The story
Founded by Vannevar Bush on Jul 7, 1922, in Cambridge.1
Early years
In 1922, Vannevar Bush, scientist and professor in the Department of Electrical Engineering at the Massachusetts Institute of Technology (MIT), along with engineer and physicist Laurence K. Marshall, and scientist Charles G. Smith, founded the American Appliance Company in Cambridge, Massachusetts. Its focus, which was originally on new refrigeration technology, soon shifted to electronics. The company's first product was a gaseous (helium) voltage-regulator tube that was based on Charles Smith's earlier astronomical research of the star Zeta Puppis. The electron tube was named Raytheon (a compound of Old French and Greek meaning 'light from the gods') and was used in a battery eliminator, a type of radio-receiver power supply that plugged into the power grid in place of large batteries. This made it possible to convert household alternating current to a regulated, high voltage direct current for radios and thus eliminate the need for expensive, short-lived batteries.
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. By the 1930s, it had already grown to become one of the world's largest vacuum tube manufacturing companies. In 1933 it diversified by acquiring Acme-Delta Company, a producer of transformers, power equipment, and electronic auto parts.
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 months, 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. 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.
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.
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." Also in 1953, the company began work on a follow-on, the RAYCOM, which was never completed. 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. In the same year, it changed its name to Raytheon Company.
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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 1966, the company entered the educational publishing business with the acquisition of D.C. Heath and Company, marketing an influential physics textbook developed by the Physical Science Study Committee. Raytheon also manufactured the Apollo Guidance Computer, which was introduced that year and flew aboard all NASA Project Apollo missions.
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.
1990s
In 1991, during the Persian Gulf War, Raytheon's Patriot missile received great international exposure, resulting in a substantial increase in sales for the company outside the United States. In an effort to establish leadership in the defense electronics business, Raytheon purchased in quick succession Dallas-based E-Systems (1995); Chrysler Corporation's defense electronics and aircraft-modification businesses, which had previously acquired companies such as Electrospace systems (1996) (portions of these businesses were later sold to L-3 Communications), and the defense unit of Texas Instruments, Defense Systems & Electronics Group (1997). Also in 1997, Raytheon acquired the aerospace and defense business of Hughes Aircraft Company from Hughes Electronics Corporation, a subsidiary of General Motors, which included a number of product lines previously purchased by Hughes Electronics, including the former General Dynamics missile business (Pomona facility), the defense portion of Delco Electronics (Delco Systems Operations), and Magnavox Electronic Systems.
Raytheon also divested itself of several nondefense businesses in the 1990s, including Amana Refrigeration, Raytheon Commercial Laundry (purchased by Bain Capital's Alliance Laundry Systems), and Seismograph Service Ltd (sold to Schlumberger-Geco-Prakla). On October 12, 1999, Raytheon exited the personal rapid transit (PRT) business as it terminated its PRT 2000 system due to the high cost of development and the lack of interest.
2000s
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 destroyed in the subsequent collapse of the South Tower.
In November 2007, Raytheon purchased Sarcos for an undisclosed sum, seeking to expand into robotics research and production.
In September 2009, Raytheon purchased Bolt Beranek and Newman Inc. as a wholly owned subsidiary.
2010s
In December 2010, Applied Signal Technology agreed to be acquired by Raytheon for $490 million.
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.
The contract award was immediately protested by Raytheon's competitors, Lockheed Martin and Northrop Grumman. After re-evaluating the bids following the protests, 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. In 2017 the USAF again awarded the contract to Raytheon.
In May 2015, Raytheon acquired cybersecurity firm Websense, Inc. from Vista Equity Partners for $1.9 billion and combined it with RCP, formerly part of its IIS segment to form Raytheon|Websense. In October 2015, Raytheon|Websense acquired Foreground Security for $62 million. In January 2016, Raytheon|Websense acquired the firewall provider Stonesoft from Intel Security for an undisclosed amount and renamed itself to Forcepoint.
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.
In 2017, Saudi Arabia signed business deals worth billions of dollars with multiple American companies, including Raytheon.
In July 2019, Qatar's Ministry of Defense committed to acquire Raytheon's NASAM and Patriot missile defense systems. The company would later be fined for paying bribes to a Qatari officials to influence defense purchases.
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.
In April 2020, the company merged with United Technologies Corporation to form Raytheon Technologies. The merged company is headquartered in Arlington, Virginia rather than UTC's base in Farmington, Connecticut.
Raytheon was sanctioned by the Chinese government in October 2020, and February 2023 due to arm sales to Taiwan.
In July 2023, Raytheon Technologies renamed themselves to RTX Corporation and merged the Raytheon Intelligence & Space and Raytheon Missiles & Defense business segments to form a new Raytheon business segment.
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." 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.
From Wikipedia’s article on Raytheon, shared under CC BY-SA 4.0.7