Raytheon, formerly Raytheon Company, is a large defense contractor in the US, as well as a manufacturer of military equipment and weapons, and commercial electronics. Until early 2007, Raytheon was involved in corporate and special mission aircraft. The organization is the largest producer of guided missiles in the world. The company employees over 64,000 people, fulfilling a large range of roles, from research positions, to engineering jobs, management roles, and administrative work. Raytheon turned over $25.348 billion USD in revenue in 2017, achieving a net income of $2.024 billion USD.
Raytheon was founded in 1922, and incorporated in 1928. Founders Laurence K Marshal, Charles G Smith, and Vannevar Bush, together launched the American Appliance Company in Massachusetts. At that time, the company focused on refrigeration technology, though this focus would soon shift to electronics, with products such as the helium rectifier, which was based on Smith's previous research as a scientist.
It was in 1925 that the company formally changed its name to Raytheon Manufacturing Company. A merger in 1928 with Q.R.S. Company subsequently allowed the company to grow into one of the largest manufacturers of vacuum tubes. Similarly, an acquisition of Acme-Delta Company allowed the business to branch out into transformers, automobile parts, and power equipment.
The company would play an important role producing magnetron tubes used in radar systems during World War 2, and its research into those tubes helped lead to the invention of the microwave oven.
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