Raytheon Technologies Corporation (RTX): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde à enjeux élevés de la défense et de l'aérospatiale, Raytheon Technologies Corporation (RTX) est une puissance technologique, transformant des défis d'ingénierie complexes en solutions révolutionnaires qui façonnent la sécurité mondiale. Cette toile de modèle commercial complexe révèle comment RTX navigue stratégiquement des contrats gouvernementaux, l'innovation technologique de pointe et les sources de revenus multiformes, se positionnant comme un acteur critique de la défense nationale, de l'ingénierie aérospatiale et des solutions technologiques avancées qui s'étendent bien au-delà des limites traditionnelles de l'industrie.

Raytheon Technologies Corporation (RTX) - Modèle d'entreprise: partenariats clés

Département de la Défense des États-Unis

Raytheon Technologies détient 16,4 milliards de dollars de contrats de défense en 2023. Valeur du contrat avec le ministère américain de la Défense pour 2024 Exercice estimé à 14,2 milliards de dollars.

Type de contrat	Valeur annuelle
Systèmes de défense antimissile	5,6 milliards de dollars
Composants d'avions militaires	4,3 milliards de dollars
Technologies radar	3,2 milliards de dollars

NASA et autres agences spatiales

Le portefeuille de contrats de la NASA évalué à 2,1 milliards de dollars pour le développement de la technologie spatiale en 2024.

• Contrats de support de la station spatiale internationale: 780 millions de dollars
• Développement de la technologie satellite: 650 millions de dollars
• Systèmes d'exploration de l'espace profond: 670 millions de dollars

Principaux entrepreneurs aérospatiaux et de défense

Partenaire	Valeur de collaboration
Boeing	3,5 milliards de dollars
Lockheed Martin	2,8 milliards de dollars
Northrop Grumman	1,9 milliard de dollars

Entreprises de technologie et d'ingénierie mondiales

Investissements mondiaux de partenariat technologique totalisant 1,6 milliard de dollars en 2024.

• Collaboration IBM: 450 millions de dollars
• Intégration de la technologie Microsoft: 380 millions de dollars
• Siemens Engineering Partnerships: 770 millions de dollars

Établissements de recherche universitaire

Partenariats de recherche et développement avec des établissements universitaires d'une valeur de 620 millions de dollars pour 2024.

Institution	Investissement en recherche
Mit	180 millions de dollars
Université de Stanford	220 millions de dollars
Georgia Tech	220 millions de dollars

Raytheon Technologies Corporation (RTX) - Modèle d'entreprise: activités clés

Développement de la technologie aérospatiale et de défense

Investissement annuel de R&D: 5,4 milliards de dollars en 2022

Catégorie de technologie	Montant d'investissement	Domaines d'intervention primaire
Technologies aérospatiales avancées	2,1 milliards de dollars	Systèmes d'avions de nouvelle génération
Technologie de défense	1,8 milliard de dollars	Défense antimissile, systèmes radar
Solutions de cybersécurité	650 millions de dollars	Détection de menace intelligente

Fabrication de moteurs militaires et commerciaux

Volume total de production du moteur: 14 500 moteurs commerciaux et militaires en 2022

• Production commerciale de moteur aérospatial: 9 200 unités
• Production du moteur des avions militaires: 5 300 unités

Production avancée de systèmes de missiles et d'armes

Catégorie de système d'armes	Volume de production annuel	Revenus générés
Missiles guidés de précision	3 750 unités	2,3 milliards de dollars
Systèmes de défense aérienne	1 200 unités	1,7 milliard de dollars

Solutions de cybersécurité et d'intelligence

Revenus du segment du marché de la cybersécurité: 1,2 milliard de dollars en 2022

• Contrats de cybersécurité du gouvernement: 750 millions de dollars
• Solutions commerciales de cybersécurité: 450 millions de dollars

Recherche et innovation de l'aérospatiale et de la défense

Total des brevets déposés en 2022: 1 385 brevets de nouvelles technologies

Catégorie d'innovation	Nombre de brevets	Focus de recherche
Technologies de propulsion	412	Efficacité énergétique, propulsion électrique
Matériaux avancés	276	Composites légers, gestion thermique
Intelligence artificielle	197	Systèmes autonomes, apprentissage automatique

Raytheon Technologies Corporation (RTX) - Modèle d'entreprise: Ressources clés

Talent et expertise en génie avancé

En 2024, Raytheon Technologies Corporation emploie environ 182 000 professionnels dans le monde. La composition de la main-d'œuvre comprend:

Catégorie des employés	Nombre d'employés
Ingénieurs	62,500
Chercheur	15,300
Spécialistes techniques	38,700

Installations approfondies de recherche et développement

RTX maintient plusieurs centres de R&D à travers les États-Unis avec des investissements importants:

