United Technologies Corporation is an American multinational conglomerate based in Farmington, Connecticut. It merged in April of 2021 to form Raytheon Company. United Technologies is a joint venture company of two industries, namely aerospace and defence. The company is also involved in manufacturing, energy, communications, and security. This conglomerate is well known for the technology they develop and manufacture.
In 2021, United Technologies Corporation became a publicly held non-stock public firm acquired by Raytheon Company. They made the acquisition through an initial public offering (or IPO) on the New York Stock Exchange. In this transaction, United Technologies paid about $7.3 billion for a total of about $14 billion. The purchase gave the Raytheon Company a controlling interest in United Technologies Corporation.
Currently, United Technologies Corporation is involved in numerous businesses through its various divisions. Among these are Aerostar, Appliances, Bio-dyne Systems, Civil & Structural, Covina, Eller Properties, Electric & Electronics Manufacturing, Global Defense Technologies, iRobot, Krones, Paladin, P&G, Raytheon, Synthetichetichesis, Telecommunication, and United Technologies Defense Incorporated. They also offer services to the military like military surveillance equipment, aircraft engines, weapons, GPS tracking, naval and marine applications, software development, and nuclear fuel. They have significant amounts invested in research and development to improve their technologies. They also have contracts with the Department of Defense.
Their businesses deal with air-flight engines, military fighter jets, commercial airliners, and cargo aircraft. They manufacture the following types of engines; turbofan, super hydrostatic fan, variable-piston engines, turboprops, jet engines, and gas turbine engines. They also manufacture components for these engines. This company was founded by merging two aerospace companies; United Technologies and Goodrich. Together they formed a new company, United Technologies Corporation. The founder of this company is a former vice president of Goodrich, which developed the Turboprop engine.
The business units that United Technologies Corporation offers are aeronautical designing, building systems, avionics, software applications, energy management, and electronics manufacturing. It was founded in 1958, and as an aerospace business, it specializes in the production of airframe, missile, and aerospace products. Among its products are boom lifts, fixed-wing and rotary-wing aircraft engines, electronic fuselage, building systems, composite materials, boating parts, electronic control systems, control system components, combustion parts, and software applications. They have manufacturing facilities in Texas, California, Florida, New Mexico, Ohio, Maryland, Nevada, and Utah.
In December of 2021, United Technologies Corporation received financing for its wholly-owned subsidiary, Geico, to be included in their brand name called Geico XLS. It will be offering a complete line of general aviation and transportation equipment, such as auto engines, tires, brakes, seat belts, marine engines, Geico XLS personal cars, Hummingbird, and Cirrus vehicles. This acquisition will also help United Technologies Corporation continue expanding into new areas of expanding into aerospace systems, building systems, and automotive technology.