United Technologies Corporation

Paper Summary:

This paper provides a brief overview of United Technologies Corporation (UTC), a $28.2 billion global corporation with seven operating companies and United Technologies Research Center. It looks at its history from 1925, when Frederick Rentschler and George Mead founded Pratt & Whitney Aircraft (P&W) to develop aircraft engines. It also examines its share of the current market, its competition, and its prospects of future gains.

From the Paper:

"The terrorist attacks of September 11 and their aftermath have had a profound affect on the aerospace and defense industry, especially for companies that depend upon the commercial aerospace sector. The defense market accounted for about fifty percent of the aerospace and defense industry's sales in 2000, but that number is expected to grow as a result of the commercial aerospace meltdown, the war on terrorism, and the war in Iraq. President Bush's newest defense budget calls for a spending increase of about fifteen percent, and that figure doesn't include the $78 billion War Supplemental Appropriations bill. The benefactors of the increased spending will likely be the large companies that dominate the market such as UTC and Boeing among others."

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