of the newly invented miniatureshock-resistantvacuum tubes used inproximity fuses.These tubes were difficult to manufacture and required rigorous attention to detail to avoid failure of the fuse.[14]

After World War II[edit]

In 1946, the company expanded its electronics capability through acquisitions that included the Submarine Signal Company (founded in 1901), a leading manufacturer of maritime safety equipment. With its broadened capabilities, Raytheon developed the firstguidance systemfor a missile that could intercept a flying target. In 1948Charles Francis Adams IVwas appointed to be the new President of the company and served until 1960. In 1948, Raytheon began to manufactureguided missiles.In 1950, itsLarkmissile became the first such weapon to destroy a target aircraft in flight. Raytheon then received military contracts to develop the air-to-airSparrowand ground-to-airHawkmissiles, projects that received impetus from theKorean War.In later decades, it remained a major producer of missiles, such as thePatriot antimissile missileand the air-to-airPhoenix missile.

Raytheon made a foray into computers, producing theRAYDACcomputer for the U.S.Navy which became operational in 1953. "Unfortunately, the machine was technically obsolete by the time it was operational."[citation needed]Also in 1953 the company began work on a follow-on, the RAYCOM, which was never completed.[15]In 1954 it entered into a joint venture withHoneywellto form the Datamatic corporation. However it sold its interest to Honeywell a year later, before introduction of theDATAmatic 1000system.

In 1958, Raytheon acquired the marine electronics company Applied Electronics Company, which significantly increased its strength in commercial marine navigation and radio gear, as well as less-expensive Japanese suppliers of products such as marine/weather band radios anddirection-finding gear.[16][failed verification]In the same year, it changed its name toRaytheon Company.

During the post-war years, Raytheon also made generally low- to medium-powered radio and televisiontransmittersand related equipment for the commercial market, but the high-powered market was solidly in the hands of larger, better-financed competitors such asContinental Electronics,General ElectricandRadio Corporation of America.

In the 1950s, Raytheon began manufacturingtransistors,including theCK722,priced and marketed to hobbyists.

In 1961, the British electronics companyA.C. Cossormerged with Raytheon, following its sale byPhilips.The new Company's name was Raytheon Cossor. The Cossor side of the organisation is still current in the Raytheon group as of 2010.

In 1965, it acquiredAmana Refrigeration,Inc., a manufacturer ofrefrigeratorsandair conditioners.Using the Amana brand name and its distribution channels, Raytheon began selling the first countertop householdmicrowave ovenin 1967 and became a dominant manufacturer in the microwave oven business.

In 1966, the company entered the educationalpublishingbusiness with the acquisition ofD.C. Heath and Company,marketing an influential physics textbook developed by thePhysical Science Study Committee.Raytheon also manufactured theApollo Guidance Computer,which was introduced that year and flew aboard allNASAProject Apollomissions.

In the late 1970s, Raytheon acquiredMcGraw-Edison's appliances division notable for theSpeed Queenline of washers and dryers.

1980s[edit]

In 1980, Raytheon acquiredBeech Aircraft Corporation,a leading manufacturer of general aviation aircraft founded in 1932 byWalter H. Beech.In 1993 the company expanded its aircraft activities by adding the Hawker line of business jets by acquiring Corporate Jets Inc., the business jet product line ofBritish Aerospace(nowBAE Systems). These two entities were merged in 1994 to become the Raytheon Aircraft Company. In the first quarter of 2007 Raytheon sold its aircraft operations, which subsequently operated asHawker Beechcraft,and since 2014 have been units ofTextron Aviation.The product line of Raytheon's aircraft subsidiary includedbusiness jetssuch as theHawker 800XPandHawker 4000,theBeechjet 400A,and thePremier I;the popularKing Airseries of twin turboprops; and piston-engine aircraft such as theBonanza.Its special-mission aircraft included the single-turbopropT-6A Texan II,which theUnited States Air ForceandUnited States Navyhad chosen as their primarytraining aircraft.

