About United Technologies Corporation

United Technologies (UTC) has the worldwide industrial expertise to lift you up and cool you down. Its Otis, UTC Climate Controls & Security, and Pratt & Whitney 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, while Pratt & Whitney makes commercial and military engines. UTC Aerospace Systems produces engine controls and flight systems for military and commercial clients. In a major move to bolster its aerospace operations, UTC in 2017 agreed to purchase aircraft parts manufacturer Rockwell Collins for $23 billion.

Operations

UTC's Climate Controls & Security segment (30% of net sales) makes security products and firefighting equipment for the commercial, governmental, and residential sectors.

Pratt & Whitney (some 25%) makes and sells aircraft engines for the commercial, military, business jet, and general aviation markets. It also provides fleet management services and aftermarket maintenance services.

UTC Aerospace Systems (25%) provides aerospace products and aftermarket services for aircraft manufacturers, airlines, and the general aviation markets. (This division will soon be transformed into Collins Aerospace Systems following UTC's pending acquisition of Rockwell Collins that was announced in late 2017.)

In addition, UTC owns Otis (20%), one of the world’s largest elevator and escalator manufacturing, installation, and servicing companies.

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 about 20% and 15%, respectively.

Sales and Marketing

The company serves customers residing in the commercial and industrial (contributing 50% revenue), commercial aerospace (almost 40%), and military aerospace and space (10%) sectors. The US government contributes roughly 20%.

Financial Performance

UTC's revenues increased 2% from $56.1 billion in 2015 to $57.2 billion in 2016. This growth was attributed to higher commercial aftermarket sales from Pratt & Whitney and increased commercial OEM and aftermarket sales from UTC Aerospace Systems. In addition, UTC experienced higher service sales in the Americas and Asia and increased new equipment sales in North America, partially offset by lower new equipment sales in China from Otis in 2016.

UTC's profits, however, declined 34% from $7.6 billion in 2015 to $5.1 billion in 2016. This was attributed to a 3% rise in selling, general and administrative expenses driven by a pension settlement charge and increased expenses at Otis that reflected higher labor and information technology costs.

Strategy

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. Adhering to this strategy, in late 2017 it announced it was acquiring aircraft parts maker Rockwell Collins for $23 billion.

Mergers and Acquisitions

In the biggest aerospace deal in history, UTC agreed to purchase aircraft parts manufacturer Rockwell Collins for $23 billion in September 2017. When the deal is completed, Rockwell will become a new UTC division named Collins Aerospace Systems. UTC projects the new division will generate more than $23 billion in revenue per year and will make aviation electronics and communication equipment for commercial and military aircraft. UTC is making the deal to boost its aerospace business and position it as a key springboard for growth in the years ahead.

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United Technologies Corporation

10 Farm Springs Rd
Farmington, CT 06032-2577
Phone: 1 (860) 728-7000
Fax: 1 (860) 728-7028

Stats

  • Employer Type: Public
  • Stock Symbol: UTX
  • Stock Exchange: NYSE
  • Chairman, President, and CEO: Gregory J. Hayes
  • Chairman, President, and CEO: Gregory J. Hayes
  • EVP and CFO: Akhil Johri
  • 2016 Employees: 201,600

