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Raytheon Company is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation throughout the world spanning more than 90 years, Raytheon provides state-of-the-art 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.
The company is a major American defense contractor and industrial corporation with core manufacturing concentrations in weapons and military and commercial electronics. It was previously involved in corporate and special-mission aircraft until early 2007. Raytheon is the world’s largest producer of guided missiles.
The company was establishedinthe year 1922, was reincorporated in the year 1928 and adopted its present name in the year 1959. The company has 63,000 employees worldwide and annual revenues of approximately US$25 billion. 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, and is the fourth largest defense contractor in the United States by revenue.
Raytheon is composed of five major business divisions:
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 and Thales Raytheon Systems, France. In recent years, Raytheon has expanded into other fields while redefining some of its core business activities. Raytheon has identified four key “Strategic Business Areas” where it is focusing its expertise and resources, including Homeland Security, Missile Defense, Precision Engagement, Intelligence, Surveillance, Reconnaissance (ISR), and Process Improvement.
Product and Services of Raytheon consist of:
One of the successful businesses of Raytheon is the Raytheon Aircraft Holdings, which owns the Raytheon Aircraft Company and related enterprises. Raytheon Aircraft includes Beechcraftaircraft and Hawker corporate jets that can be used for air charter services. Beech is known for its popular King Air series of business turboprops and the piston-powered A36 Bonanza,of which more than 3000 examples have been built. Beech also produces a small jet transport for civil and military use and the 1900 series of regional turboprop airliners. Hawker’s well-regarded jets include the Horizon, 800XP, and Premier I. Raytheon Aircraft aims to shift more of its production to jets in the coming years. It has led the country in switching from aluminum to composite construction. Its Starship, though a commercial flop, was the first all-composite business aircraft certified by the FAA. Based in Wichita, Kansas, Raytheon Aircraft has plants in eleven US states.
Business aircraft manufacturers had one of their best years 1999. In September of the year, Raytheon Aircraft appointed Hansel Tookes II, a former Navy and airline pilot and head of the Pratt & Whitney Engines group, as president and chief operating officer. He was named chairperson and CEO after Wegner retired a year later.