1990s[edit]

In 1991, during thePersian Gulf War,Raytheon'sPatriot missilereceived great international exposure, resulting in a substantial increase in sales for the company outside the United States. In an effort to establish leadership in the defense electronics business, Raytheon purchased in quick succession Dallas-basedE-Systems(1995);Chrysler Corporation's defense electronics and aircraft-modification businesses, which had previously acquired companies such as Electrospace systems (1996) (portions of these businesses were later sold toL-3 Communications), and the defense unit ofTexas Instruments,Defense Systems & Electronics Group(1997). Also in 1997, Raytheon acquired the aerospace and defense business ofHughes Aircraft CompanyfromHughes Electronics Corporation,a subsidiary ofGeneral Motors,which included a number of product lines previously purchased by Hughes Electronics, including the formerGeneral Dynamicsmissilebusiness (Pomona facility), the defense portion ofDelco Electronics(Delco Systems Operations), andMagnavox Electronic Systems.[citation needed]

Raytheon also divested itself of several nondefense businesses in the 1990s, includingAmana Refrigeration,Raytheon Commercial Laundry (purchased byBain Capital'sAlliance Laundry Systems), and Seismograph Service Ltd (sold toSchlumberger-Geco-Prakla). On October 12, 1999, Raytheon exited thepersonal rapid transit(PRT) business as it terminated itsPRT 2000[17]system due to the high cost of development and the lack of interest.[18]

2000s[edit]

During theSeptember 11 attacksof 2001, Raytheon had an office in the South Tower of theWorld Trade Centeron the 91st floor. Their office, being 6 floors above whereUnited Airlines Flight 175collided with the building, was spared from the immediate collision, but was utterly destroyed in the subsequent collapse of the South Tower.[19]

In November 2007, Raytheon purchasedSarcosfor an undisclosed sum, seeking to expand into robotics research and production.[20]

2010s[edit]

The 3DELRR long-range radar system in 2021

In December 2010,Applied Signal Technologyagreed to be acquired by Raytheon for $490 million.[21]

In October 2014, Raytheon beat rivalsLockheed MartinandNorthrop Grummanfor a contract to build 3DELRR, a next-generation long-range radar system, for the USAF worth an estimated $1 billion.[22]

The contract award was immediately protested by Raytheon's competitors, Lockheed Martin and Northrop Grumman. After re-evaluating the bids following the protests,[23]the USAF decided to delay awarding the 3DELRR EMD contract until 2017 and was to issue an amended solicitation at the end of July 2016.[24]In 2017 the USAF again awarded the contract to Raytheon.[25]

In May 2015, Raytheon acquired cybersecurity firm Websense, Inc. from Vista Equity Partners for $1.9 billion[26]and combined it with RCP, formerly part of its IIS segment to form Raytheon|Websense.[27]In October 2015, Raytheon|Websense acquired Foreground Security for $62 million.[28]In January 2016, Raytheon|Websense acquired the firewall provider Stonesoft fromIntelSecurity for an undisclosed amount and renamed itself to Forcepoint.[29]

In July 2016,Poland'sDefence MinisterAntoni Macierewiczplanned to sign a letter of intent with Raytheon for a $5.6 billion deal to upgrade its Patriot missile-defence shield.[30][31]

In 2017,Saudi Arabia signed business dealsworth billions of dollars with multiple American companies, including Raytheon.[32][33]

In July 2019,Qatar's Ministry of Defense committed to acquire Raytheon'sNASAMand Patriot missile defense systems.[34]

2020s[edit]

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.[35]

In April 2020, the company merged withUnited Technologies Corporationto formRaytheon Technologies.[4]The merged company is headquartered in Arlington, Virginia rather than UTC's base inFarmington, Connecticut.[36]

In July 2023, Raytheon Technologies renamed themselves toRTX Corporationand merged theRaytheon Intelligence & SpaceandRaytheon Missiles & Defensebusiness segments to form a newRaytheonbusiness segment.[37]

Finances[edit]

For the fiscal year 2017, Raytheon reported earnings of US$2.024 billion, with an annual revenue of US$25.348 billion, an increase of 5.1% over the previous fiscal cycle. Raytheon's shares traded at over $164 per share, and its market capitalization was valued at over US$51.7 billion in November 2018.[38]

