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Raytheon

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Raytheon Company <tr><td colspan="2" style="text-align:center; padding:16px 0 16px 0;">
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Type Public (NYSE: RTN)
Founded Cambridge, Massachusetts (1922)
Headquarters Waltham, Massachusetts

<tr><th style="text-align:right; padding-right:0.75em;">Key people</th><td>William H. Swanson, Chairman and CEO</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Industry</th><td>Defense</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Products</th><td>Conglomerate</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Revenue</th><td>Image:green up.png$21.9 billion USD (2005) [1]</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Employees</th><td>80,000 (2005)</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Website</th><td>www.raytheon.com</td></tr>

Raytheon Company (NYSE: RTN) is a major United States military contractor based in Waltham, Massachusetts. The company has 80,000 employees worldwide, and annual revenues of approximately US$ 22 billion. More than 90 percent of Raytheon's revenues are obtained from defense contracts, and as of 2005 it is the fifth largest military contractor in the world.<ref>Defense News Top 100. Defense News Research (2005). Retrieved on 2006-04-04. </ref>

Contents

[edit] History

Two former college roommates Laurence K. Marshall and Vannevar Bush, along with scientist Charles G. Smith, founded the American Appliance Company in Cambridge, Massachusetts in 1922. The company's first product was a vacuum tube rectifier, called the Raytheon ("light of the gods") and used for radio-receiver power supplies that plugged into the power grid in place of large batteries. The company changed its name to Raytheon in 1925, and by the 1930s it had grown to become one of the larger vacuum tube manufacturing companies.

In World War II Raytheon manufactured magnetron tubes for use in radar sets, and then complete radar systems. (In 1945 Raytheon's Percy Spencer invented the microwave oven by discovering that the magnetron could also cook food.) In 1948 Raytheon began to manufacture guided missiles. During the post-war years Raytheon also made radio and television transmitters and related equipment for the commercial market in the U.S., and got into the educational publishing business with the acquisition of D.C. Heath. In the 1950s Raytheon got into manufacturing transistors, including the very popular CK722, priced and marketed to hobbyists.

Raytheon acquired Beech Aircraft in 1980; in 1993 the company also purchased British Aerospace's business jet product line. These two entities were merged in 1994 to become Raytheon Aircraft Company.

In the mid-1990's, Raytheon purchased the defense businesses of E-Systems and Texas Instruments. In 1997 Raytheon also acquired the defense business of Hughes Electronics from General Motors, which included a number of product lines previously purchased by Hughes including the former General Dynamics missile business, the defense portion of Delco Electronics, and Magnavox Electronic Systems. These acquisitions/mergers added many important capabilities to Raytheon's portfolio.

[edit] Company structure

[edit] Businesses

Raytheon is currently composed of seven major businesses:

Raytheon’s globally capable businesses are supported by several dedicated international operations including: Raytheon Australia; Raytheon Canada Limited; operation is Japan; Raytheon Microelectronics, Spain: Raytheon System Limited in the UK; and ThalesRaytheonSystems, France.

[edit] Strategic Business Areas

In recent years, Raytheon has expanded into some emerging, highly competitive fields while redefining some of its core business activities. Raytheon has identified four strategic business areas where it is focusing its expertise and resources including:

  • Homeland Security
  • Missile Defense
  • Precision Engagement
  • Intelligence, Surveillance, Reconnaissance

[edit] Corporate governance

William H. Swanson is the Chairman and CEO. Other members of the board of directors of Raytheon are: Barbara Barrett, Vernon Clark, Ferdinand Colloredo-Mansfeld, John Deutch, Thomas Everhart, Frederic Poses, Warren Rudman, Michael Ruettgers, Ronald Skates, William Spivey, and Linda Stuntz.

[edit] Products

[edit] Radars & sensors

Raytheon is a leading developer and manufacturer of radars (including AESAs), electro-optical sensors, and other advanced electronics systems for airborne, naval and ground based military applications. Examples include:

[edit] Satellite Sensors

Raytheon, oftentimes in conjunction with Boeing, Lockheed Martin or Northrop Grumman, is also heavily involved in the satellite sensor business. Much of its Space and Airborne Systems division in El Segundo, CA is devoted to this, a business it inherited from Hughes. Examples of programs include:

Additionally, the El Segundo site is the company center of excellence for the development and production of laser products.

  • Raytheon company’s Navy Multiband Terminal (NMT) is the first advanced, next-generation satellite communications (SATCOM) system to successfully log on to and communicate with the U.S. government's Milstar SATCOM system using low and medium data rate waveforms.

The system provides naval commanders and sailors with greater data capacity, as well as improved protection against enemy intercept and jamming.

[edit] Communications

  • Seen below is Raytheon Company’s Universal Control System (UCS), an unmanned aerial system (UAS) "cockpit" that revolutionizes operator awareness and efficiency, while providing the ability to control multiple unmanned aircraft,and reduce potential accidents.