• Investissement total de R&D en 2023: 6,2 milliards de dollars
• Nombre d'installations de R&D: 22 centres de recherche majeurs
• Emplacements de R&D primaires: Massachusetts, Arizona, Floride, Californie

Brevets technologiques propriétaires

Catégorie de brevet	Total des brevets
Brevets aérospatiaux	3,742
Brevets technologiques de défense	2,589
Brevets de systèmes de missiles	1,456

Infrastructure de fabrication et de production

RTX exploite plusieurs installations de fabrication dans le monde:

• Installations de fabrication totale: 56
• Sites de fabrication intérieurs: 37
• Sites de fabrication internationaux: 19

Portfolio de propriété intellectuelle robuste

Type d'actif IP	Valeur totale
Marques enregistrées	287
Brevets actifs	8,921
Secrets commerciaux	Confidentiel

Raytheon Technologies Corporation (RTX) - Modèle d'entreprise: propositions de valeur

Défense avancée et technologies aérospatiales

Raytheon Technologies Corporation génère 67,74 milliards de dollars de revenus annuels à partir de 2023. La société offre aux technologies de défense avancées avec une présence importante sur le marché:

Segment technologique	Revenus annuels	Part de marché
Systèmes de défense	16,2 milliards de dollars	12.4%
Systèmes de défense antimissile	8,5 milliards de dollars	18.7%

Moteurs de hautes performances militaires et commerciaux

Pratt & Whitney Division fournit des solutions spécialisées du moteur d'avion:

• Production de moteurs militaires: 1 200 moteurs par an
• Part de marché des moteurs commerciaux: 33% dans le monde entier
• Revenus annuels du moteur commercial: 22,3 milliards de dollars

Solutions de cybersécurité et d'intelligence de pointe

Segment de cybersécurité	Investissement annuel	Valeur du contrat
Contrats de cybersécurité du gouvernement	4,6 milliards de dollars	12,8 milliards de dollars

Solutions technologiques innovantes pour la sécurité nationale

RTX investit 5,2 milliards de dollars par an en recherche et développement, en se concentrant sur des solutions technologiques avancées.

Systèmes de défense fiables et sophistiqués

• Valeur marchande des systèmes de défense des missiles: 14,3 milliards de dollars
• Revenus de technologie radar: 6,7 milliards de dollars
• Portfolio de contrats de systèmes de renseignement: 9,2 milliards de dollars

Raytheon Technologies Corporation (RTX) - Modèle d'entreprise: relations clients

Contrats gouvernementaux et militaires à long terme

Depuis 2024, Raytheon Technologies détient 67,3 milliards de dollars de commandes de contrat total avec le ministère américain de la Défense. La société maintient des contrats actifs avec:

• U.S.Air Force: 23,5 milliards de dollars de contrats de défense actifs
• Navy américaine: 15,2 milliards de dollars de contrats de systèmes de défense maritime
• Armée américaine: 12,8 milliards de dollars en accords de technologie de défense au sol

Type de contrat	Valeur du contrat	Durée
Systèmes de défense	41,7 milliards de dollars	5-10 ans
Défense antimissile	19,6 milliards de dollars	7-12 ans

Services de support technique et de maintenance

Raytheon fournit un support technique complet sur plusieurs secteurs, générant 8,2 milliards de dollars de revenus annuels de maintenance et de soutien.

Catégorie de service	Revenus annuels	Emplacements de service
Entretien des équipements militaires	4,5 milliards de dollars	Bases militaires mondiales
Aide à l'aviation commerciale	3,7 milliards de dollars	Aéroports internationaux

Partenariats de recherche et développement collaboratif

Raytheon investit 4,6 milliards de dollars par an dans des partenariats de R&D collaboratifs avec:

• MIT: 750 millions de dollars de développement technologique conjoint
• Université de Stanford: 520 millions de dollars de recherche en aérospatiale
• Georgia Tech: 380 millions de dollars collaboration sur la technologie de défense

Solutions technologiques personnalisées

La société génère 22,3 milliards de dollars à partir de solutions technologiques personnalisées dans les secteurs de la défense, de l'aérospatiale et commerciaux.

Secteur	Revenus de solution personnalisés	Marchés clés
Défense	12,7 milliards de dollars	Pays américains et OTAN
Aérospatial	6,9 milliards de dollars	Compagnies aériennes commerciales
Technologie commerciale	2,7 milliards de dollars	Clients d'entreprise mondiaux

Conseil stratégique et support d'ingénierie

Raytheon fournit des services de conseil stratégique d'une valeur de 3,9 milliards de dollars par an, en se concentrant sur l'intégration technologique avancée et l'optimisation du système.