Year Revenue
in mil. US$ 		Net income
in mil. US$ 		Total assets
in mil. US$ 		Price per share
in US$ 		Employees
2005 18,491 871 24,381 27.58
2006 19,707 1,283 25,491 33.92
2007 21,301 2,578 23,281 42.79
2008 23,174 1,672 23,134 44.40
2009 24,881 1,935 23,607 35.95
2010 25,150 1,840 24,422 40.55
2011 24,791 1,866 25,854 38.75
2012 24,414 1,888 26,686 46.38
2013 23,706 1,996 25,967 61.96 63,000
2014 22,826 2,244 27,716 89.54 61,000
2015 23,321 2,110 29,281 102.58 61,000
2016 24,124 2,244 30,238 128.50 63,000
2017 25,348 2,024 30,860 164.75 64,000

Company structure[edit]

Businesses[edit]

Raytheon is composed of five major business divisions:[39]

Raytheon's businesses are supported by several dedicated international operations including: Raytheon Australia; Raytheon Canada Limited; operations inJapan;Raytheon Microelectronics inSpain;Raytheon UK (formerly Raytheon Systems Limited); andThalesRaytheonSystems,France.

Strategic Business Areas[edit]

In recent years, Raytheon has expanded into other fields while redefining some of its core business activities. Raytheon has identified five key 'Strategic Business Areas' where it is focusing its expertise and resources:

Leadership[edit]

In March 2014, Thomas Kennedy was named CEO of Raytheon Company.[40]Kennedy succeededWilliam H. Swanson,who was CEO since 2003. Swanson remained asChairmanthrough September 2014 when Kennedy became chairman as well as CEO.[41]Other current and former members of theboard of directorsof Raytheon were:Vernon Clark,James E. Cartwright,John Deutch,Stephen J. Hadley,George R. Oliver, Frederic Poses, Michael Ruettgers, Ronald Skates, William Spivey, and Linda Stuntz.[42]

Ownership[edit]

As of December 2014, according to filed reports, the top ten institutional shareholders of Raytheon areWellington Management Company,Vanguard Group,State Street Corporation,Barrow, Hanley, Mewhinney & Strauss,BlackRockInstitutional Trust Company, BlackRock Advisors,Bank of America,Bank of New York Mellon,Deutsche BankandMacquarie Group.[43]

Products and services[edit]

Overview[edit]

See also:Category:Raytheon Company products

Raytheon provides electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems; as well as a broad range of mission support services.

Raytheon's electronics and defense-systems units produce air-, sea-, and land-launchedmissiles,aircraft radar systems, weapons sights and targeting systems, communication and battle-management systems, and satellite components.

Air traffic control systems[edit]

  • FIRSTplus Air Traffic Control Simulator
  • AutoTrac III ATM System
  • STARS

Radars and sensors[edit]

APAVE PAWS Early Warning Radar Systembuilt by Raytheon, based atClear AFS,Alaska

Raytheon is a developer and manufacturer ofradars(includingAESAs), electro-optical sensors, and other advanced electronics systems for airborne, naval and ground based military applications. Examples include:

Satellite sensors[edit]

Raytheon, often in conjunction withBoeing,Lockheed Martin or Northrop Grumman, is also heavily involved in the satellite sensor business. Much of its Space and Airborne Systems division inEl Segundo,CAis devoted to this, a business it inherited fromHughes.Examples of programs include:

  • Space Tracking and Surveillance System(STSS), being developed for theBallistic Missile Defense.Raytheon is building the sensor payload.[citation needed]Additionally, the El Segundo site is the company center of excellence for the development and production oflaserproducts.
  • Raytheon company's Navy Multiband Terminal (NMT) is the first advanced, next-generation satellite communications (SATCOM) system to successfully log on to and communicate with the U.S. government's Milstar SATCOM system using low and medium data rate waveforms. The system provides naval commanders and sailors with greater data capacity, as well as improved protection against enemy intercept and jamming.
  • Visible Infrared Imaging Radiometer Suite(VIIRS), was developed by Raytheon Space and Airborne Sensors and is currently in operation on theSuomi NPPsatellite. Future deliveries of VIIRS will fly onboardJPSSto continue the operational space based climate and weather sensing legacy of theMODISsensors.[44]