Major Office Locations

  • Farmington, CT

Other Locations

  • Anchorage, AK
  • Fairbanks, AK
  • Juneau, AK
  • Ketchikan, AK
  • Auburn, AL
  • Hoover, AL
  • Huntsville, AL
  • Mobile, AL
  • Montgomery, AL
  • Pelham, AL
  • Scottsboro, AL
  • Arkadelphia, AR
  • Conway, AR
  • Fayetteville, AR
  • Little Rock, AR
  • North Little Rock, AR
  • Glendale, AZ
  • Nogales, AZ
  • Phoenix, AZ
  • Tucson, AZ
  • Anaheim, CA
  • Bakersfield, CA
  • Beale Afb, CA
  • Brea, CA
  • Burbank, CA
  • Colton, CA
  • Concord, CA
  • Costa Mesa, CA
  • Cypress, CA
  • Downey, CA
  • Fairfield, CA
  • Fremont, CA
  • Fresno, CA
  • Garden Grove, CA
  • Hayward, CA
  • Lodi, CA
  • Los Angeles, CA
  • Monterey, CA
  • Newark, CA
  • North Highlands, CA
  • Oakland, CA
  • Petaluma, CA
  • Pomona, CA
  • Riverside, CA
  • Sacramento, CA
  • San Diego, CA
  • San Francisco, CA
  • San Jose, CA
  • San Leandro, CA
  • Santa Fe Springs, CA
  • Sunnyvale, CA
  • Upland, CA
  • Whittier, CA
  • Aurora, CO
  • Bailey, CO
  • Boulder, CO
  • Centennial, CO
  • Colorado Springs, CO
  • Fort Collins, CO
  • Pueblo, CO
  • Bloomfield, CT
  • Bridgeport, CT
  • Broad Brook, CT
  • Cheshire, CT
  • Cromwell, CT
  • Danbury, CT
  • East Granby, CT
  • East Hartford, CT
  • Essex, CT
  • Middletown, CT
  • Milford, CT
  • Newington, CT
  • Newtown, CT
  • North Haven, CT
  • Shelton, CT
  • South Windsor, CT
  • Windsor Locks, CT
  • Washington, DC
  • Bear, DE
  • New Castle, DE
  • Davie, FL
  • Dunnellon, FL
  • Fort Lauderdale, FL
  • Jacksonville, FL
  • Jupiter, FL
  • Lakeland, FL
  • Lakewood Ranch, FL
  • Miami, FL
  • Miami Gardens, FL
  • Miami Lakes, FL
  • Miami Springs, FL
  • Ocoee, FL
  • Opa Locka, FL
  • Orlando, FL
  • Pensacola, FL
  • Pompano Beach, FL
  • Sarasota, FL
  • Tallahassee, FL
  • Tampa, FL
  • West Palm Beach, FL
  • Acworth, GA
  • Athens, GA
  • Atlanta, GA
  • Augusta, GA
  • College Park, GA
  • Columbus, GA
  • Duluth, GA
  • Kennesaw, GA
  • Macon, GA
  • Marietta, GA
  • Midland, GA
  • Morrow, GA
  • Norcross, GA
  • Savannah, GA
  • Stone Mountain, GA
  • Hilo, HI
  • Honolulu, HI
  • Waipahu, HI
  • Ankeny, IA
  • Cedar Rapids, IA
  • Davenport, IA
  • Des Moines, IA
  • Mason City, IA
  • Sioux City, IA
  • West Des Moines, IA
  • Boise, ID
  • Bridgeview, IL
  • Burr Ridge, IL
  • Carbondale, IL
  • Champaign, IL
  • Chicago, IL
  • Decatur, IL
  • Des Plaines, IL
  • Elmhurst, IL
  • Hillside, IL
  • Lisle, IL
  • Lombard, IL
  • Loves Park, IL
  • O Fallon, IL
  • Peoria, IL
  • Quincy, IL
  • Rockford, IL
  • Rockton, IL
  • Springfield, IL
  • Sugar Grove, IL
  • Westchester, IL
  • Bloomington, IN
  • Crane, IN
  • Evansville, IN
  • Fort Wayne, IN
  • Granger, IN
  • Huntington, IN
  • Indianapolis, IN
  • Jeffersonville, IN
  • Muncie, IN
  • South Bend, IN
  • Terre Haute, IN
  • Bel Aire, KS
  • Hutchinson, KS
  • Kansas City, KS
  • Topeka, KS
  • Wichita, KS
  • Louisville, KY
  • Alexandria, LA
  • Baton Rouge, LA
  • Destrehan, LA
  • Geismar, LA
  • Lake Charles, LA
  • Metairie, LA
  • New Orleans, LA
  • Saint Rose, LA
  • Shreveport, LA
  • Auburn, MA
  • Boston, MA
  • Canton, MA
  • Chicopee, MA
  • Fall River, MA
  • Framingham, MA
  • Holliston, MA
  • Ludlow, MA
  • Monson, MA
  • North Reading, MA
  • Peabody, MA
