Raytheon was established in 1922, reincorporated in 1928, and adopted the Raytheon Company name in 1959. 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.[4]As of 2015[update], it was the third-largest defense contractor in the United States by defense revenue.[5] It was the world's largest producer of guided missiles, and was involved in corporate and special-mission aircraft until early 2007. [6] In 2018, the company had around 67,000 employees worldwide and annual revenues of about US$25.35 billion.[7]
Over the years, Raytheon shifted its headquarters among various Massachusetts locations: Cambridge from 1922 to 1928; Newton until 1941; Waltham until 1961; and finally, Lexington until 2003.[8]
History
An early Raytheon tube boxA Raytheon Tomahawk Block IV cruise missile during a U.S. Navy flight test at NAWS China Lake, California (November 10, 2002)
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 of transformers, power equipment, and electronic auto parts.[citation needed]
During World War II
Early in World War II, physicists in the United Kingdom invented the magnetron, a specialized microwave-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 and mass-produce the magnetron for ground-based, airborne, and shipborne radar systems, and, with support from the Massachusetts Institute of Technology's Radiation Laboratory (recently formed to investigate microwave radar), Raytheon received a contract to build the devices. Within a few month, Raytheon began to manufacture magnetron tubes for use in radar sets, and then complete radar systems. During the war, Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection. Raytheon was also a contractor for the mass-production of miniature shock-resistant vacuum tubes used in proximity fuses. These tubes were difficult to manufacture and required rigorous attention to detail.[12] At war's end in 1945, the company had built about 80 percent of all magnetrons. Raytheon ranked 71st among U.S. corporations in the value of World War II military production contracts.[13]
In 1945, Raytheon's Percy Spencer invented the microwave oven by discovering that the magnetron could rapidly heat food. In 1947, the company demonstrated the Radarange microwave oven for commercial use.[14]
After World War II
During the post-war years, Raytheon also made generally low- to medium-powered radio and television transmitters and related equipment for the commercial market, but the high-powered market was solidly in the hands of larger, better-financed competitors such as Continental Electronics, General Electric and Radio Corporation of America.
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 first guidance system for a missile that could intercept a flying target. In 1948, Charles Francis Adams IV was appointed president of the company and served until 1960. In 1948, Raytheon began to manufacture guided missiles. In 1950, its Lark became the first such missile to destroy a target aircraft in flight. Raytheon then received military contracts to develop the air-to-air Sparrow and ground-to-air Hawk missiles, projects that received impetus from the Korean War. In later decades, it remained a major producer of missiles, such as the Patriot antimissile missile and the air-to-air Phoenix missile.
Raytheon made a foray into computers, producing the RAYDAC computer 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 with Honeywell to form the Datamatic corporation. However it sold its interest to Honeywell a year later, before introduction of the DATAmatic 1000 system.
In 1958, Raytheon acquired the marine electronics company Applied Electronics Company to make commercial marine navigation and radio gear, as well as less-expensive Japanese suppliers of products such as marine/weather band radios and direction-finding gear.[16][failed verification] In the same year, it changed its name to Raytheon Company.
In the 1950s, Raytheon began manufacturing transistors, including the CK722, priced and marketed to hobbyists.
In 1961, the British electronics company A.C. Cossor merged with Raytheon, following its sale by Philips. The new company's name was Raytheon Cossor. The Cossor side of the organisation was still in the Raytheon group in 2010.
In 1965, it acquired Amana Refrigeration, Inc., a manufacturer of refrigerators and air conditioners. Using the Amana brand name and its distribution channels, Raytheon began selling the first countertop household microwave oven in 1967 and became a dominant manufacturer in the microwave oven business.
In the late 1970s, Raytheon acquired McGraw-Edison's appliances division notable for the Speed Queen line of washers and dryers.
1980s
In 1980, Raytheon acquired Beech Aircraft Corporation, a leading manufacturer of general aviation aircraft founded in 1932 by Walter 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 of British Aerospace (now BAE 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 as Hawker Beechcraft, and since 2014 have been units of Textron Aviation. The product line of Raytheon's aircraft subsidiary included business jets such as the Hawker 800XP and Hawker 4000, the Beechjet 400A, and the Premier I; the popular King Air series of twin turboprops; and piston-engine aircraft such as the Bonanza. Its special-mission aircraft included the single-turboprop T-6A Texan II, which the United States Air Force and United States Navy had chosen as their primary training aircraft.
