or providing to the EA. Pratt & Whitney accounts for its interests in the EA joint venture under the equity method of accounting. Pratt & Whitney continues to pursue additional collaboration partners. Pratt & Whitney holds a net 61 percent program share interest in the IAE International Aero Engines AG collaboration with MTU Aero Engines AG and Japanese Aero Engines Corporation. Pratt & Whitney is under contract with the U.S. Government's F-35 Joint Program Office to develop, produce, and sustain the F135 engine, a derivative of Pratt & Whitney’s F119 engine, to power the single-engine F-35 Lightning II aircraft (commonly known as the Joint Strike Fighter) being developed and produced by Lockheed Martin Corp. In addition, Pratt & Whitney is developing technology, including the PurePower PW1000G Geared TurboFan engine, intended to enable it to power both currently-proposed and future aircraft. This segment’s products are sold principally to aircraft manufacturers, airlines and other aircraft operators, aircraft leasing companies and the U.S. and foreign governments. UTC Aerospace Systems This segment provides aerospace products and aftermarket service solutions for aircraft manufacturers, airlines, regional, business and general aviation markets, military, space and undersea operations worldwide. This segment’s product portfolio includes electric power generation, power management and distribution systems, air data and flight sensing and management systems, engine control systems, electric systems, intelligence, surveillance and reconnaissance systems, engine components, environmental control systems, fire and ice detection and protection systems, propeller systems, aircraft aerostructures including engine nacelles, thrust reversers, and mounting pylons, interior and exterior aircraft lighting, aircraft seating and cargo systems, actuation systems, landing systems, including landing gears, wheels and brakes, and space products and subsystems. Aftermarket services include spare parts, overhaul and repair, engineering and technical support and fleet management solutions. This segment sells aerospace products to aircraft manufacturers, airlines and other aircraft operators, the U.S. and foreign governments, maintenance, repair and overhaul providers, and independent distributors. This segment’s major customers are Boeing and Airbus with a combined 31 percent of total UTC Aerospace Systems segment sales in 2015. Sales to the U.S. Government were 19 percent of total UTC Aerospace Systems segment sales in 2015. Dispositions In November 2015, the company completed its sale of Sikorsky Aircraft business, which manufactured military and commercial helicopters, and also provided aftermarket helicopter and aircraft parts and services, to Lockheed Martin Corp. Research and Development The company spends substantial amounts of its own funds on research and development. These expenditures, which are charged to expense as incurred, were $2.3 billion in 2015. Competition Pratt & Whitney’s major competitors in the sale of engines are GE Aviation, Rolls-Royce, Honeywell, Turbomeca, and CFM International. History United Technologies Corporation was founded in 1934. The company was incorporated in Delaware in 1934.
united technologies corp (UTX:New York)
10 Farm Springs Road
Farmington, CT 06032
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