Raytheon

Raytheon is a big company that makes important tools for the military and other industries. It started in 1922 and became part of RTX Corporation after merging with United Technologies in 2020. Raytheon is especially known for making guided missiles and other electronic equipment used by armies around the world.

For many years, Raytheon was one of the largest companies that sell weapons and technology to governments. By 2012, it was the fifth-largest defense company globally, and by 2015, it became the third-largest in the United States. In 2018, the company had about 67,000 employees and made around US$ 25.35 billion in sales each year.

Over the years, Raytheon moved its main office several times within Massachusetts, from Cambridge to Newton, then to Waltham, Lexington, and back to Waltham, where it remains today. The company plays a big role in making advanced technology for both military and commercial uses.

History

In 1922, Vannevar Bush, a scientist from the Massachusetts Institute of Technology, along with two other scientists, founded a company called American Appliance Company in Cambridge, Massachusetts. The company started by working on new refrigeration technology but soon shifted focus to electronics. Their first product was a special tube called "Raytheon," used in early radios.

During World War II, Raytheon helped make important radar equipment. After the war, the company created the first microwave oven and expanded into many areas, including making missiles, computers, and aircraft parts. Over the years, Raytheon grew by buying other companies and continuing to develop new technologies for both military and everyday uses.

In 2020, Raytheon merged with United Technologies Corporation to form Raytheon Technologies, which later changed its name to RTX Corporation in 2023.

Finances

In 2017, Raytheon made about $2 billion in profit and had around $25 billion in sales. This was a small increase from the year before. By November 2018, the value of Raytheon's shares was over $51 billion.

Company structure

Raytheon has five main business divisions. These include Integrated Defense Systems in Tewksbury, Massachusetts, Intelligence, Information and Services in Dulles, Virginia, Missile Systems in Tucson, Arizona, Space and Airborne Systems in McKinney, Texas, and Forcepoint in Austin, Texas.

The company also works with international operations in places like Australia, Canada, Japan, Spain, the UK, and France. In recent years, Raytheon has focused on areas such as Homeland Security, Missile Defense, Precision Engagement, Intelligence, Surveillance, and Reconnaissance, and process improvement.

Products and services

See also: Category:Raytheon Company products

Raytheon creates electronics and systems that help with sensing, command and control, and communication. They make many tools for the military and for space work.

Raytheon builds air-, sea-, and land-launched missiles, radar systems for airplanes, and communication systems. They also work on satellite parts and sensors, and they make systems to detect dangerous materials. They develop advanced radars and sensors for different military uses, including airplanes, ships, and ground bases. They also make many types of missiles and missile defense systems used around the world.

Environmental record

In 2008, two lawsuits were filed against a Raytheon plant in St. Petersburg, Florida. The lawsuits claimed that the company allowed harmful substances to enter the groundwater for many years. Tests showed that the groundwater had dangerous chemicals, including trichloroethylene, 1,4-dioxane, and vinyl chloride. Other harmful materials like lead were also found.

Raytheon bought a site in St. Petersburg in 1995. Before that, in 1991, harmful chemicals were already found in the soil and water there. By 2005, the polluted water was moving beyond the site. Raytheon was given a deadline in 2008 to study the groundwater further.

In Arizona, the Environmental Protection Agency (EPA) required Raytheon to clean up groundwater at another plant. The company had used and disposed of metals and other substances there since 1951, which polluted the water.

In 2006, a group of protesters in Northern Ireland damaged a Raytheon office they had a contract with. The activists were later tried but most were found not guilty.

By 2013, Raytheon received an award from the EPA for reducing greenhouse gases as promised.

Criminal and civil settlements

On October 16, 2024, the U.S. Department of Justice announced that a subsidiary of RTX, which includes Raytheon, agreed to pay more than $950 million to settle claims. This followed an investigation started by someone who reported problems inside the company. The claims were about overcharging the U.S. government for contracts from 2009 to 2020, along with other issues involving rules about sharing information and international trade laws. The settlement included $574 million to address these claims, with parts set aside for compensating the government and paying penalties.