WASHINGTON: Raytheon Technologies today announced the relocation of its global headquarters to the Washington, DC area, a move the defense giant hopes will make doing business with government and commercial customers even easier.
“The location increases agility in supporting U.S. government and commercial aerospace customers and serves to strengthen partnerships that will advance innovative technologies to advance the industry,” the company said in a statement, noting that the new headquarters office will be in Arlington, Va., just outside DC. Raytheon is currently based out of Boston, Mass.
Raytheon’s move comes just a month after Boeing announced it was moving its headquarters from Chicago to Arlington. At the time, Boeing said the move “makes strategic sense for our global headquarters given its proximity to our customers and stakeholders, and its access to world-class engineering and technical talent.”
This means that soon the world headquarters of the five largest defense primes – which also include Lockheed Martin, General Dynamics and Northrup Grumman – will share the same mild DC-area weather.
Raytheon is the second-largest defense contractor, behind Lockheed, according to a 2021 analysis by Bloomberg. In April, the company told investors it forecast about $68 billion in sales for 2022, including defense and commercial aerospace contracts. [PDF]. At the time, Raytheon Technologies Chairman and CEO Greg Hayes also hinted at a potential expansion of international business.
“We remain confident in the long-term prospects for our business, supported by the return of travel and growth in global defense budgets,” he said. “Now more than ever, we are committed to investing in next-generation technologies and serving our customers to meet their critical aerospace and defense needs.”
The company, formed by the 2020 merger between Raytheon and United Technologies, is unique among defense primes for its focus on components and weapons, as opposed to platforms. Its development efforts range from hypersonic technology to satellites to naval radars, among others. Recently, the Pentagon awarded a contract to a Raytheon partnership with Lockheed to produce Javelin anti-tank missile systems to fill US stockpiles that had been sent to Ukraine.