United Technologies Corporation (UTC) is a manufacturer of high-technology products in the areas of aircraft engines, helicopters, elevators, escalators, HVAC, fuel cells, fire and security, building systems, and industrial products.
UTC was founded in 1934 as the United Aircraft Corporation. The company started selling to the U.S. Army and Navy during the buildup to the Second World War. UTC continued to work with the government and military throughout the war and was ranked sixth among U.S. corporations for value of wartime contracts.
In 1975 then-CEO Harry Gray changed the company’s name to United Technologies Corporation to reflect the diversification into high tech fields beyond aerospace.
During the 2000s, UTC acquired many businesses in order to diversify. These included Chubbs Security (security), Kidde (fire and security), and Clipper Windpower (wind turbines).
Today UTC operates under the business units Carrier, Clipper Windpower, UTC Aerospace Systems, Otis, Pratt & Whitney, Sikorsky Aircraft, UTC Fire and Security, and United Technologies Research Center.
UTC is a large military contractor and produce missile systems and military helicopters, most notably the UH-60 Black Hawk Helicopter. UTC trades on the NYSE under the symbol UTX, is part of the S&P 500, has 218,300 employees, and had $58.190 billion in revenue in 2011.