Raytheon Technologies

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The major defense and aerospace manufacturer has expanded its footprint in those industries since it was formed by a 2020 merger of Raytheon Co. and United Technologies. Raytheon has made its name focusing on delivering aircraft engines, satellites, and cybersecurity infrastructure. Its sales improved by 14% last year, mostly driven by its missiles and defense and intelligence and space divisions. The company’s biggest deals this year came from new government contracts, including a $2 billion arrangement with the U.S. Air Force for the development of a new nuclear-capable cruise missile. Raytheon slightly downgraded its initial sales estimate for 2022 in light of global sanctions imposed on Russia, but the company remains optimistic about future demand for its products as the air travel industry reopens and global defense budgets increase.