United Technologies (UTC) has the worldwide industrial expertise to lift you up and cool you down. Its OtisUTC Climate Controls & Security, Pratt & Whitney, and Sikorsky segments develop technologies, systems, and services for the aerospace, construction, and security industries. Climate Controls & Security makes alarms, monitoring equipment, surveillance and access control systems, and fire and hazard detection products. Otis is the world's largest elevator and escalator manufacturing company. Pratt & Whitney makes commercial and military engines, while Sikorsky makes helicopters. UTC Aerospace Systems produces engine controls and flight systems for military and commercial clients.

Geographic Reach

UTC operates through 4,000 locations in more than 70 countries. The US generates around 55% of its total sales; Europe and the Asia/Pacific follow, contributing 20% and 15%, respectively.


After a wave of massive acquisitions and divestitures in 2012 and 2013, UTC has realigned under five well-diversified business segments. UTC's core Climate Controls & Security segment makes security products and firefighting equipment for commercial, governmental, and residential applications. This segment represented nearly 25% of UTC's total sales for 2013.

The other remaining segments include Pratt & Whitney (23% of sales), Otis (20%), UTC Aerospace Systems (21%), and Sikorsky (10%).

Financial Performance

UTC achieved historic growth in 2013, with revenues peaking at $62.6 billion, a company milestone. Profits also surged 12% from $5.1 billion in 2012 to a record-setting $5.7 billion in 2013 due to the higher revenue coupled with gains it made on a legal settlement and on the selling of real estate.

The historic growth for 2013 was fueled by increases in UTC Aerospace Systems (4%) and Otis (3%), along with organic growth at Pratt & Whitney (2%) and UTC Climate, Controls & Security (1%). The organic sales growth at UTC Aerospace Systems was primarily attributable to higher commercial aerospace OEM and aftermarket volume, while organic sales growth at Otis was primarily a result of higher new equipment sales in China, the US, and Russia.

Mergers and Acquisitions

The company has entered into a new stage with the milestone 2012 acquisitions of  Goodrich and  Rolls-Royce's share in the International Aero Engines (IAE) joint venture. The $16.5 billion acquisition of Goodrich, an aircraft components manufacturer, was one of UTC's largest in recent years. Through the transaction, UTC absorbed $1.9 billion in assumed debt, but it also sizably boosted its services to the commercial aerospace/defense industry and increased its revenues. Goodrich was combined with the former Hamilton Sundstrand operations and now form its UTC Aerospace Systems segment. 

Through the purchase of Rolls Royce' stake, UTC's Pratt & Whitney raised its stake in IAE to 61%. The company has supplied more than 5,000 V2500 engines and has about 2,000 more on order for the Airbus A320 aircraft.


UTC strives to maintain a balance between its private and military sectors, its commercial and aerospace operations, and its original equipment (OE) and aftermarket products and services. It also juggles fluctuations in the market that may impact one or more of its businesses. These fluctuations include changing fuel costs and contracts from the US Department of Defense (DoD), which are subject to policies set by the White House and Congress.

This strategy of product balance is combined with geographic balance, which has the company investing in emerging markets that show great growth potential, such as Argentina, Brazil, China, Mexico, the Middle East, Russia, and South Africa. UTC is champing at the bit to acquire aerospace and commercial companies with operations in India, looking to achieve $2.5 billion in revenues from the country by 2015.

In a flurry of activity, UTC has sold assets to help fund acquisitions. It sold the former Goodrich electric power systems business to SAFRAN for $400 million in a divestiture that was a condition of UTC's 2012 acquisition of Goodrich. Pratt & Whitney's Rocketdyne operations were sold to jet engine maker GenCorp for $550 million in mid-2013. Three former Hamilton Sundstrand businesses, Milton Roy, Sullair, and Sundyne, were also sold to private equity firms BC Partners and The Carlyle Group for $3.46 billion.

As it focuses on its core aerospace and building systems operations, UTC in early 2013 sold its UTC Power unit to Oregon-based ClearEdge Power.

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1 Financial Plz
Hartford, CT 06103-2607
Phone: 1 (860) 728-7000
Fax: 1 (860) 728-7028


  • Employer Type: Public
  • Stock Symbol: UTX/PA, UTX
  • Stock Exchange: NYSE, NYSE
  • President, CEO, and Director: Gregory J. Hayes
  • SVP and CFO: Akhil Johri
  • Chairman: Edward A. Kangas

Major Office Locations

  • Hartford, CT

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