Raytheon Company (NYSE: RTN) is a major American defense contractor and industrial corporation with core manufacturing concentrations in defense systems and defense 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.
Established in 1922, the company reincorporated in 1928 and adopted its present name in 1959. The company has around 73,000 employees worldwide and annual revenues of approximately US$20 billion. More than 90 percent of Raytheon's revenues were obtained from defense contracts and, as of 2007, it was the fifth largest defense contractor in the world, and is the fourth largest defense contractor in the United States by revenue.
Raytheon Headquarters was moved from Lexington, Massachusetts to Waltham, Massachusetts on October 27, 2003. The company was previously headquartered in Waltham from 1941 until it opened its then Lexington headquarters in 1961.
Raytheon Company
|
|
| Type |
Public (NYSE: RTN) |
| Founded |
Cambridge, Massachusetts (1922) |
| Headquarters |
Waltham, Massachusetts |
| Key people |
William H. Swanson, Chairman and CEO |
| Industry |
Aerospace and defense |
| Revenue |
 $21.3 billion USD (2007) |
| Employees |
72,000 |
| Website |
www.raytheon.com |
History
An early Raytheon Tube Box
A Raytheon Tomahawk Block IV cruise missile during a U.S. Navy flight test at NAWS China Lake, California (Nov. 10, 2002)
Early years
In 1922, two former engineering college roommates Laurence K. Marshall and Vannevar Bush, along with 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) rectifier that was based on Charles Smith's earlier astronomical research of the star Zeta Puppis. The electron tube was christened with the name Raytheon ("light of/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 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 great 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 previous name, Raytheon Manufacturing Company. In 1933 it diversified by acquiring Acme-Delta Company, a producer of transformers, power equipment, and electronic auto parts. By the 1930s it had already grown to become one of the world's largest vacuum tube manufacturing companies.
During WW II
Early in World War II, physicists in England invented the magnetron, a specialized microwave-generating electron tube that markedly improved the capability of radar to detect enemy planes. American companies were then sought by the U.S. 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 of being awarded the contract, Raytheon had already begun to mass manufacture magnetron tubes for use in radar sets and then complete radar systems. At war's end in 1945 the company was responsible for about 80 percent of all magnetrons manufactured. During the war Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection.
Raytheon's research on the magnetron tube revealed the potential of microwaves to cook food. 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 the WW II
In 1945 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 Raytheon began to manufacture guided missiles. In 1950 its Lark missile became the first such weapon 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, among them the Patriot antimissile missile and the air-to-air Phoenix missile. In 1959 Raytheon acquired Apelco-Applied Electronics, which significantly increased its strength in commercial marine electronics. In the same year, it changed its name to Raytheon Company.
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 began manufacturing transistors, including the CK722, priced and marketed to hobbyists.
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.
The 80s
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 is now operating as Hawker Beechcraft. The product line of Raytheon's aircraft subsidiary included business jets such as the Hawker 800XP and Horizon, the Beechjet 400A, and the Premier I; the popular King Air series of twin turboprops; and single-engine piston aircraft such as the Beech Bonanza. Its special-mission aircraft included the single-turboprop T-6A Texan II, which had been chosen to be the primary training aircraft for the U.S. Air Force and U.S. Navy.
The 90s
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 (1996), 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, 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. On October 12, 1999 Raytheon exited the personal rapid transit (PRT) business as it terminated its PRT 2000 system due to high-cost of development and lack of interest. The PRT 2000 prototype now sits idle at their Marlboro, Massachusetts facility.
Company structure
Businesses
Raytheon is composed of six major business divisions:
- Integrated Defense Systems — based in Tewksbury, Massachusetts; Dan Smith, President
- Intelligence and Information Systems — based in Garland, Texas; Mike Keebaugh, President
- Missile Systems — based in Tucson, Arizona; Taylor W. Lawrence, President
- Network Centric Systems — based in McKinney, Texas; Colin Schottlaender, President
- Raytheon Technical Services Company LLC — based in Reston, Virginia; Rick Yuse, President
- Space and Airborne Systems — based in El Segundo, California; Jon Jones, President
Raytheon’s businesses are supported by several dedicated international operations including: Raytheon Australia (Managing Director, Ron Fisher); Raytheon Canada Limited; operations in Japan; Raytheon Microelectronics in Spain; Raytheon System Limited in the UK; and ThalesRaytheonSystems, France. Most well known for having the dimmest engineers in the business.
Strategic Business Areas
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)
Leadership
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.
International
In addition to its US domestic facilities, Raytheon has offices in countries worldwide, including Australia, Belgium, Brazil, Canada, Chile, China, Czech Republic, Egypt, France, Germany, Greece, India, Italy, Japan, Kuwait, Malaysia, Marshall Islands, Norway, Republic of Korea, Singapore, Saudi Arabia, Spain, Sweden, Taiwan, Thailand, Turkey, United Arab Emirates, and the United Kingdom.
Raytheon Employment
Interviewing at Raytheon
Raytheon interview candidates report phone, 1:1, and panel or group interview formats, along with a skills and background test. 100% of the candidates indicated a "Positive" or "Neutral" interview experience, with an "Easy" (2.2 out of 5) difficulty rating compared to interviews with other employers.
Compensation at Raytheon
As a major US defense contractor, Raytheon employs over 70,000 strong. Regular full-time positions are salaried with bonuses in cash or profit sharing, depending upon the job in the company. Raytheon salary details can be found below for common jobs at Raytheon:
- Raytheon Software Engineer salary - $60,786 (Average, USD)
- Raytheon Systems Engineer salary - $72,280 (Average, USD)
- Raytheon Financial Analyst salary - $46,200 (Average, USD)
- Raytheon Mechanical Engineer salary - $70,049 (Average, USD)
- Raytheon Electrical Engineer salary - $59,741 (Average, USD)
This article uses content from http://www.wikipedia.org
