Raytheon Technologies Corp
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Industrials : Aerospace & Defense | Large Cap Blend
Company profile

Raytheon Technologies Corporation is an aerospace and defense company. The Company's operations are classified into four principal business segments: Collins Aerospace (Collins), Pratt & Whitney, Raytheon Intelligence & Space (RIS) and Raytheon Missiles & Defense (RMD). Its Collins segment is a provider of technologically advanced aerospace and defense products and aftermarket service solutions for aircraft manufacturers, airlines, and regional, business and general aviation, as well as for defense and commercial space operations. Pratt & Whitney is engaged in supplying aircraft engines for commercial, military, business jet and general aviation customers. RIS segment is a provider of integrated space, communication and sensor systems, and cyber and software solutions to intelligence, defense, federal and commercial customers. RMD segment is a provider of end-to-end solutions for United States and foreign government customers designed to detect, track and engage threats.

Price
Delayed
$96.73
Day's Change
0.29 (0.30%)
Bid
--
Ask
--
B/A Size
--
Day's High
97.41
Day's Low
96.61
Volume
(Light)

Today's volume of 620,353 shares is on pace to be much lighter than RTX's 10-day average volume of 5,494,023 shares.

620,353

Raytheon Technologies Expands Bengaluru Operations with Opening of Pratt & Whitney India Engineering Center

7:05 am ET January 19, 2023 (PR Newswire) Print

Pratt & Whitney, a Raytheon Technologies (NYSE: RTX) business, today officially opened the doors to its new India Engineering Center* (IEC) in Bengaluru.

https://mma.prnewswire.com/media/1986677/Pratt___Whitney_leaders_inaugurate_India_Engineering_Center.jpg

The facility is co-located with Pratt & Whitney's India Capabilities Center (ICC), which opened in 2022 to provide integrated global supply chain support, and the recently inaugurated Collins Aerospaceengineering and global operations centers. The IEC, which was designed to meet the LEED Platinum certification, further enhances Raytheon Technologies' combined presence in India of over 5,000 employees and facilitates collaboration across the company's businesses.

"The Indian aviation market is growing at a rapid pace and Bengaluru is a hub for that growth," said Geoff Hunt, senior vice president, Engineering, Pratt & Whitney. "The work conducted at the IEC - by some of India's best and brightest minds - will support cutting edge technology that will drive the future of flight."

More than 50 employees are now based in the state-of-the-art facility, with an additional 450 jobs to be filled over the next four years. Work performed at the IEC will encompass elements such as aero and mechanical and control systems for various products in Pratt & Whitney's broad portfolio of large and small commercial engines. It will also extend across the entire product lifecycle from development to field support and sustainment.

"The IEC will fully integrate with our existing global engineering footprint across Canada, Puerto Rico and Poland to advance world-class technology such as the geared turbofan and other sustainable propulsion solutions," said Paul Weedon, vice president, Engine Development, Pratt & Whitney Canada Corp. "The IEC team will be key to improving commercial engine performance, extending time on wing, reducing airline operating costs, and decreasing fuel consumption."

The opening of the IEC further illustrates Raytheon Technologies' long history of investing in India.

With more than 1,500 engines and auxiliary power units in service, Pratt & Whitney has one of the largest footprints for any engine maker in India. Pratt & Whitney's GTF engines power more than 180 A320neos and A321neos and have delivered more than $1 billion in savings to Indian airlines since entry-into-service. Other significant investments in-country include Pratt & Whitney's state-of-the-art India Customer Training Center in Hyderabad and its R&D collaboration with the Indian Institute of Science, Bengaluru.

India is important to the global growth and investment strategy of Raytheon Technologies, and the advanced infrastructure and talent pool will help drive the country's contributions as a global leader in aerospace and defense.

About Pratt & Whitney

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft and helicopter engines, and auxiliary power units. To learn more visit www.prattwhitney.com.To receive press releases and other news directly, please sign up here.

About Raytheon Technologies

Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses -- Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense -- the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Arlington, Virginia.

*Note: The IEC is a part of UTCIPL (United Technologies Corporation Pvt Ltd.)

Pratt & Whitney+1 (860) 565-9600media@prattwhitney.com

https://c212.net/c/img/favicon.png?sn=NE91393&sd=2023-01-19

View original content to download multimedia:https://www.prnewswire.com/news-releases/raytheon-technologies-expands-bengaluru-operations-with-opening-of-pratt--whitney-india-engineering-center-301725792.html

SOURCE Pratt & Whitney

https://rt.newswire.ca/rt.gif?NewsItemId=NE91393&Transmission_Id=202301190705PR_NEWS_USPR_____NE91393&DateId=20230119

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COMTEX_422929126/1005/2023-01-19T07:05:10

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