June 18, 2019
In a partnership expected to advanced technologies that will address rapidly growing segments within aerospace and defense, Raytheon announced it has agreed to a “merger of equals” with United Technologies, according to a June 10 press release. The new company would be called Raytheon International.
“Today is an exciting and transformational day for our companies, and one that brings with it tremendous opportunity for our future success. Raytheon Technologies will continue a legacy of innovation with an expanded aerospace and defense portfolio supported by the world’s most dedicated workforce,” said Tom Kennedy, Raytheon chairman and CEO.
The board of directors of both organizations unanimously agreed that the joint endeavor will establish a broad and complementary portfolio of platform-agnostic capabilities. Additionally, the combined research and development investments will enable more rapid innovation.
According to the press release, “Areas of joint advancement include, but are not limited to: hypersonics and future missile systems; directed energy weapons; intelligence, surveillance, and reconnaissance (ISR) in contested environments; cyber protection for connected aircraft; next-generation connected airspace; and advanced analytics and artificial intelligence for commercial aviation.”
President Trump has weighed in with concerns over the deal, but officials at both companies have stated in published reports that they expect regulators to approve the agreement. The combined entity would become the second-largest defense-and-aerospace company in the U.S. after Boeing.