Raytheon Explores Sale of Actuation Unit That Makes Flight Controls

Raytheon Technologies Corp. is considering a sale of a unit that makes products including flight controls, which could fetch about $1 billion, according to people familiar with the matter.

(Bloomberg) — Raytheon Technologies Corp. is considering a sale of a unit that makes products including flight controls, which could fetch about $1 billion, according to people familiar with the matter.

The Arlington, Virginia-based company is working with an adviser to examine strategic options for the actuation unit, said the people, who asked not to be identified because they weren’t authorized to speak publicly.

The unit is expected to attract interest from corporate suitors and private equity firms, the people said.

A representative for Raytheon declined to comment.

Raytheon, led by Chief Executive Officer Gregory Hayes, consists of four primary businesses: Pratt & Whitney, intelligence and space, missiles and defense and Collins Aerospace.

The actuation business sits within Collins, having first been a division of Rockwell Collins and then United Technologies prior to its merger with Raytheon, which closed in 2020.

Raytheon now employs around 174,000 staff globally, including 58,000 engineers, making $64.4 billion in sales in 2021, according to its website.

It is the most valuable US aerospace and defense company, with a market value of about $148 billion.

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