Catégorie de conseil	Revenus annuels	Clients principaux
Stratégie de défense	2,1 milliards de dollars	Agences gouvernementales
Intégration technologique	1,8 milliard de dollars	Sociétés mondiales

Raytheon Technologies Corporation (RTX) - Modèle d'entreprise: canaux

Équipes de vente directes

Raytheon Technologies emploie environ 182 000 professionnels des ventes et du développement commercial de ses opérations mondiales. La force de vente directe de la société couvre plusieurs secteurs, notamment les marchés de la défense, de l'aérospatiale commerciale et du renseignement.

Canal de vente	Les revenus annuels générés	Marchés clés
Ventes directes de défense	25,4 milliards de dollars	Département américain de la défense
Ventes aérospatiales commerciales	16,7 milliards de dollars	Airlines commerciales mondiales
Ventes du marché de l'intelligence	8,3 milliards de dollars	Agences de renseignement du gouvernement

Processus d'approvisionnement du gouvernement

Raytheon Technologies maintient des contrats actifs avec de multiples entités gouvernementales, avec 68% du total des revenus provenant des canaux d'approvisionnement du gouvernement.

• Channel d'approvisionnement primaire du ministère américain de la Défense
• Aachat de la technologie de la NASA
• Réseaux d'approvisionnement de la communauté du renseignement
• Systèmes d'approvisionnement de la défense du gouvernement international

Salons de la défense et aérospatiale

Raytheon Technologies participe à environ 37 salons de la défense internationale et aérospatiale majeurs chaque année, générant environ 2,5 milliards de dollars de possibilités de contrat potentielles.

Salon	Emplacement	Valeur de contrat potentiel
Spectacle aérien de Paris	France	450 millions de dollars
Dubaï Air Airchow	Émirats arabes unis	350 millions de dollars
Dsei London	Royaume-Uni	275 millions de dollars

Plateformes de documentation technique en ligne

Raytheon Technologies maintient des plateformes numériques complètes desservant plus de 12 000 professionnels techniques et spécialistes des marchés publics dans le monde.

Réseaux de développement commercial stratégique

La société tire parti de 247 réseaux de partenariat stratégiques dans 35 pays, générant des sources de revenus collaboratives supérieures à 18,6 milliards de dollars par an.

Type de partenariat	Nombre de partenaires	Revenus collaboratifs annuels
Partenariats de l'industrie de la défense	87	9,2 milliards de dollars
Partenariats de fabrication aérospatiale	112	6,4 milliards de dollars
Collaborations de recherche technologique	48	3 milliards de dollars

Raytheon Technologies Corporation (RTX) - Modèle d'entreprise: segments de clientèle

Département de la Défense des États-Unis

En 2024, Raytheon Technologies détient 16,4 milliards de dollars de contrats de défense actifs avec le ministère américain de la Défense.

Type de contrat	Valeur annuelle
Systèmes de défense antimissile	5,2 milliards de dollars
Radar	4,7 milliards de dollars
Solutions de cybersécurité	3,9 milliards de dollars

Organisations militaires et de défense internationales

RTX dessert 42 pays avec des solutions technologiques de défense.

• Pays de l'OTAN: 28 contrats de défense actifs
• Région du Moyen-Orient: 3,6 milliards de dollars de ventes de technologies de défense annuelles
• Marché de la défense en Asie-Pacifique: 2,8 milliards de dollars de revenus annuels

Sociétés d'aviation commerciale

Client aérien	Contrats annuels du moteur / technologie
United Airlines	1,2 milliard de dollars
Compagnies aériennes américaines	1,5 milliard de dollars
Lignes aériennes delta	1,3 milliard de dollars

Corporations aérospatiales et technologiques

RTX collabore avec 87 sociétés aérospatiales et technologiques dans le monde.

• Boeing: 2,4 milliards de dollars en partenariats technologiques annuels
• Lockheed Martin: 1,9 milliard de dollars de contrats de développement conjoints
• Northrop Grumman: 1,6 milliard de dollars de projets collaboratifs

Agences de renseignement du gouvernement

RTX fournit des solutions technologiques avancées à plusieurs agences de renseignement.

Agence de renseignement	Valeur du contrat annuel
CIA	1,1 milliard de dollars
NSA	980 millions de dollars
Dia	750 millions de dollars

Raytheon Technologies Corporation (RTX) - Modèle d'entreprise: Structure des coûts

Investissements approfondis de recherche et développement

Au cours de l'exercice 2023, Raytheon Technologies Corporation a investi 5,74 milliards de dollars dans les frais de recherche et développement. La société a alloué des ressources financières importantes dans ses quatre principaux segments d'activité: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Espace et missiles Raytheon & Défense.

Segment d'entreprise	Investissement en R&D (2023)
Collins Aerospace Systems	1,42 milliard de dollars
Pratt & Whitney	1,86 milliard de dollars
Intelligence de Raytheon & Espace	1,24 milliard de dollars
Missiles Raytheon & Défense	1,22 milliard de dollars

Dépenses de fabrication de haute technologie

Les coûts de fabrication pour Raytheon Technologies en 2023 ont totalisé environ 37,8 milliards de dollars, ce qui représente 62% du chiffre d'affaires total de 67,74 milliards de dollars de la société.