During the September 11 attacks of 2001, Raytheon had an office in the South Tower of the World Trade Center on the 91st floor. Their office, being 6 floors above where United Airlines Flight 175 collided 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 purchased Sarcos for an undisclosed sum, seeking to expand into robotics research and production.[20]
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 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 from Intel Security for an undisclosed amount and renamed itself to Forcepoint.[29]
In July 2016, Poland's Defence Minister Antoni Macierewicz planned to sign a letter of intent with Raytheon for a $5.6 billion deal to upgrade its Patriot missile-defence shield.[30][31]
In July 2019, Qatar's Ministry of Defense committed to acquire Raytheon's NASAM and Patriot missile defense systems.[34] The company would later be fined for paying bribes to a Qatari officials to influence defense purchases.[35]
2020s
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.[36]
In August 2024, RTX agreed to pay a $200 million fine for the unauthorized export of defense technology to China, Russia, Iran, and elsewhere, to settle more than 750 violations of the Arms Export Control Act and the International Traffic in Arms Regulations, or ITAR. The company was allowed to pay only half the fine to the government and to put half of the fine toward “remedial compliance measures to strengthen RTX’s compliance program.”[39] In October 2024, RTX agreed to pay nearly $1 billion to settle allegations of defrauding the U.S. Defense Department and bribing a Qatari military official. Company officials said the misconduct mostly occurred before 2020 and pledged to improve its compliance programs.[35]
Finances
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$51.7 billion in November 2018.[40]
Year
Revenue in mil. US$
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
Businesses
Raytheon is composed of five major business divisions:[41]
Raytheon's businesses are supported by several dedicated international operations including: Raytheon Australia; Raytheon Canada Limited; operations in Japan; Raytheon Microelectronics in Spain; Raytheon UK (formerly Raytheon Systems Limited); and ThalesRaytheonSystems, France.
Strategic Business Areas
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:
In March 2014, Thomas Kennedy was named CEO of Raytheon Company.[42] Kennedy succeeded William H. Swanson, who was CEO since 2003. Swanson remained as Chairman through September 2014 when Kennedy became chairman as well as CEO.[43] Other current and former members of the board of directors of 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.[44]
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-launched missiles, aircraft radar systems, weapons sights and targeting systems, communication and battle-management systems, and satellite components.
Raytheon is a developer and manufacturer of radars (including AESAs), electro-optical sensors, and other advanced electronics systems for airborne, naval and ground based military applications. Examples include:
Raytheon, often in conjunction with Boeing, Lockheed Martin or Northrop Grumman, is also heavily involved in the satellite sensor business. Much of its Space and Airborne Systems division in El Segundo, CA is devoted to this, a business it inherited from Hughes. Examples of programs include:
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 the Suomi NPP satellite. Future deliveries of VIIRS will fly onboard JPSS to continue the operational space based climate and weather sensing legacy of the MODIS sensors.[46]
Digital Multimedia Watchdog, a tool used by the FBI to record phone calls and Internet communications.[47]
Radioactive materials detection system
As part of the company's growing homeland security business and strategic focus, Raytheon has teamed with other contractors to develop an Advance Spectroscopic Portal (ASP) to allow border officials to view and identify radioactive materials in vehicles and shipping containers more effectively.[48]
Semiconductors
Raytheon also manufactures semiconductors for the electronics industry in sites in the US and UK. In the late 20th century it produced a wide range of integrated circuits and other components, but as of 2003 its US semiconductor business specializes in gallium arsenide (GaAs) components for radio communications as well as infrared detectors. It is also making efforts to develop gallium nitride (GaN) components for next-generation radars and radios. The UK arm specialized in CMOS on silicon carbide (SiC) development and foundry work but is no longer taking on new orders, having been on the premises for 57 years.
