Raytheon moving global HQ to Arlington
Move will see four of top five defense contractors based in Va.
Raytheon Technologies Corp. announced Tuesday that it will relocate its global headquarters from Massachusetts to Arlington in the third quarter of this year, a move that will see four of the top five U.S.-based aerospace and defense contractors headquartered in Virginia. Raytheon is the second-largest defense company in the world, just below Lockheed Martin, and will be the commonwealth’s largest aerospace and defense contractor.
Raytheon’s new corporate headquarters will be in Arlington’s Rosslyn neighborhood, near company’s existing Raytheon Intelligence & Space business located there. Raytheon has not sought or accepted financial incentives from the state, it said in a release. A spokesperson said that Raytheon expects to “slightly expand the scope of our existing leased space in Arlington,” where 130 corporate staff members currently work. Chris Johnson, senior director of global media relations, said that the company does not expect its corporate staff to increase significantly as a result of the move.
“I commend Raytheon Technologies’ leadership and pledge that Virginia is committed to being a partner in their mission to build a safer, more connected world,” Gov. Glenn Youngkin said in a statement. “With four of the top five major U.S. aerospace and defense leaders now based in Virginia, [Raytheon’s] decision to headquarter in Arlington demonstrates the commonwealth is the best destination for the aerospace and defense community.”
Raytheon has 600 facilities in 44 states and territories, and all four of its business units have operations in Virginia, where it has more than 1,000 employees and is a top employer in Loudoun County and Falls Church. The company, which employs more than 180,000 people worldwide, reported $64.38 billion in 2021 sales. Raytheon Technologies formed in 2020 following the merger of Raytheon Co. with the aerospace business of United Technologies Corp.
Raytheon’s announcement comes after The Boeing Co. said in May that it would move its global headquarters from Chicago to Arlington. The world’s third-largest defense contractor joins Falls Church-based Northrop Grumman Corp. and Reston-based General Dynamics Corp., which rank fourth and fifth respectively among the world’s largest defense contractors.
Raytheon Chair and CEO Gregory J. Hayes was elected chairman of Raytheon’s board in 2021 and worked for nearly 21 years at UTC in several senior roles across finance, corporate strategy and business development. He was appointed UTC CEO in 2014 and named chair in 2016 and led UTC’s reshaping into a company focused on aerospace, spinning off Otis Elevator Co. and Carrier Global Corp. in 2020. He led UTC’s merger, including its remaining aerospace businesses, Pratt & Whitney and Collins Aerospace Systems, to form Raytheon Technologies in April 2020. Hayes received his bachelor’s degree from Purdue University, in Indiana, and is a certified public accountant.
“We are thrilled to welcome Raytheon Technologies’ global headquarters to Virginia, America’s corporate hometown,” Virginia Economic Development Partnership President and CEO Jason El Koubi said in a statement. “Raytheon and other leading firms are attracted to the commonwealth’s world-class talent, dynamic industrial and innovation ecosystem, strategic location, global connectivity and exceptional quality of life. Raytheon Technologies’ global headquarters location will reinforce strategic partnerships and further strengthen Virginia’s aerospace and defense ecosystem in areas like avionics, cybersecurity, directed energy, electric propulsion, hypersonics and quantum physics. We look forward to a continued partnership with Raytheon Technologies as we begin this exciting new chapter.”
Shannon Flanagan-Watson, interim director for Arlington Economic Development, said, “Raytheon’s announcement, as well as that of Boeing last month, show that more companies are choosing Arlington for their headquarters. Our skilled, highly-educated workforce, key investments in public infrastructure and our exceptional tech ecosystem are factors companies desire when locating a company. We welcome Raytheon’s global headquarters and look forward to their continued presence in Arlington.”
Raytheon Technologies traces its origins to the 1922 founding of Raytheon Co. in Cambridge, Massachusetts. Raytheon became the supplier of magnetron tubes, essential in the Britain’s air defense, to the Allies during World War II. Today, Raytheon businesses provide the U.S. Navy’s F/A -18 fighter jets with precision weapons, radars, sensors and other systems.
In April, Raytheon Missiles & Defenses received a $483 million contract from the Navy to activate, sustain and modernize the service’s fleet of three Zumwalt class of guided missile destroyers. The contract includes options that, if exercised, will total $1.68 billion over five years. The contract also includes additional design, integrations, test and evaluation and other services for the Zumwalt, a stealth destroyer that has been beset by development problems.
Raytheon manufactures Stinger anti-aircraft missiles, which the U.S. is providing to Ukraine in its defense against invading Russian forces. In May, Raytheon won a $624 million U.S. Army contract to produce 1,300 more of the Stinger missiles. The contract is being funded through a provision of the Additional Ukraine Supplemental Appropriations Act.