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This statistic highlights Raytheon Technologies’ Revenue by Segment, split between Product and Service segments, reported on a quarterly basis from Q1 2016 onwards.
|Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Product||$ 11.46||$ 12.18||$ 12.33||76.06%|
|Service||$ 3.28||$ 3.70||$ 3.88||23.94%|
|Total||$ 14.74||$ 15.88||$ 16.21||100%|
(All figures are in billions, except percentages)
Raytheon Technologies’ total revenue by segment increased from $14,74 billion in Q3 2020 to $16.21 billion in Q3 2021, marking approximately 10% growth on a year-on-year basis. It also rose from $15.88 billion in Q2 2021 to $16.21 billion in Q3 2021 i.e., 2.09% growth on a quarter-on-quarter basis.
Raytheon Technologies’ revenue is further bifurcated into Product and Services segments:
RTX investigates, evolves, and produces high-tech products in the aeronautical and defense/ safety industry. It produces aircraft engines, aero-structure, guided missiles, cybersecurity, avionics, satellites, and drones. The company gets a huge portion of its revenue from the Government of the United States as it is a large military dealer to the Govt. The products of this company include Joint Strike missile, Storm Breaker Smart weapon, Pave-way bomb, etc. of the Air Warfare section. The Counter UAS includes products such as Phaser High power missile system. Many products also are part of Counter UAS, Hyper-sonics, Land warfare, Missile defense, and Naval warfare.
The product segment generates the maximum revenue by segment which accounts for 76.06% of the total revenue by all segments as of Q3 2021. The revenue increased from $11.46 billion in Q3 2020 to $12.33 billion in Q3 2021, marking a rise of 7.5% on a year-on-year basis. Further, it also grew from $12.18 billion in Q2 2021 to $12.33 billion in Q3 2021, which accounts for a rise of 1.2% on a quarter-on-quarter basis.
Raytheon Technologies Corporation supports hundred millions of users across the globe. The learning technology services of RTX include evaluation and appointment, execution, consolidation, and management. This public company is advancing significant suggestions to resolve some of the Earth’s substantial problems by bringing out the most brilliant and creative minds across space, defense, and aviation.
The services segment generated 23.94% of the total revenue generated by the two segments altogether as of Q3 2021. The revenue from the service segment increased by $0.6 billion, i.e., by 18.42% on a year-on-year basis. Further, it also increased on a quarter-on-quarter basis from $3.70 billion in Q2 2021 to $3.88 billion in Q3 2021, i.e., by 4.89%.
Raytheon was started in 1922 in Cambridge in the United States of America with headquarters in Waltham in Massachusetts in the United States of America. In the year 2020, United Technologies Corporation was merged with Raytheon Company and hence, the name was changed to Raytheon Technologies Corporation. It is a public company that comes under the Aerospace Defense Information Security Electronics Industry. The company consists of four dominant industry businesses – Pratt and Whitney, Raytheon Missiles and Defense, Collins Aerospace, Raytheon Intelligence, and Space.
It is a global aviation and shielding corporation that provides advanced equipment and services to retail, military, and government customers. It is one of the biggest aerospace, intuitive services contributors in the globe by market and revenue subsidization. It is also a major dealer of defense products to the Government of the United States of America. So, the Government is a major source of revenue generation. The number of employees in the company as of the year 2020 is 1,80,000 and the current CEO is Gregory J. Hayes. It is traded on the New York Stock Exchange under the ticker symbol RTX.
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