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.[50] 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 the Florida Department of Environmental Protection (DEP), the groundwater contained carcinogenic contaminants, including trichloroethylene, 1,4-dioxane, and vinyl chloride.[51] The DEP also reported that the clouds contained other toxins, such as lead and toluene.[50]
In 1995, Raytheon acquired Dallas-based E-Systems, including a site in St. 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.[52] 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.[50] 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.[53]
In another case, Raytheon was ordered by the Environmental 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.[54] The EPA further required the installation and operation of an oxidation process system to treat the solvents and make the water safe to drink.[54]
On 9 August 2006, The Stream Contact Centre in Derry, Northern Ireland, which had a contract with Raytheon at the time, was attacked 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.[55] 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.[56]
The AGM-88 HARM is a tactical, air-to-surface anti-radiation missile designed to home in on electronic transmissions coming from surface-to-air radar systems. It was originally developed by Texas Instruments as a replacement for the AGM-45 Shrike and AGM-78 Standard ARM system. Production was later taken over by Raytheon Corporation when it purchased the defense production business of Texas Instruments.
An aerospace manufacturer is a company or individual involved in the various aspects of designing, building, testing, selling, and maintaining aircraft, aircraft parts, missiles, rockets, or spacecraft. Aerospace is a high technology industry.
Northrop Grumman Corporation is an American multinational aerospace and defense company. With 95,000 employees and an annual revenue in excess of $30 billion, it is one of the world's largest weapons manufacturers and military technology providers. The firm ranked No. 101 on the 2022 Fortune 500 list of America's largest corporations.
Raytheon Missiles & Defense (RMD) was one of four business segments of RTX Corporation. Headquartered in Tucson, Arizona, its president was Wes Kremer. The business produced a broad portfolio of advanced technologies, including air and missile defense systems, precision weapons, radars, and command and control systems. Raytheon Intelligence & Space was merged with Raytheon Missiles & Defense in July 2023 to form the Raytheon business segment.
The Hughes Aircraft Company was a major American aerospace and defense contractor founded on February 14, 1934 by Howard Hughes in Glendale, California, as a division of Hughes Tool Company. The company produced the Hughes H-4 Hercules aircraft, the atmospheric entry probe carried by the Galileo spacecraft, and the AIM-4 Falcon guided missile.
United Technologies Corporation (UTC) was an American multinational conglomerate headquartered in Farmington, Connecticut. It researched, developed, and manufactured products in numerous areas, including aircraft engines, aerospace systems, HVAC, elevators and escalators, fire and security, building automation, and industrial products, among others. UTC was also a large military contractor, getting about 10% of its revenue from the U.S. government. In April 2020, UTC merged with the Raytheon Company to form Raytheon Technologies, later renamed RTX Corporation.
An active electronically scanned array (AESA) is a type of phased array antenna, which is a computer-controlled antenna array in which the beam of radio waves can be electronically steered to point in different directions without moving the antenna. In the AESA, each antenna element is connected to a small solid-state transmit/receive module (TRM) under the control of a computer, which performs the functions of a transmitter and/or receiver for the antenna. This contrasts with a passive electronically scanned array (PESA), in which all the antenna elements are connected to a single transmitter and/or receiver through phase shifters under the control of the computer. AESA's main use is in radar, and these are known as active phased array radar (APAR).
The AN/MPQ-64 Sentinel is an X-band electronically steered pulse-Doppler 3D radar system used to alert and cue Short Range Air Defense (SHORAD) weapons to the locations of hostile targets approaching their front line forces. It is currently produced by Raytheon Missiles & Defense.
Northrop Grumman Electronic Systems (NGES) was a business segment of Northrop Grumman from 1996 to 2015, until a reorganization on January 1 2016 merged other Northrop Grumman businesses into NGES to form a new segment called Mission Systems. NGES had originally been created by Northrop Grumman's acquisition of Westinghouse Electronic Systems Group in 1996. The Electronic Systems sector was a designer, developer, and manufacturer of a wide variety of advanced defense electronics and systems. The division had 120 locations worldwide, including 72 international offices, and approximately 24,000 employees; accounting for 20% of company sales in 2005.
Collins Aerospace is an American technology company that is one of the world's largest suppliers of aerospace and defense products. Headquartered in Charlotte, North Carolina, it is a subsidiary of RTX Corporation.