  • Taunton, MA
  • Westford, MA
  • Baltimore, MD
  • Bethesda, MD
  • Bishopville, MD
  • Columbia, MD
  • Glen Burnie, MD
  • Hanover, MD
  • Lanham, MD
  • Linthicum Heights, MD
  • Savage, MD
  • Hermon, ME
  • North Berwick, ME
  • Westbrook, ME
  • Battle Creek, MI
  • Byron Center, MI
  • Detroit, MI
  • Farmington Hills, MI
  • Grand Rapids, MI
  • Jackson, MI
  • Kalamazoo, MI
  • Lansing, MI
  • Muskegon, MI
  • Saginaw, MI
  • Traverse City, MI
  • Warren, MI
  • West Bloomfield, MI
  • Burnsville, MN
  • Duluth, MN
  • Minneapolis, MN
  • Roseville, MN
  • Saint Cloud, MN
  • Saint Paul, MN
  • Bridgeton, MO
  • Cape Girardeau, MO
  • Clarksdale, MO
  • Columbia, MO
  • Hazelwood, MO
  • Kansas City, MO
  • Saint Louis, MO
  • Springfield, MO
  • Byhalia, MS
  • Byram, MS
  • Jackson, MS
  • Olive Branch, MS
  • Billings, MT
  • Great Falls, MT
  • Helena, MT
  • Asheville, NC
  • Charlotte, NC
  • Concord, NC
  • Fayetteville, NC
  • Goldsboro, NC
  • Greenville, NC
  • Hickory, NC
  • Kernersville, NC
  • Lincolnton, NC
  • Monroe, NC
  • Mooresville, NC
  • Morrisville, NC
  • Raleigh, NC
  • Wilmington, NC
  • Wilson, NC
  • Winston Salem, NC
  • Bismarck, ND
  • Fargo, ND
  • Grand Forks, ND
  • Jamestown, ND
  • Omaha, NE
  • York, NE
  • Concord, NH
  • Manchester, NH
  • Clifton, NJ
  • Fairfield, NJ
  • Jamesburg, NJ
  • Kearny, NJ
  • Moorestown, NJ
  • Totowa, NJ
  • West Caldwell, NJ
  • Albuquerque, NM
  • Las Vegas, NV
  • Reno, NV
  • Albany, NY
  • Buffalo, NY
  • Cheektowaga, NY
  • East Syracuse, NY
  • Endicott, NY
  • Long Island City, NY
  • New York, NY
  • Pittsford, NY
  • Plainview, NY
  • Poughkeepsie, NY
  • Rochester, NY
  • Rome, NY
  • Syracuse, NY
  • Vestal, NY
  • Yonkers, NY
  • Yorkville, NY
  • Akron, OH
  • Brooklyn Heights, OH
  • Canton, OH
  • Cincinnati, OH
  • Cleveland, OH
  • Columbus, OH
  • Dayton, OH
  • Heath, OH
  • Independence, OH
  • Mansfield, OH
  • Toledo, OH
  • Troy, OH
  • West Chester, OH
  • Westerville, OH
  • Broken Arrow, OK
  • Oklahoma City, OK
  • Tulsa, OK
  • Beaverton, OR
  • Bend, OR
  • Hood River, OR
  • Medford, OR
  • Portland, OR
  • Salem, OR
  • Tualatin, OR
  • Allentown, PA
  • Altoona, PA
  • Erie, PA
  • Harrisburg, PA
  • Johnstown, PA
  • Lititz, PA
  • Norristown, PA
  • Pittsburgh, PA
  • Plymouth Meeting, PA
  • Scottdale, PA
  • State College, PA
  • Santa Isabel, PR
  • Lincoln, RI
  • Smithfield, RI
  • Bamberg, SC
  • Columbia, SC
  • Florence, SC
  • Greenville, SC
  • Hodges, SC
  • Honea Path, SC
  • Myrtle Beach, SC
  • North Charleston, SC
  • West Columbia, SC
  • Aberdeen, SD
  • Sioux Falls, SD
  • Chattanooga, TN
  • Collierville, TN
  • Kingsport, TN
  • Lenoir City, TN
  • Memphis, TN
  • Nashville, TN
  • Portland, TN
  • Spring Hill, TN
  • Tullahoma, TN
  • Amarillo, TX
  • Austin, TX
  • Beaumont, TX
  • Carrollton, TX
  • Corinth, TX
  • Corpus Christi, TX
  • Dallas, TX
  • Denton, TX
  • El Paso, TX
  • Fort Worth, TX
  • Galveston, TX
  • Grand Prairie, TX
  • Houston, TX
  • Laredo, TX
  • Lubbock, TX
  • Midland, TX
  • Pasadena, TX
  • San Antonio, TX
  • San Marcos, TX
  • Tyler, TX
  • Vidor, TX
  • Waco, TX
  • Waxahachie, TX
  • Wichita Falls, TX
  • Salt Lake City, UT
  • Arlington, VA
  • Ashburn, VA
  • Bluefield, VA
