United Technologies is also a military type contractor. In addition, a portion UT revenue does come from the Government. Actually, it is estimated that between 10-15% of company revenue comes directly from Government.
UTC designed new tech equipment which goes way beyond aerospace. Originally, the main goal of UTC was to maintain an equal balance between military business and civilian business. The company enjoyed great success and continues to grow financially and economically.
In the mid-1990’s, UTC merged with the Sunstrand Corporation. Once the merger was complete the Hamilton-Sunstrand unit came into being. The company continue to grow when in 2003 UTC decided to enter the security and fire business. The growth in 2003 was made possible by purchasing Chubb Security for an undisclosed amount.
Within about two years following the purchase of Chubb Security, UTC decided to become an wholly owned subsidiary. In 2005, UTC took on additional responsibilities when they acquired Boeing’s Rocketdyne Division.
Finally, in early 2009 UTC made the very public announcement that they would soon own a part of Clipper Windpower. Actually, it was later revealed that UTC would own roughly 50% of Windpower. It appeared that UTC continue to prosper and provide expertise services unmatched by any other company.
In 2013, a tiny portion of UTC was sold to Clear Edge Power Company. UTC also began supplying services to food processing industries as well as mining companies.