Communications[edit]

Radioactive materials detection system[edit]

As part of the company's growinghomeland securitybusiness and strategic focus, Raytheon has teamed with other contractors to develop an Advance Spectroscopic Portal (ASP) to allow border officials to view and identifyradioactivematerials in vehicles andshipping containersmore effectively.[46]

Semiconductors[edit]

Raytheon also manufacturessemiconductorsfor the electronics industry in sites in the US and UK. In the late 20th century it produced a wide range ofintegrated circuitsand other components, but as of 2003 its US semiconductor business specializes ingallium arsenide(GaAs) components for radio communications as well asinfrared detectors.It is also making efforts to developgallium nitride(GaN) components for next-generation radars and radios. The UK arm specialized in CMOS onsilicon carbide(SiC) development and foundry work but is no longer taking on new orders, having been on the premises for 57 years.

Missile defense systems[edit]

In the framework ofGround-Based Midcourse Defense,Raytheon is developing aGround Based Interceptor(GBI) that includes a booster missile and akineticExoatmospheric Kill Vehicle(EKV), along with several key radar components, such as theSea-Based X-Band Radar(SBX) and theUpgraded Early Warning Radar(UEWR).

Missiles[edit]

Raytheon missileson display at theParis Air Show,2005

Raytheon is a developer of missiles and related missile defense systems. These include:

Environmental record[edit]

Two lawsuits were filed against a Raytheon Company plant in St. Petersburg, Florida, due to concern with health risks, property values, and contamination in April 2008.[48]Raytheon was given until the end of the month to independently test whether or not the groundwater that originated from its area was contaminated. According to theFlorida Department of Environmental Protection(DEP), the groundwater containedcarcinogeniccontaminants, includingtrichloroethylene,1,4-dioxane,andvinyl chloride.[49]The DEP also reported that the clouds contained other toxins, such as lead andtoluene.[48]

In 1995, Raytheon acquired Dallas-based E-Systems, including a site inSt. Petersburg, Florida.In November 1991, prior to Raytheon's acquisition, contamination had been discovered at the E-Systems site. Soil and groundwater had been contaminated with the volatile organic compounds trichloroethylene and 1,4-Dioxane. In 2005, groundwater monitoring indicated polluted groundwater was moving into areas outside the site.[50]According to DEP documentation, Raytheon has tested wells on its site since 1996 but had not delivered a final report; therefore, it was given a deadline on May 31, 2008, to investigate its groundwater.[48]Contamination in the area has not affected anyone's drinking water supply or health, yet due to negative local media coverage lawsuits are being filed with claims against Raytheon citing decreases in property values.[51]

In another case, Raytheon was ordered by theEnvironmental Protection Agency(EPA) to treat groundwater at the Tucson Plant (acquired during the merger with Hughes) in Arizona since Raytheon used and disposed metals,chlorinated solvents,and other substances at the plant since 1951.[52]The EPA further required the installation and operation of an oxidation process system to treat the solvents and make the water safe to drink.[52]

On 9 August 2006, The Stream Contact Centre in Derry, Northern Ireland, which had a contract with Raytheon at the time, wasattacked by protesters.They destroyed the computers, documents, and mainframe of the office, and proceeded to occupy it for eight hours prior to their arrest.

The activists were charged with criminal damage and affray under terrorism laws.[53]The trial of six of the accused began May 19, 2008, in the Laganside Courts in Belfast. Colm Bryce, Gary Donnelly, Kieran Gallagher, Michael Gallagher, Sean Heaton, Jimmy Kelly, Paddy McDaid and Eamonn O'Donnell were acquitted of all charges on 11 June, with Eamonn McCann found guilty of the theft of two computer discs.

