Raytheon

Raytheon Company, originally known as the American Appliance Company, was founded on July 7, 1922, near the Massachusetts Institute of Technology by Laurence Marshall, Dr. Vannevar Bush, and Dr. Charles G. Smith. Their breakthrough innovation was a tube that transformed the radio into an accessible, affordable device for the home.

In 1925, the Raytheon tube, a gaseous rectifier, was perfected and introduced to the public. It revolutionized the radio industry, making radios affordable and accessible to every household.

By the end of 1926, the Raytheon tube had brought in more than $1 million in sales, establishing Raytheon as a major player in the radio tube market for the next two decades.

In 1940, Raytheon was selected to develop magnetrons, a crucial component of microwave radar systems, marking the company's entry into defense technology.

In 1942, Raytheon started manufacturing the radar for PT boats, a task previously deemed impossible by other manufacturers. By the end of the war, every U.S. PT boat was equipped with Raytheon radar, showcasing its significance in naval warfare.

During World War II, Raytheon played a crucial role in manufacturing magnetron tubes for radar systems, becoming responsible for about 80 percent of all magnetrons produced by war's end. The company also pioneered shipboard radar systems for submarine detection.

Following the war, Raytheon's engineer Percy Spencer accidentally discovered the heating effect of a magnetron, leading to the invention of the world's first microwave oven, named Radarange.

In 1947, Raytheon demonstrated the world's first microwave oven, named 'Radarange,' through an employee contest. This invention revolutionized cooking by utilizing microwave radio signals to cook food.

In 1948, Raytheon started manufacturing guided missiles, expanding its technological capabilities in defense systems.

In 1950, Raytheon's Lark missile achieved a milestone by becoming the first weapon to successfully destroy a target aircraft in flight. This success propelled Raytheon into the development of more advanced guided missile systems.

In 1955, Tappan Stove Company introduced the first domestic microwave oven, which was more compact than previous models.

In 1961, the British electronics company A.C. Cossor merged with Raytheon, forming a new entity named Raytheon Cossor. The Cossor division continues to be part of Raytheon as of 2010.

In 1964, Thomas L. Phillips was appointed as the president of Raytheon, leading the company to aggressively diversify its defense-based product lines through strategic commercial acquisitions.

Raytheon purchased Amana Refrigeration, Inc. in 1965, a company known for manufacturing refrigerators and air conditioners. This acquisition led to the introduction of the first household microwave oven under the Amana brand in 1967.

In 1966, Raytheon diversified its portfolio by entering the educational publishing sector through the acquisition of D.C. Heath and Company. Additionally, the company manufactured the Apollo Guidance Computer, a crucial component used in all NASA Project Apollo missions.

In 1967, Raytheon introduced the first countertop microwave oven for domestic use. Priced at just under $500, this 100-volt microwave oven was smaller and more affordable, making it more accessible to the general public.

In 1976, the SAM-D high-performance aircraft was renamed the 'Patriot' in honor of the U.S bicentennial celebration.

In 1980, Raytheon acquired Beech Aircraft Corporation, a prominent manufacturer of general aviation aircraft established in 1932 by Walter H. Beech.

In 1986, the Patriot Advanced Capability Phase 1 (PAC-1) missile successfully intercepted and destroyed a Lance missile in flight, showcasing its anti-tactical missile capabilities.

During the 1991 Persian Gulf War, Raytheon's Patriot missile system faced a real test in military conflict, demonstrating its effectiveness in combat.

In 1992, Raytheon strengthened its commercial and defense electronics systems capabilities by acquiring California-based AMBER Engineering, known for its expertise in infrared components and focal plane arrays.

In 1993, Raytheon acquired Corporate Jets, Inc. from British Aerospace and renamed the business Raytheon Corporate Jets.

In 1994, Raytheon merged Beech Aircraft with Raytheon Corporate Jets, creating Raytheon Aircraft Company.

Later in 1995, Raytheon acquired E-Systems, a defense and government electronics company specializing in intelligence, reconnaissance, surveillance systems, command and control, and specialized aircraft maintenance.

In 1996, Raytheon acquired the aircraft modification and defense electronics businesses of Chrysler Technologies and merged them into Raytheon E-Systems.

In July 1997, Raytheon expanded its Defense Systems and Electronics business by acquiring complementary businesses and expertise in advanced defense systems, such as precision-guided weapons, anti-radiation and strike missiles, airborne radar, night vision systems, and electronic warfare systems.

In December 1997, Raytheon merged with the defense operations of Hughes Electronics, a prominent supplier of advanced defense electronics systems and services. This $9.5 billion transaction marked the largest in Raytheon's history.

During the September 11 attacks in 2001, Raytheon had an office in the South Tower of the World Trade Center, which was destroyed in the collapse following the impact of United Airlines Flight 175.

In 2003, Raytheon moved its headquarters from Lexington, Massachusetts, to Waltham, Massachusetts, marking a significant shift in its operational base.

In May 2008, Raytheon was given a deadline to investigate groundwater contamination at its site in St. Petersburg, Florida. Despite testing wells since 1996, Raytheon had not delivered a final report on the contamination.

In December 2010, Raytheon agreed to acquire Applied Signal Technology for $490 million.

In March 2014, Thomas Kennedy was appointed as the CEO of Raytheon Company, taking over from William H. Swanson who had been serving as CEO since 2003.

In September 2014, Thomas Kennedy also assumed the role of Chairman at Raytheon Company, succeeding William H. Swanson.

In October 2014, Raytheon secured a contract to build the 3DELRR radar system for the USAF, beating competitors Lockheed Martin and Northrop Grumman.

In May 2015, Raytheon acquired cybersecurity firm Websense, Inc. for $1.9 billion and merged it with RCP to form Raytheon|Websense.

In July 2016, Poland's Defence Minister planned to sign a $5.6 billion deal with Raytheon to upgrade its Patriot missile-defense shield.

The T-6A Texan II was introduced as part of the Joint Primary Aircraft Training System to replace older trainer aircraft in the Navy and Air Force. It aimed to train the next generation of student aviators for advanced military aircraft.

In July 2019, Qatar's Ministry of Defense committed to acquiring Raytheon's NASAM and Patriot missile defense systems.

In April 2020, Raytheon merged with United Technologies Corporation to create Raytheon Technologies, with headquarters in Arlington, Virginia.

Raytheon Company celebrates its 100th anniversary in 2022. The company's legacy of excellence in technology and innovation has shaped air travel, global defense, and space exploration.

In July 2023, Raytheon Technologies rebranded as RTX Corporation and merged Raytheon Intelligence & Space and Raytheon Missiles & Defense to form a new business segment.