Image:UCS.jpg

[edit] Radioactive Materials Detection System

As part of the company’s growing homeland security business and strategic focus, Raytheon has teamed with other contractors to develop an Advance Spectroscopic Portal (ASP) to allow border officials to peer into vehicles and containers to identify radioactive materials.<ref>Raytheon targets nuclear smuggling: Firm sees profit in homeland security. BostonGlobe (2006). Retrieved on 2006-11-07. </ref>

[edit] Semiconductors

Raytheon also manufactures semiconductors for the electronics industry. In the late 20th century it produced a wide range of integrated circuits and other components, but as of 2003 its semiconductor business specializes in gallium arsenide (GaAs) components for radio communications. It is also making efforts to develop gallium nitride (GaN) components for next-generation radars and radios.

[edit] Missile Defense Systems

In the framework of Ground-Based Midcourse Defense, Raytheon develops a Ground-Based Interceptor (GBI) which includes a booster missile and a kinetic Exoatmospheric Kill Vehicle (EKV).

[edit] Missiles

Raytheon is a leading developer of missiles and related missile defense systems. Examples include:

[edit] Hi-Tech Simulators

Raytheon also produces and runs the ABACUS (Advanced BAttlefield CompUter Simulation) or Higher Formation Trainer (HFT) for training HQ's from small specialist units up to corps level.

[edit] Business Aircraft

Raytheon Aircraft Company produces several corporate jets under the Beechcraft and Hawker brand names. Raytheon currently manufactures just one military aircraft, the T-6 Texan II.

[edit] News and Significant Events

[edit] September 11, 2001

Four Raytheon employees traveling on company business died in the terrorist attacks on September 11, 2001:

American Airlines Flight 11
  • Peter Gay, 54, VP of Electronic Systems on special assignment at the El Segundo, CA division office.
  • Kenneth Waldie, 46, Senior Quality Control for Electronic Systems.
  • David Kovalcin, 42, Senior Mechanical Engineer for Electronic Systems.
American Airlines Flight 77
  • Stanley Hall, 68, Director of Electronic warfare program management.

[edit] Unwritten Rules

On April 24, 2006 in a statement released by Raytheon, CEO Swanson admitted to plagiarism in claiming authorship for his booklet, "Swanson's Unwritten Rules of Management," after being exposed by The New York Times.<ref>Raytheon Chairman & CEO Comments Regarding 'Unwritten Rules'. Raytheon News Release. Retrieved on 2006-05-02.</ref> On May 2, 2006, Raytheon withdrew distribution of the book.<ref>"Raytheon halts distribution of controversial booklet by CEO", AP/Boston.com, 2006-05-02. Retrieved on 2006-05-02.</ref> The following day, the company's board of directors announced that "In response to this matter, the Board has decided not to raise Mr. Swanson's salary above its 2005 level, and will reduce the amount of restricted stock for which he is eligible in the coming year by 20 percent." <ref>Statement of Board of Directors of Raytheon Company. Raytheon News Release. Retrieved on 2006-05-03.</ref>

[edit] NBC News accuses Army of favoritism

As of September 2006, an NBC News report of the Army's award of an anti-RPG system raised questions about favoritism toward the defense contractor. <ref>MSNBC article. Did the Army favor Raytheon in anti-RPG bid?. Retrieved on 2006-09-07.</ref>

Since its inception, the report has garnered much criticism. Major General Sorenson, deputy army secretary for acquisition, disputed the NBC report in detail. The top Democrat on the Tactical Air and Land Forces Subcommittee, Neil Abercrombie of Hawaii as well as panel chair Curt Weldon of Pennsylvania strongly criticized NBC for what they saw as shoddy reporting. <ref> {{cite web title=U.S. Army defends Raytheon contract amid storm url=http://abcnews.go.com/Politics/wireStory?id=2475542 accessdate=2006-11-21}}</ref> The panel has asked the General Accounting Office to investigate.

[edit] Voluntary stock delisting

On October 27, 2006 Raytheon announced plans to voluntarily delist its common stock from the NYSE Arca Inc. (formerly known as the Pacific Exchange) and the Chicago Stock Exchange. Reasons citied were the administrative and regulatory burdens placed by the listings.<ref>Raytheon to Delist Voluntarily from NYSE Arca, Inc. and the Chicago Stock Exchange. PRNewswire (2006). Retrieved on 2006-10-27. </ref>

[edit] Corporate Stewardship

[edit] Math and science education

Image:MMU.jpg

[edit] Philanthropy

[edit] Workplace Diversity

  • In 2005, Raytheon became the first aerospace and defense giant to add gender identity to its equal employment policy, protecting its transgender and transsexual employees. <ref>Raytheon (2005). [2]. Human Rights Campaign.</ref>
  • On Oct. 26, 2006, Raytheon was recognized by U.S. Secretary of Labor Elaine L. Chao as a recipient of the 2006 New Freedom Initiative (NFI) Award for the company’s commitment to recruit, train, hire and promote individuals with disabilities.

[edit] References

<references/>

[edit] See also

[edit] External links


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