By 2013, the company was also awarded the Goal Achievement Award by the EPA for excellence in greenhouse gas management.[54]

See also[edit]

References[edit]

  1. ^"Archived copy"(PDF).Archived fromthe original(PDF)on 2015-01-04.Retrieved2015-01-04.{{cite web}}:CS1 maint: archived copy as title (link)
  2. ^"Raytheon Company 2017 Annual Report (Form 10-K)".sec.gov.United States Securities and Exchange Commission.January 2018.
  3. ^Missile maker hopes to diversify, create technology for peacetimeArchived2012-02-11 at theWayback Machine.Sazhightechconnect. Retrieved on 2012-02-04.
  4. ^abKilgore, Tomi (April 4, 2020)."Raytheon Technologies' stock, formerly United Technologies, starts trading in".MarketWatch.
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  11. ^"100 Years of Era-Defining Innovation: Celebrating the Centennial Anniversary of Raytheon Company".Raytheon Technologies.Raytheon Technologies Corporation.RetrievedJanuary 29,2023.
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  15. ^Flamm, Kenneth (2010).Creating the Computer: Government, Industry and High Technology.Brookings Institution Press. p.113.ISBN978-0-8157-2850-4.RetrievedAug 21,2019.
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  17. ^PRT 2000 System Concept,"Design and Commercialization of the PRT 2000 Personal Rapid Transit System" by S. J. Gluck, R. Tauber and B. Schupp. University of Washington Web Server.
  18. ^Raytheon PRT Prospects Dim but not Doomed. Peter Samuel.October 1999.
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  22. ^Raytheon wins deal for next-generation U.S. Air Force radar.Reuters,7 October 2014
  23. ^Mehta, Aaron (22 January 2015)."US Air Force to Reevaluate 3DELRR Award".Retrieved7 August2017.
  24. ^USAF delays awarding 3DELRR EMD contract until 2017.Janes,15 July 2016
  25. ^Mehta, Aaron (2017-08-08)."Raytheon awarded 3DELRR radar contract for second time".DefenseNews.RetrievedAug 20,2019.
  26. ^Jaisinghani, Sagarika (2015-04-25)."Raytheon to buy cybersecurity firm Websense in $1.9 billion deal".Reuters.Retrieved2018-10-30.
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  29. ^Riley, Duncan (2016-01-14)."Raytheon|Websense acquires Stonesoft from Intel Security, renames combined company Forcepoint".SiliconANGLE.Retrieved2018-10-31.
  30. ^"Rocketing around the world".The Economist.ISSN0013-0613.Retrieved2016-07-23.
  31. ^"Poland moves towards multi-billion-euro Patriot missile deal".Retrieved2016-07-23.
  32. ^"Saudi Arabia agrees to buy $7 billion in precision munitions from U.S. firms: sources".Reuters. November 23, 2017.
  33. ^"Raytheon Arm Wins $302M Deal to Boost Saudi Arabia's Defense".Nasdaq. December 13, 2017.
  34. ^"Qatar Agrees to Buy U.S. Aircraft, Engines, Defense Equipment".Bloomberg.Bloomberg. 9 July 2019.Retrieved9 July2019.
  35. ^Judson, Jen (2020-02-21)."Raytheon completes first antenna for US Army's new missile defense radar".Defense News.Retrieved2020-02-21.
  36. ^Singer, Stephen (2019-06-09)."United Technologies says its merging with defense contractor Raytheon and moving headquarters to Boston area from Connecticut".Hartford Courant.Retrieved2019-06-10.
  37. ^Moore-Carrillo, Jaime (June 20, 2023)."Raytheon rebrands as RTX".DefenseNews.Defense News.RetrievedJune 21,2023.
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  53. ^Horgan, Gorreti (2006-08-19)."Irish civil rights leader Eamonn McCann arrested at occupation of Raytheon".Socialist Worker.Retrieved2023-07-03.
  54. ^US EPA, OAR (2015-07-30)."2013 Climate Leadership Award Winners".epa.gov.Retrieved2023-07-03.

External links[edit]

Wikimedia Commons has media related toRaytheon.
  • Raytheon Company website (Archived)
    • Historical business data for Raytheon Company:
    • SEC filings

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