• Installations de fabrication de précision avancées
• Production spécialisée d'équipements aérospatiaux et de défense
• Gestion complexe de la chaîne d'approvisionnement
• Processus de fabrication technologique de pointe

Recrutement de talents d'ingénierie complexe

L'entreprise a employé 182 000 travailleurs en 2023, avec une compensation annuelle moyenne de 115 000 $ pour l'ingénierie et le personnel technique. Les dépenses totales du personnel ont atteint 20,6 milliards de dollars.

Catégorie de personnel	Nombre d'employés	Compensation moyenne
Professionnels de l'ingénierie	42,500	$155,000
Spécialistes techniques	39,800	$135,000
Autres employés techniques	99,700	$95,000

Maintenance avancée des infrastructures technologiques

Les coûts d'infrastructure et de maintenance des technologies pour Raytheon Technologies se sont élevés à 3,2 milliards de dollars en 2023, couvrant des systèmes technologiques complexes, une infrastructure de cybersécurité et des ressources informatiques avancées.

Coûts de conformité et de certification réglementaires

Les frais de conformité et de certification pour 2023 ont été estimés à 876 millions de dollars, couvrant les exigences aérospatiales, défense et gouvernementales dans plusieurs juridictions internationales.

Catégorie de conformité	Coûts estimés
Certifications aérospatiales	312 millions de dollars
Conformité réglementaire de la défense	404 millions de dollars
Exigences réglementaires internationales	160 millions de dollars

Raytheon Technologies Corporation (RTX) - Modèle d'entreprise: Strots de revenus

Contrats de systèmes d'équipement et d'armes militaires

Pour l'exercice 2023, Raytheon Technologies a rapporté 16,4 milliards de dollars dans les revenus des contrats liés à la défense. Les contrats clés comprennent:

Type de contrat	Valeur	Client
Systèmes de défense antimissile	4,2 milliards de dollars	Département américain de la défense
Radar	3,7 milliards de dollars	Branches militaires américaines
Armes de précision	2,9 milliards de dollars	Agences de défense internationales

Ventes et location du moteur d'avion

En 2023, les revenus du moteur d'avion ont totalisé 22,5 milliards de dollars. La panne comprend:

• Moteurs d'aéronefs commerciaux: 15,3 milliards de dollars
• Moteurs d'avions militaires: 6,2 milliards de dollars
• Location et services de moteur: 1,0 milliard de dollars

Services de cybersécurité et de technologie

Segment de cybersécurité généré 3,6 milliards de dollars en 2023, avec la distribution suivante:

Catégorie de service	Revenu
Solutions gouvernementales de cybersécurité	2,1 milliards de dollars
Services commerciaux de cybersécurité	1,5 milliard de dollars

Conseil des technologies de défense

Les revenus de consultation de la défense sont atteints 2,8 milliards de dollars en 2023, segmenté comme:

• Conseil de défense stratégique: 1,4 milliard de dollars
• Services de conseil technique: 0,9 milliard de dollars
• Services de soutien aux renseignements: 0,5 milliard de dollars

Licence de technologie aérospatiale et de défense

Licence de technologie générée 1,2 milliard de dollars en 2023, avec des domaines clés, notamment:

Domaine de licence	Revenu
Technologies aérospatiales	0,7 milliard de dollars
Transferts de technologie de défense	0,5 milliard de dollars

Raytheon Technologies Corporation (RTX) - Canvas Business Model: Value Propositions

You're looking at the core offerings that keep Raytheon Technologies Corporation (RTX) at the top of the aerospace and defense world as of late 2025. The value propositions are concrete, backed by massive order books and recent contract wins.

Integrated air and missile defense systems (e.g., Patriot, NASAMS) represent a critical, high-demand area. The sheer scale of commitment here is evident in the long-term support structures secured this year. For instance, Raytheon secured a monumental $50 billion terms and conditions umbrella contract from the Defense Logistics Agency in August 2025, covering Patriot system sustainment through July 31, 2045. Also, in November 2025, a $698.9 million contract was booked for National Advanced Surface to Air Missile System (NASAMS) fire units. This segment's strength is reflected in the overall defense backlog, which stood at $103 billion as of Q3 2025.

For Fuel-efficient, advanced commercial jet propulsion (Pratt & Whitney), the value is driven by the installed base and aftermarket needs. Pratt & Whitney reported sales of $8.4 billion in Q3 2025, supported by a 23 percent growth in commercial aftermarket. This recurring revenue stream is vital, and just in December 2025, they were awarded a $1.6 billion undefinitized contract action for F135 engine sustainment. To be fair, Q1 2025 sales for Pratt & Whitney were $7.4 billion, showing strong early-year momentum.

