Raytheon and United Technologies are the latest players to merge in the increasingly consolidated defense industry.
The merger of Raytheon and United Technologies creates one of the world's largest defense companies.
With this in mind, aerospace firms Raytheon Co. and United Technologies Corp. on Sunday joined the ever-growing horde of defense firms that are undertaking mergers or acquisitions to gain heft in an industry that is becoming increasingly consolidated. The two companies have diverse portfolios — Waltham, Mass.-based Raytheon is known for making Patriot missiles, radar systems and sensors for spacecraft and aircraft, while Farmington, Conn.-based United Technologies makes commercial airline components and fighter jet engines.
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