The AN/APG-63 and AN/APG-70 are a family of all-weather multimode radar systems designed by Hughes Aircraft for the F-15 Eagle air superiority fighter. These X band pulse-Doppler radar systems are designed for both air-air and air-ground missions; they are able to look up at high-flying targets and down at low-flying targets without being confused by ground clutter. The systems can detect and track aircraft and small high-speed targets at distances beyond visual range down to close range, and at altitudes down to treetop level. The radar feeds target information into the aircraft's central computer for effective weapons delivery. For close-in dogfights, the radar automatically acquires enemy aircraft and projects this information onto the cockpit head-up display. The name is assigned from the Army Navy Joint Electronics Type Designation System.
The AN/APG-79 is a type of active electronically scanned array (AESA) radar that was developed for use on the United States Navy's Boeing F/A-18E/F Super Hornet and Boeing EA-18G Growler aircraft. The radar's AESA technology provides quick updates on multiple targets, and its solid-state antenna construction makes it more reliable and cost-effective than traditional radar systems. The radar has a range of up to 150 km and can track multiple targets simultaneously. It is capable of firing weapons such as the AIM-120 AMRAAM's D model and guiding multiple missiles to targets located at varying distances and directions. As of July 2008, 100 APG-79 sets had been delivered to the United States Navy, and the Navy expects to order around 437 production radars. In January 2013, the Director, Operational Test & Evaluation (DOT&E) disclosed some issues with the APG-79 radar during its initial operational testing, but upgrades have been made over time.
Raytheon Intelligence & Space (RIS) was one of the four business segments of U.S. defense and aerospace conglomerate RTX Corporation. Headquartered in Arlington, Virginia, RIS has a total employment of 39,000 and 2019 sales of US$15 billion. Roy Azevedo is the segment's president.
Hughes Electronics Corporation was formed in 1985 when Hughes Aircraft was sold by the Howard Hughes Medical Institute to General Motors for $5.2 billion. Surviving parts of Hughes Electronics are today known as DirecTV Group, while the automotive divisions became Aptiv.
The AN/ASQ-213HARM targeting system (HTS) is a targeting pod mounted to either of the engine inlet hardpoints of an F-16 Fighting Falcon aircraft. It enables the aircraft to track the location of hostile radar systems in any weather, and identify them to allow for usage of the AGM-88 HARM missile or other air-to-ground weapons. It greatly assists in Suppression of Enemy Air Defenses (SEAD) and Destruction of Enemy Air Defenses (DEAD) operations, where surface-to-air missile (SAM) sites are directly attacked or threatened, and therefore suppressed, by aircraft carrying anti-radar missiles and other munitions. While the firing of anti-radar missiles in Harm As Sensor (HAS) mode, an HTS pod greatly reduces the workload of the pilot, increases the precision of the HARM, and allows HARMs to be fired while pointed away from the SAM site being attacked when in Equation of Motion (EOM) mode.
The AN/SPY-6 is an active electronically scanned array 3D radar under development for the United States Navy (USN). It will provide integrated air and missile defense for Flight III Arleigh Burke-class destroyers. Variants are under development for retrofitting Flight IIA Arleigh Burkes and for installation aboard Constellation-class frigates, Gerald R. Ford-class aircraft carriers, America-class amphibious assault ships, and San Antonio-class amphibious transport docks.
The AN/TPY-2 Surveillance Transportable Radar, also called the Forward Based X-Band Transportable (FBX-T) is a long-range, very high-altitude active digital antenna array X band surveillance radar designed to add a tier to existing missile and air defence systems. It has a range of 2,900 mi. Made by Raytheon, it is the primary radar for the Terminal High Altitude Area Defense (THAAD) missile system, but also cues the AN/MPQ-53 radar of the MIM-104 Patriot system. Patriot PAC-3 is a lower-altitude missile and air defense system than THAAD.
Forcepoint is an American multinational corporation software company headquartered in Austin, Texas, that develops computer security software and data protection, cloud access security broker, firewall and cross-domain solutions.
RTX Corporation, formerly Raytheon Technologies Corporation, is an American multinational aerospace and defense conglomerate headquartered in Arlington, Virginia. It is one of the largest aerospace and defense manufacturers in the world by revenue and market capitalization, as well as one of the largest providers of intelligence services. In 2023, the company's seat in Forbes Global 2000 was 79. RTX manufactures aircraft engines, avionics, aerostructures, cybersecurity solutions, guided missiles, air defense systems, satellites, and drones. The company is a large military contractor, getting much of its revenue from the U.S. government.
↑ 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.
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