The proposition covering Mission-critical avionics and aerospace systems for all major platforms is anchored by the Collins Aerospace segment. This business posted $7.6 billion in Q3 2025 sales, with commercial aftermarket growing 13 percent year-over-year. You can see the health of the installed base with over $100 billion of out-of-warranty content noted at Collins Aerospace.

When we look at Next-generation defense capabilities like electronic warfare and directed energy, the value is in securing future technology dominance, which is clearly reflected in new awards. The total company backlog hit a record $251 billion at the end of Q3 2025, with $37 billion in new awards that quarter alone.

Finally, the value of Long-term, reliable aftermarket support for commercial and military fleets is what underpins the massive backlog. The total backlog of $251 billion as of Q3 2025 is split between $148 billion commercial and $103 billion defense. This massive order book shows customers are buying into the long-term serviceability of RTX products. Here's the quick math on some of those defense program backlogs contributing to that long-term support stream:

Program/Area	Specific Contract/Backlog Value	Date Context
Patriot Sustainment Umbrella	$50 billion	August 2025 Award
F135 Engine Sustainment	$1.6 billion	December 2025 Award
Raytheon Segment Backlog (Total)	$72 billion	Q3 2025
LTAMDS Cumulative Contract Value	$3.8 billion	August 2025

The company is actively investing to service this demand, noting over $600 million this year in expansion projects, with Raytheon specifically investing $300 million to support growing demand.

The core value propositions are supported by these recent financial realities:

• Total RTX Backlog: $251 billion as of Q3 2025.
• Q3 2025 New Awards: $37 billion total.
• Pratt & Whitney Q3 2025 Sales: $8.4 billion.
• Raytheon Segment Q3 2025 Sales: $7,045 million.
• Romania Patriot Contract: $946 million.

If onboarding takes 14+ days, churn risk rises, but for RTX, if they can't ramp capacity to meet the $251 billion backlog, the risk is to future revenue realization, not current value proposition strength.

Finance: draft 13-week cash view by Friday.

Raytheon Technologies Corporation (RTX) - Canvas Business Model: Customer Relationships

The customer relationships for Raytheon Technologies Corporation (RTX) are fundamentally anchored in long-cycle, high-value engagements across defense and commercial aerospace sectors.

Dedicated, long-term contractual relationships with government agencies

Raytheon Technologies Corporation (RTX) maintains deep, multi-year commitments with the U.S. Department of Defense (DoD) and international allies. The defense segment backlog stood at $103 billion as of the third quarter of 2025. This is part of a total company backlog reaching $251 billion at that time. You see this relationship materialize in specific, large-scale awards; for instance, Raytheon secured the largest contract in the history of the AIM-9X program, valued at more than $1.1B, for missile production for the US Navy and international partners. Furthermore, a recent modification for SPY-6 radar production was valued at $646.5 million, with work scheduled through September 2028. A payment of $141 million to RAYTHEON COMPANY from the Department of the Navy was recorded on 2025-03-20.

The structure of these government relationships is evident in the volume of specific defense awards:

• FY 23-25 SM-3 BLOCK IIA AURS: $1,334,626,595
• GMA (MK25) C-BAND: $1,013,250,000
• ADVANCED MEDIUM RANGE AIR TO AIR MISSILE (AMRAAM) PRODUCTION LOT 37: $659,763,997
• STINGER MISSILE PRODUCTION: $544,310,737

Direct, high-touch account management for major commercial airlines

For commercial aviation customers, the relationship is managed through direct, high-touch engagement, particularly in the aftermarket space. This focus drives significant growth; the commercial aftermarket sales for Collins Aerospace saw a 16 percent increase in the third quarter of 2025. In the second quarter of 2025, commercial aftermarket sales specifically rose by 19 percent. This segment's success is also reflected in the Q1 2025 commercial aftermarket growth of 21 percent.

Collaborative R&D with military customers to define future requirements

The development of future defense capabilities is intrinsically linked to customer needs, as seen in ongoing platform modernization. A recent modification awarded to Raytheon Missiles and Defense involved Tomahawk recertification, including an option for engineering support services for foreign military sales, valued at $44,588,201. This type of work solidifies the partnership in evolving mission requirements.

High-trust, compliance-driven engagement for sensitive defense programs

Trust is paramount for programs involving national security systems. The Raytheon segment reported sales of $7,045 million in the third quarter of 2025. The company's ability to secure contracts like the one for the Standard Missile-6 program, valued at $117.1 million with completion expected by April 2029, demonstrates sustained confidence in meeting stringent compliance and performance standards.

