15 Facts About Raytheon

Raytheon Technologies Corporation is an American multinational aerospace and defense conglomerate headquartered in Arlington, Virginia.

Raytheon is a large military contractor, getting a significant portion of its revenue from the US government.

Raytheon Company was founded in 1922 in Cambridge, Massachusetts, by Laurence K Marshall, Vannevar Bush, and Charles G Smith as the American Appliance Company.

The electron tube was christened with the name Raytheon 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.

Raytheon ranked 71st among United States corporations in the value of World War II military production contracts.

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In 1948, Raytheon began to manufacture guided missiles, including the SAM-N-2 Lark, the air-to-air AIM-7 Sparrow, and the ground-to-air MIM-23 Hawk missiles.

In 1959, Raytheon acquired the marine electronics company Apelco Applied Electronics, which significantly increased its strength in commercial marine navigation and radio gear, and changed its name to Raytheon Company.

Also in 1997, Raytheon acquired the aerospace and defense business of Hughes Aircraft Company from Hughes Electronics Corporation, a subsidiary of General Motors, which included a number of product lines previously purchased by Hughes Electronics, including the former General Dynamics missile business, the defense portion of Delco Electronics, and Magnavox Electronic Systems.

Raytheon divested itself of several nondefense businesses in the 1990s, including Amana Refrigeration and Seismograph Service Ltd.

In November 2007, Raytheon purchased robotics company Sarcos, and in October 2009, Raytheon acquired BBN Technologies.

In October 2014, Raytheon beat rivals Lockheed Martin and Northrop Grumman for a contract to build 3DELRR, a next-generation long-range radar system, for the US Air Force worth an estimated $1 billion.

In May 2015, Raytheon acquired cybersecurity firm Websense, Inc from Vista Equity Partners for $1.

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, to replace the service's Patriot air and missile defense system sensor.

Raytheon pursued a strategy of growth and diversification, changing the parent corporation's name to United Technologies Corporation in 1975 to reflect the intent to diversify into numerous high tech fields beyond aerospace.

Raytheon Technologies began trading at $51 per share, on the New York Stock Exchange under the ticker RTX.