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United Technologies Corporation

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United Technologies Corporation - Semiconductor showcase

Year Founded & Workforce

1934

77,200 Employees

Industry

Semiconductor

Services

MRO ServicesDeicers
U

United Technologies Corporation Employee Contacts

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United Technologies Corporation Overview

Company Headquarters: Farmington, Connecticut, US

Founded: 1934

Workforce: ~77,200

Company Working: United Technologies Corporation (UTC) provides technology products and services to the building systems and aerospace industries. It operates through four business segments, namely, Otis, Carrier (formerly referred to as UTC Climate, Controls, and Security), Pratt and Whitney, and Collins Aerospace Systems (a combination of the segment formerly referred to as UTC Aerospace Systems and Rockwell Collins). The Collins Aerospace Systems segment covers electric power generation, power management, and distribution systems, air data and aircraft sensing systems, engine components, engine control, intelligence, surveillance, and reconnaissance systems, environmental control systems, fire and ice detection and protection systems, propeller systems, engine nacelle systems, aircraft lighting and seating and cargo systems, actuation and landing systems, space products and subsystems, and aftermarket services. Pratt and Whitney, which functions as a subsidiary of United Technologies Corporation, is among the world’s leading suppliers of aircraft engines and Auxiliary Power Unit (APUs) for the commercial, military, business jet, and general aviation markets globally. The company offers engine nacelle systems through its Collins Aerospace systems segment. Furthermore, the company also offers MRO services for nacelle systems and has 8 MRO sites across the globe.

Strategy

United Technologies Corporation focuses on strengthening its business segment across the global market through investment in the efficient supply chain. The company targets leading suppliers and distributors to expand in all diverse categories to represent the company’s product portfolio. Additionally, it invested nearly USD 4 billion with its partnered first tier suppliers to enhance its diversification strategy. Moreover, the company also focuses on the product innovation and development in order to offer highly efficient and sustainable products across residential, commercial, and industrial applications.

Company Snapshot

$59,837M

Revenue

77,200

Employees

1934

Founded

Farmington, Connecticut, US

Headquarters

SWOT Analysis

Strengths

  • Strategically balanced portfolio of products and revenue streams
  • Strong industry recognition
  • Growth in revenue
  • Diversified business segments
  • Highly successful at go-to-market strategies
  • Global customer base
  • Extensive distribution network
  • Strategically balanced product portfolio
  • Diverse business segments
  • Highly successful go-to-market strategies
  • Wide global presence
  • Strong financial growth of the domestic market
  • Strong brand portfolio
  • Increased company-funded spending on research and development by 3.7% from 2017 to 2018
  • Strong aftermarket parts and services segment, with contribution of 46% to net sales in 2018 Large workforce of 240,000 employees as of 2018
  • High research and development capabilities
  • Strong focus on new product development
  • Global presence

Weaknesses

  • Low liquidity position limits the company’s ability while funding any growth prospect arrive in the market
  • Over dependence on the market in the US
  • Declining investments in R&D
  • Dependence on the US market
  • Low liquidity position limits the company’s ability
  • Dependence on the US
  • High debt balance
  • Considerable debt affecting financial growth; nearly 53% total debt to total capitalization as of 2018
  • High dependency on the US market
  • Dependency on the US market
  • High attrition rate

Opportunities

  • Strong outlook for the global aerospace and defense market
  • Demand for military aircraft engines market
  • Strategic collaborations, joint ventures and acquisitions with major players in the market
  • Focus on strategic collaborations and acquisitions
  • Scope for strategic collaborations, joint ventures, and acquisitions of major players in the market
  • Strategic collaborations with, joint ventures with, and acquisitions of major players
  • Scope in investment in product development to enhance market position
  • Collaboration and partnership with the renowned suppliers across emerging economies
  • Expansion of aftermarket parts business in emerging economies such as China and India
  • Increasing demand for next-generation aircraft
  • Growth opportunities in the Asia-Pacific region
  • Focus on strategic collaborations & acquisitions
  • Strategic collaborations and acquisitions

Threats

  • Intense competition
  • Export control regulations
  • Changing technology
  • Strict aviation regulations
  • Increasing raw material prices
  • Strict regulations for approval of new MRO facility
  • Stringent aviation regulations
  • Changes in government regulations
  • Change in the industry standards and policies
  • Volatility in raw material prices
  • Frequent changes in aftermarket parts specifications by the FAA and other organizations
  • Presence of several uncertified suppliers with inconsistent products in the Asian market
  • Increasing component prices

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Key Developments

DateApproachDevelopment
Aug 2018Product LaunchAutomated logic, a part of United Technologies Co., launched the OptiFlex virtual integrator platform. This platform monitors a large amount of data across various building subsystems and devices regardless of their manufacturer.
June 2018Product LaunchCarrier, a part of United Technologies Co., launched TruVu ET touchscreen displays for i-Vu building automation system. It provides an intuitive user interface for facility managers to manage HVAC devices.
April 2019Product LaunchUTC launched a new 868AM and 433-63 smoke/heat detectors use in a residential intrusion system with a compatible receiver. The device has a test button surrounded by a LED and a built-in sounder for alarm indication. The status LED flashes red every 45 seconds to indicate normal status (no alarm).
November 2018Product LaunchUTC launched new series of acoustic glass break sensors, i.e. GS960 Series. It includes GS960-acoustic glass break sensor, EN Grade II, GS960AM- acoustic glass break sensor, AM, EN Grade III, GS960-TR tester/calibration tool GS960 Series, GS960-RB-EOL resistor PCB for GS960 Series.
February 2020ExpansionCollins Aerospace Systems, a business unit of UTC, inaugurated its new MRO facility in Singapore. The inauguration of the new facility enabled the company to offer enhanced services to its customers in Asia-Pacific.
June 2019MergerRaytheon Company and UTC signed an agreement to combine in an all-stock merger of equals to form a combined company named Raytheon Technologies. The deal is expected to close in the first half of 2020. The merger will enable both the companies to strengthen their products and enhance their position in the global aerospace & defense market.

Product Offering

  • UNITED TECHNOLOGIES CORPORATION
    • MRO Services
    • Deicers

Financial Performance

Explore key financial metrics, segmented revenue, balance sheet health, and performance trends.

By Business Segment: Global Revenue rose from USD 57,244 Mn in 2016 to USD 66,501 Mn in 2018.
United Technologies Corporation — By Business Segment
Series (USD Mn)201620172018
Global Revenue57,24459,83766,501

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