Aftermarket service agreements for engine and component maintenance

The maintenance, repair, and overhaul (MRO) business forms a critical, recurring revenue stream, especially for Pratt & Whitney engines and Collins Aerospace components. The overall commercial aftermarket performance is a key driver for the company's financial health, with organic sales growth in Q2 2025 being 16 percent across all segments.

Here's a look at recent segment sales performance, which includes the aftermarket component:

Segment	Q3 2025 Reported Sales	Year-over-Year Sales Growth (Q3 2025)
Collins Aerospace	$7.6 billion	8 percent
Raytheon (Defense)	$7,045 million	Not explicitly stated for segment only in Q3 result
Total RTX	$22.5 billion	12 percent

The relationship with commercial customers is heavily weighted toward ensuring fleet readiness and maximizing asset uptime through these service agreements.

Raytheon Technologies Corporation (RTX) - Canvas Business Model: Channels

Direct sales to the US Department of Defense and international militaries are channeled through the Raytheon segment, securing major platform and missile system contracts.

The total contract backlog at the end of the second quarter of 2025 stood at $236 billion, with $92 billion attributed to defense contracts.

Specific contract awards in 2025 demonstrate this channel:

• Raytheon was awarded a $946 million contract to supply Romania with additional Patriot air and missile defense systems in January 2025.
• A September 2025 award for the Coyote Missile System totaled $5,039,629,681.
• A September 2025 contract for Stinger missiles was valued at $578,628,020.
• The US Army awarded a follow-on contract for the Rapid Campaign Analysis and Demonstration Environment (RCADE) modeling and simulation capability in March 2025.

Direct sales to major commercial aircraft Original Equipment Manufacturers (OEMs) are primarily executed through the Collins Aerospace and Pratt & Whitney segments.

For Collins Aerospace, the 2024 sales portfolio breakdown showed that 55% was OEM-related.

Pratt & Whitney secured a $1.6 billion sustainment contract for F135 engines in November 2025.

The segment sales for the quarter ended March 31, 2025, were:

Segment	Net Sales (Millions USD)	Percentage of Total Q1 2025 Sales
Collins Aerospace	7,220	35.56%
Pratt & Whitney	7,370	36.29%
Raytheon	6,340	31.15%

Global network of Collins Aerospace and Pratt & Whitney service centers supports aftermarket revenue.

Collins Aerospace operates over 250+ Sites Globally.

Pratt & Whitney Canada PT6A aerial application engine surpassed 1 million flight hours in 2025.

Pratt & Whitney invested $20 million to increase Engine Center maintenance, repair and overhaul (MRO) capacity in West Palm Beach, Florida, with completion expected by the second half of 2025.

The Government-to-government Foreign Military Sales (FMS) process is a significant channel for the Raytheon segment, often resulting in large potential sales notifications.

Recent FMS activity includes:

FMS Customer	Estimated Value	System/Equipment	Date Notified
Germany	Potential $3.5 billion	SM-6 Block I and SM-2 Block IIIC missiles	November 2025
Canada	Estimated $2.68 billion	Precision air-strike weapons (SDB I, SDB II, JDAM kits)	December 2025
Poland	$500 million	AIM-120D-3 AMRAAM Missiles	December 2025

The FMS process also funds development work; for instance, a Standard Missile 2 development contract obligated $18.5 million in Foreign Military Sales Canada funds in August 2025.

Direct digital channels for parts provisioning and technical data are integrated across the segments, supporting the aftermarket business.

For Collins Aerospace, the commercial aftermarket sales grew by 13% in Q1 2025.

Pratt & Whitney saw a 19% rise in commercial aftermarket sales in Q2 2025.

The F135 propulsion systems contract awarded in September 2025 explicitly included support for F-35 Cooperative Program Partners and Foreign Military Sales customers, indicating a structured digital/logistical pathway for these sales.

Raytheon Technologies Corporation (RTX) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Raytheon Technologies Corporation (RTX) as of late 2025. This company's revenue streams are deeply tied to government defense spending and the health of the global commercial aviation sector. Honestly, the sheer scale of their backlog tells you a lot about where their near-term certainty lies.

For the full year 2024, Raytheon Technologies Corporation reported adjusted sales of $80.8 billion. By the second quarter of 2025, the total backlog had swelled to $236 billion, which was a 15 percent increase versus the prior year. The defense portion of the backlog at the end of 2024 stood at $93 billion.

US Government (DoD, NASA, intelligence agencies)

This segment represents the bedrock of stability for Raytheon Technologies Corporation, given the non-discretionary nature of defense spending. In fiscal year 2024, the United States accounted for 57.1% of the company's total revenue. The Raytheon segment, which houses many of the core defense systems, reported adjusted sales of $7,157 million in the fourth quarter of 2024. For the third quarter of 2025, the Raytheon segment saw adjusted sales of $7,045 million, marking a 10 percent increase year-over-year, driven by demand for systems like international Patriot and naval programs. The company is planning to increase Coyote production by 93 percent in 2025.

