Raytheon Technologies: 100 years of era-defining innovation 

 

In 1922, on the vacant third floor of a building in Cambridge, Massachusetts, the founders of what was essentially a tech startup used chalk and string to trace the footprint of their first lab.

Source: News | 100 years of era-defining innovation | Raytheon Technologies

Lockheed’s Sikorsky wins $2.3B Army Black Hawk multi-year contract

WASHINGTON — Lockheed Martin’s Sikorsky unit won its 10th five-year contract worth $2.3 billion for 120 H-60 Mike-model Black Hawk utility helicopters with options for an additional 135 aircraft for both the Army and other customers through Foreign Military Sales, the Pentagon said.

Source: Lockheed’s Sikorsky wins $2.3 billion Army Black Hawk multi-year contract

US Army awards $72M for new phase in next-gen ground system effort

WASHINGTON — The U.S. Army announced Tuesday its effort for a next-generation, software-centric ground system is transitioning to another phase.

The service awarded $36 million each to software company Palantir Technologies and defense firm Raytheon Technologies for work on the Tactical Intelligence Targeting Access Node, which is currently under development. TITAN is expected to help connect sensors with users in the field to support beyond-line-of-sight targeting.

Source: US Army awards $72 million for new phase in next-gen ground system effort

Market Surprise: Two Million New Energy Vehicles Sold in Q1

In a report published Monday (5/16), TrendForce announced that despite ongoing market challenges, global sales of new energy vehicles – a category that includes hybrid vehicles, battery electric vehicles and fuel-cell vehicles – topped 2 million units in the first quarter of 2022.

TrendForce’s Caroline Chen noted that Q1 sales grew 80 percent year over year: “Battery electric vehicles (BEV) demonstrated the strongest growth with sales reaching 1.508 million units. Plug-in hybrid electric vehicles (PHEVs) sold 493,000 units.”

Source: Market Surprise: Two Million New Energy Vehicles Sold in Q1 | Weekly News Roundup for May 20, 2022 | TTI, Inc.

Investing in Harsh Environment Solutions for Oil & Gas Exploration

We are heading into a multi-year “up cycle” for oil and gas after the longest period of underinvestment in the history of the industry. Instead of putting money back into equipment, stakeholders have wanted to see quicker returns on their investments. Those business objectives coincided with political and social forces moving toward “green” technology, electrification and higher fuel efficiency standards.

Source: Investing in Harsh Environment Solutions for Oil & Gas Exploration | TTI, Inc.

Advent Technologies announces $821M fuel cell project in Greece

Cambridge-based Advent Technologies on Thursday announced that Greek officials have approved funding for what is the equivalent of an $821 million project to develop fuel cells and electrolyzers in the Western Macedonia region over six years.

Source: Advent Technologies announces $821M fuel cell project in Greece – Boston Business Journal

Desktop Metal to lay off 12% of global workforce

Desktop Metal Inc., a Burlington-based 3D printing company that went public through a reverse merger in 2020, is laying off 12% of its global workforce, citing the integration of businesses acquired last year.

Source: Desktop Metal to lay off 12% of global workforce – Boston Business Journal

U.S. Rail Infrastructure Gets a $368M Financial Infusion 

As supply chain and transportation snarls continue, the Federal Railroad Administration announces a new round of grants meant to maintain, improve and expand the nation’s passenger and freight rail systems.

Source: U.S. Rail Infrastructure Gets a $368 Million Financial Infusion | Source Today

GE Aviation looks to revolutionize flight with new engine 

On a cloudless December morning last year, a United Airlines Boeing 737 jet took off from Chicago’s O’Hare International Airport with 115 passengers, landing as planned about 2 hours later at Reagan National Airport in Washington, D.C.

Source: GE Aviation looks to revolutionize flight with new engine – Boston Business Journal

Raytheon history in Mass.: A timeline 

 

The company now known as Raytheon Technologies Corp. (NYSE: RTX) has been around for 100 years, all of them headquartered in Massachusetts, where it has long been one of the state’s largest employers. Today the company touts 12,000 Massachusetts workers, out of 174,000 worldwide. It’s the state’s second-largest most valuable public company by market cap (only Thermo Fisher Scientific Inc. is worth more).

Source: Raytheon history in Mass.: A timeline – Boston Business Journal

Raytheon awarded $423 million US Navy contract for SPY-6 family of radars 

TUCSON, Ariz., (May 23, 2022) — Raytheon Missiles & Defense, a Raytheon Technologies business, is awarded a $423 million contract to continue to produce SPY-6 radars for the U.S. Navy. This is the first option exercised from the March 2022 hardware, production and sustainment contract that is valued up to $3.16 billion over five years.

Source: News | Raytheon Missiles & Defense awarded $423 million US Navy contract for SPY-6 family of radars | Raytheon Missiles & Defense

New Smart Syringe Uses NFC to Store Drug Information

NP Plastibell has announced a pre-filled “smart syringe” with an embedded NFC chip that relays information about the medicine to practitioners and patients.

Source: New Smart Syringe Uses NFC to Store Drug Information – News