RTX's Pratt & Whitney celebrates a century of flight
Rhea-AI Summary
RTX's (NYSE: RTX) subsidiary Pratt & Whitney celebrates its 100th anniversary since its 1925 incorporation. The company, which revolutionized aviation with its R-1340 Wasp radial engine, now has over 90,000 engines in service globally and employs 45,000 people worldwide.
From its first 425-horsepower R-1340 Wasp engine that gained U.S. Navy approval in 1926 to modern innovations like the GTF™ engine powering over 85 airlines worldwide, Pratt & Whitney has maintained its position as a global leader in aircraft propulsion technology. The company currently serves more than 17,000 customers and continues to invest in advanced technologies including hybrid-electric, hydrogen, and adaptive propulsion systems.
Positive
- Strong market presence with over 90,000 engines in service globally
- Extensive customer base of more than 17,000 clients
- GTF engine adoption by 85+ airlines worldwide
- Continued investment in future technologies including hybrid-electric and hydrogen propulsion
Negative
- None.
News Market Reaction
On the day this news was published, RTX declined 1.58%, reflecting a mild negative market reaction. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $3.25B from the company's valuation, bringing the market cap to $202.48B at that time.
Data tracked by StockTitan Argus on the day of publication.
Pioneer of radial engine design continues to build on its legacy of aircraft propulsion innovation
"Since our founding in 1925, the people of Pratt & Whitney have designed, built and supported the safest, most dependable engines in aerospace, united by a common purpose: connecting people, growing economies and defending freedom," said Shane Eddy, president, Pratt & Whitney. "Our 45,000 employees worldwide work every day to uphold our 100-year legacy of safety, innovation and dependable engines. The words 'dependable engines' are literally stamped on every engine we produce – it's a mission our entire team lives by and a commitment to our customers."
Pratt & Whitney's visionary founder, Frederick B. Rentschler, saw the potential of a lightweight, air-cooled radial engine to enable unparalleled levels of power and reliability for aviation. By October 1926, Pratt & Whitney's first 425-horsepower R-1340 Wasp engine had won the approval of the
At the dawn of the jet age, Pratt & Whitney successfully pivoted from its commitment to radial engine development by leading another major innovation in aircraft propulsion technology with one of the world's first twin-spool gas turbine engines. The J57 engine and its commercial equivalent, the JT3C, powered aircraft such as the Boeing B-52 Stratofortress and 707 and DC-8 airliners, ushering in a new era of commercial air travel and laying the foundation for advancements in gas turbine technology which have continued ever since.
Today, the business provides industry-leading propulsion technologies for more than 17,000 customers. The Pratt & Whitney GTF™ engine is the most fuel-efficient engine for single-aisle aircraft, powering the Airbus A220, A320neo, and Embraer E2 jet families for more than 85 airlines worldwide. The Pratt & Whitney F135 engine is the safest, most capable and reliable fighter engine, powering the Lockheed Martin F-35 Lightning II. Pratt & Whitney Canada plays a leading role in powering a wide array of general, regional and business aviation aircraft, having independently developed and certified more than 200 engine types since the introduction of the PT6 turboprop engine in 1963.
"From the introduction of the PW127XT and GTF Advantage, to the development of the F135 Engine Core Upgrade, our world-class team is redefining what's possible for our customers," said Eddy. "Leveraging the unrivalled breadth and scale of RTX, we are well positioned to shape the future of flight for the next 100 years, as we continue to build on our legacy of innovation with investments in advanced technologies such as hybrid-electric, hydrogen, rotating detonation and adaptive propulsion."
As part of centennial celebrations taking place throughout the year, Pratt & Whitney is engaging its employees with a travelling exhibit visiting 11 of its facilities around the world, and which can also be experienced online. A historical marker will also be unveiled at the site of Pratt & Whitney's original headquarters in
About Pratt & Whitney
Pratt & Whitney, an RTX business, is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units for military, commercial and civil aviation customers. Since 1925, our engineers have pioneered the development of revolutionary aircraft propulsion technologies, and today we support more than 90,000 in-service engines through our global network of maintenance, repair and overhaul facilities.
About RTX
RTX is the world's largest aerospace and defense company. With more than 185,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses – Collins Aerospace, Pratt & Whitney, and Raytheon – we are advancing aviation, engineering integrated defense systems for operational success, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2024 sales of more than
For questions or to schedule an interview, please contact corporatepr@rtx.com.
View original content:https://www.prnewswire.com/news-releases/rtxs-pratt--whitney-celebrates-a-century-of-flight-302508938.html
SOURCE RTX
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