US Aerospace manufacturer Raytheon’s hospitality chalet at the Farnborough Airshow. (Photo by In Pictures Ltd./Corbis via Getty Images)
WASHINGTON: Raytheon Technologies announced today it will be relocating its global headquarters to the Washington, DC-area — a move the defense giant hopes will facilitate even more business with the government and commercial customers.
“The location increases agility in supporting U.S. government and commercial aerospace customers and serves to reinforce partnerships that will progress innovative technologies to advance the industry,” the firm said in a statement, noting the new HQ office will be in Arlington, Va., just outside DC. Raytheon is currently based outside Boston, Mass.
Raytheon’s move comes just a month after Boeing announced that it was moving its corporate 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.”
That means that soon the world headquarters of the five biggest defense primes — which also include Lockheed Martin, General Dynamics and Northrop Grumman — will share the same balmy 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 was projecting around $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 an potential expansion of international business.
“We remain confident in the long-term outlook for our businesses, supported by the return to travel and growing 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 mission-critical needs across aerospace and defense.”
The company, formed by the 2020 merger between Raytheon and United Technologies, is unique among the defense primes for its focus on components and weapons, as opposed to platforms. Its development efforts range from hypersonic tech, to satellites to naval radars, among many others. Recently, the Pentagon awarded a contract to a Raytheon partnership with Lockheed to produce Javelin anti-tank missile systems to backfill US stocks that had been sent to Ukraine.
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