  • Centreville, VA
  • Charlottesville, VA
  • Glen Allen, VA
  • Hampton, VA
  • Langley Afb, VA
  • Lynchburg, VA
  • Mc Lean, VA
  • Newport News, VA
  • Richmond, VA
  • Roanoke, VA
  • Virginia Beach, VA
  • Burlington, VT
  • South Burlington, VT
  • Vergennes, VT
  • Williston, VT
  • Everett, WA
  • Kirkland, WA
  • Olympia, WA
  • Redmond, WA
  • Spokane, WA
  • Tukwila, WA
  • Yakima, WA
  • Brookfield, WI
  • Eau Claire, WI
  • Fitchburg, WI
  • Green Bay, WI
  • Kaukauna, WI
  • La Crosse, WI
  • Madison, WI
  • Milwaukee, WI
  • Oak Creek, WI
  • Peshtigo, WI
  • Bridgeport, WV
  • Huntington, WV
  • Scott Depot, WV
  • Union, WV
  • Wheeling, WV
  • Graz, Austria
  • Hall In Tirol, Austria
  • Linz, Austria
  • Aartselaar, Belgium
  • Bruxelles, Belgium
  • Machelen (Bt.), Belgium
  • Roeselare, Belgium
  • Wevelgem, Belgium
  • Zele, Belgium
  • Anjou, Canada
  • Burlington, Canada
  • Burnaby, Canada
  • Calgary, Canada
  • Dartmouth, Canada
  • Dryden, Canada
  • Edmonton, Canada
  • Etobicoke, Canada
  • Grande Prairie, Canada
  • Hamilton, Canada
  • Kanata, Canada
  • Kingston, Canada
  • London, Canada
  • Milton, Canada
  • Mississauga, Canada
  • Moncton, Canada
  • Montréal, Canada
  • Niagara Falls, Canada
  • Oakville, Canada
  • Oshawa, Canada
  • Ottawa, Canada
  • Owen Sound, Canada
  • Pointe-Aux-Trembles, Canada
  • Porcupine, Canada
  • Québec, Canada
  • Red Deer, Canada
  • Repentigny, Canada
  • Saint John, Canada
  • Saskatoon, Canada
  • St Catharines, Canada
  • St. John'S, Canada
  • Sudbury, Canada
  • Surrey, Canada
  • Thunder Bay, Canada
  • Toronto, Canada
  • Vancouver, Canada
  • Victoria, Canada
  • Waterloo, Canada
  • Windsor, Canada
  • Winnipeg, Canada
  • Beijing, China
  • Dongguan, China
  • Guangzhou, China
  • Lanzhou, China
  • Nanjing, China
  • Taiyuan, China
  • Bogota, Colombia
  • San Jose, Costa Rica
  • Sabro, Denmark
  • Liverpool, England
  • Oulu, Finland
  • Tampere, Finland
  • Vantaa, Finland
  • Aix En Provence, France
  • Villeneuve D Ascq, France
  • Villeurbanne, France
  • Barleben, Germany
  • Bergkirchen, Germany
  • Frankfurt Am Main, Germany
  • Hamburg, Germany
  • Köln, Germany
  • Lehrte, Germany
  • Mannheim, Germany
  • Merchweiler, Germany
  • Münster, Germany
  • Rosdorf, Germany
  • Schenefeld, Germany
  • Schwieberdingen, Germany
  • Wadersloh, Germany
  • Tegucigalpa, Honduras
  • Ahmedabad, India
  • Bengaluru, India
  • Bhubaneswar, India
  • Chennai, India
  • Daman, India
  • Ghaziabad, India
  • Gurgaon, India
  • Hyderabad, India
  • Jaipur, India
  • Jamshedpur, India
  • Kolkata, India
  • Mumbai, India
  • New Delhi, India
  • Noida, India
  • Pune, India
  • Chuo-Ku, Japan
  • Cancun, Mexico
  • Monterrey, Mexico
  • Puerto Vallarta, Mexico
  • Bulandet, Norway
  • Singapore, Singapore
  • Hägersten, Sweden
  • Hisings Backa, Sweden
  • Karlstad, Sweden
  • Linköping, Sweden
  • Malmö, Sweden
  • Norrköping, Sweden
  • Örebro, Sweden
  • Sundsvall, Sweden
  • Uppsala, Sweden
  • Dietlikon, Switzerland
  • Ennenda, Switzerland
  • Plan-Les-Ouates, Switzerland
  • Pratteln, Switzerland
  • Taipei City, Taiwan
  • Amersfoort, The Netherlands
  • Capelle Aan Den Ijssel, The Netherlands
  • Weert, The Netherlands
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