• The defense portion of the total backlog was $93 billion as of the end of 2024.
• In Q1 2024, the cumulative government revenue exposure was reported at 55%.

International Governments and Foreign Militaries (e.g., Middle Eastern, Asian)

International government sales are a critical growth vector, especially for the Raytheon segment's missile and defense products. Raytheon's systems, such as Patriot and National Advanced Surface-to-Air Missile System (NASAMS), are protecting more than 50 countries around the world. Geographically, Europe contributed 19.8% of revenue and Asia Pacific contributed 13.5% in 2024. The Middle East and North Africa region accounted for 4.3% of revenue in 2024. The Q4 2024 sales increase for the Raytheon segment was partially due to higher volume from the restart of contracts with a Middle East customer.

Commercial Aerospace OEMs (e.g., Boeing, Airbus)

This group consists of the major aircraft manufacturers who purchase original equipment (OE) from Collins Aerospace and engines from Pratt & Whitney. The commercial portion of the backlog was substantial at $125 billion at the end of 2024. Pratt & Whitney's Q3 2025 sales were up 16 percent versus the prior year, with commercial OE sales increasing by 5 percent, driven by higher volume in large commercial engines. Collins Aerospace reported that its Q2 2025 sales included a 1 percent increase in commercial OE.

Global Commercial Airlines and Cargo Operators

These operators are the primary consumers of aftermarket services and new engines, making the health of their fleets a direct driver for two of Raytheon Technologies Corporation's segments. Pratt & Whitney saw its commercial aftermarket sales jump by 23 percent in Q3 2025. Collins Aerospace's commercial aftermarket sales increased by 13 percent in Q2 2025. For the full year 2024, Pratt & Whitney had more than 90,000 engines in service. The company expects adjusted sales of $83.0 to $84.0 billion for the full year 2025.

Business and Regional Aircraft Operators

The installed base data for Collins Aerospace gives you a sense of the scope of support required by this diverse group of operators. Collins Aerospace has an installed base of $170 billion, which includes avionics, power systems, and advanced structures on more than 115,000 aircraft. Pratt & Whitney Canada, a key supplier for regional and business jets, contributed to the 5 percent increase in commercial OE sales in Q3 2025.

Here's a quick look at the financial scale tied to these customer groups based on 2024 and 2025 projections:

Metric	Value	Year/Period
Total Adjusted Sales (Projected)	$83.0 to $84.0 billion	FY 2025
Total Backlog	$236 billion	Q2 2025
Defense Backlog Share	$93 billion	End of 2024
Commercial Backlog Share	$125 billion	End of 2024
US Geographic Revenue Share	57.1%	FY 2024
Raytheon Segment Sales	$7,045 million	Q3 2025
Pratt & Whitney Commercial Aftermarket Sales Growth	23 percent	Q3 2025 vs Prior Year

The total new awards secured in Q3 2025 alone reached $37 billion, showing robust global demand across all customer types. To be fair, the Pratt & Whitney segment's Q4 2024 revenue was $7.57 billion, while Collins Aerospace was $7.5 billion.

Finance: draft 13-week cash view by Friday.

Raytheon Technologies Corporation (RTX) - Canvas Business Model: Cost Structure

You're looking at the sheer scale of investment required to keep Raytheon Technologies Corporation at the forefront of aerospace and defense. The cost structure is dominated by the physical assets and the intellectual capital needed to deliver on that $\mathbf{\$251}$ billion backlog.

High fixed costs from global manufacturing and capital-intensive facilities

The foundation of Raytheon Technologies Corporation's costs rests on its global manufacturing footprint. For the nine months ended September 30, 2025, the Cost of Sales alone reached $\mathbf{\$51,293}$ million. Looking just at the third quarter of 2025, Cost of Sales was $\mathbf{\$17,898}$ million on total sales of $\mathbf{\$22,478}$ million. Capital Expenditures (CapEx) for the third quarter of 2025 were $\mathbf{\$0.6}$ billion. Analysts project that for the full year 2025, CapEx will be in the range of $\mathbf{3.5-4\%}$ of revenue, up from the $\mathbf{3.0-3.5\%}$ range seen between 2020 and 2024.

Significant research and development (R&D) expenditure for future tech

Innovation isn't cheap; it's a mandatory, massive outlay. For the first nine months of 2025, Research and Development expenses totaled $\mathbf{\$2,018}$ million. In the third quarter of 2025 specifically, R&D spend was $\mathbf{\$684}$ million. This investment supports the development of next-generation products across all segments. Raytheon Missiles & Defense, for instance, is planning to increase Coyote production by $\mathbf{93}$ percent in 2025.

Cost of goods sold for complex, low-volume defense systems

The nature of defense contracts-complex, often low-volume, and highly specified-drives up the Cost of Sales relative to commercial volume. The third quarter of 2025 saw Raytheon segment sales of $\mathbf{\$7,045}$ million, with an operating profit of $\mathbf{\$859}$ million. The defense portion of the total backlog stands at $\mathbf{\$103}$ billion as of Q3 2025. The cost structure reflects the complexity of programs like the F135 engine and various missile systems.

Supply chain and raw material procurement costs, including tariff impacts

Supply chain pressures remain a cost factor. In the third quarter of 2025, tariffs alone represented a meaningful headwind, costing the company approximately $\mathbf{\$90}$ million. This impact was noted as being offset by drop-through on higher commercial aftermarket and military volume. The total backlog of $\mathbf{\$251}$ billion requires managing a vast network of suppliers globally.

Labor costs for a large, highly-skilled engineering and production workforce

The human capital required is substantial and highly compensated. Raytheon Technologies Corporation employs approximately $\mathbf{185,000}$ global employees. This workforce demands significant investment in salaries, benefits, and training for specialized engineering and production roles. Selling, General, and Administrative expenses for the third quarter of 2025 were $\mathbf{\$1,436}$ million, contributing to the total costs.

Here's a quick look at the major cost components for the third quarter of 2025:

Cost Category	Q3 2025 Amount (Millions USD)	Nine Months Ended Sep 30, 2025 Amount (Millions USD)
Cost of Sales	17,898	51,293
Research and Development (R&D)	684	2,018
Selling, General, and Administrative (SG&A)	1,436	4,457
Capital Expenditures (CapEx)	~600 (Based on $0.6B)	N/A
Tariff Headwind (Q3 Only)	~90	N/A

The overall cost picture for the third quarter of 2025 shows total costs and expenses reached $\mathbf{\$20,018}$ million. This is set against a backdrop of a workforce numbering around $\mathbf{185,000}$ people.

• Total Global Employees: 185,000
• Total Backlog: $251 billion
• Defense Backlog Share: $103 billion
• Interest Expense (Q3 2025): $449 million
• Total Costs and Expenses (Q3 2025): $20.02 billion

Raytheon Technologies Corporation (RTX) - Canvas Business Model: Revenue Streams

You're looking at the top-line picture for Raytheon Technologies Corporation (RTX) as of late 2025. The company has definitely seen demand pick up, leading to an updated full-year expectation. Adjusted sales are projected to land between $86.5 billion and $87.0 billion for Fiscal Year 2025.

A major pillar supporting this forecast is the sales of defense systems and missiles, primarily through the Raytheon segment. This stream benefits directly from escalated geopolitical tensions and increased defense budgets globally. For instance, in the third quarter of 2025, the Raytheon business generated $7.05 billion in quarterly sales, marking a 10 percent year-over-year increase, driven by higher volumes across Patriot, SM-6, and Evolved SeaSparrow Missile programs.

The commercial aftermarket services segment is showing serious strength, which is great for stability. We're seeing growth rates that are definitely in the mid-teens, and sometimes higher. For example, in the second quarter of 2025, commercial aftermarket sales for Collins Aerospace grew by 13 percent, and Pratt & Whitney saw a 23 percent increase in commercial aftermarket revenue for the same period. Earlier in the year, Q1 2025 saw commercial aftermarket sales rise by 21 percent. This is all about parts, repair, and overhauls for an aging global fleet.

To give you a clearer picture of the segment contributions based on the latest reported quarterly figures, here's the revenue breakdown from the third quarter of 2025:

Segment/Revenue Type	Q3 2025 Sales Amount
Pratt & Whitney (Engines)	$8.423 billion
Collins Aerospace (Avionics/Aerospace Components)	$7.621 billion
Raytheon (Defense Systems and Missiles)	$7.05 billion

The sales of commercial and military aircraft engines, which fall under Pratt & Whitney, are a significant component, with third quarter 2025 reported and adjusted sales reaching $8,423 million, up 16 percent versus the prior year. Similarly, the sales of avionics and aerospace components from Collins Aerospace contributed $7,621 million in the third quarter of 2025. This latter segment saw its commercial aftermarket revenue grow by 13 percent in that quarter.

You can see the revenue streams are well-diversified, balancing long-term government contracts with the cyclical but currently booming commercial aviation maintenance cycle. The company's total backlog at the end of Q3 2025 stood at a record $251 billion, split between $148 billion commercial and $103 billion defense.

• Adjusted sales target for FY 2025: $86.5 billion to $87.0 billion.
• Pratt & Whitney Q3 2025 Sales: $8.423 billion.
• Collins Aerospace Q3 2025 Sales: $7.621 billion.
• Raytheon Q3 2025 Sales: $7.05 billion.
• Commercial Aftermarket Growth (Q2 2025 Example): 16 percent to 23 percent across segments.