美国雷神公司分析报告Raytheon Technologies-外文版培训课件2024.7

COMPANIES

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PRODUCTSRaytheonTechnologiesCHAPTER

01OverviewMarketsizeoftheglobalaerospaceservicesfrom2024to2043,byregion(inbillionU.S.dollars)Aerospaceservicesmarketsizebyregion2024-20431,2001,0008006004002000EurasiaNorthAmericaChinaMiddleEast

SoutheastAsia

LatinAmerica

NortheastAsia

SouthAsiaAfricaOceania3Description:From2024to2043,theglobalaerospaceservicesmarketsizeisexpectedtoreachapproximately4.4trillionU.S.dollars,ofwhicharound24percentwillbegeneratedinEurasia.Duringthegivenperiod,NorthAmericawasexpectedtobethesecond-largestmarketforcommercialservices,accountingfor23percent.ReadmoreNote(s):Worldwide;2024Source(s):BoeingLeadingcountrieswiththehighestaerospaceexportsin2022(inbillionU.S.dollars)Countrieswiththehighestaerospaceexports2022ExportsinbillionU.S.dollars600204080100120UnitedStatesFrance102.832.8GermanyUK29.213.2CanadaChinaItalySpainSingaporeBrazil10.15.65.65.45.13Israel2.3IrelandNetherlandsThailandTürkiye2.22.12.011.994Description:In2022,theUnitedStatescontributedsome102.8billionU.S.dollarsinaerospaceexports.Thus,makingittheleadingcountryintermsofaerospaceexports.Thecountryishometosomeoftheleadingmanufacturersintheaerospacesector,includingBoeingandLockheedMartin.ReadmoreNote(s):Worldwide;2022Source(s):WTExWorld'slargestconglomeratesasofMay5,2023,basedonmarketvalue(inbillionU.S.dollars)World'slargestconglomerates:marketvalue2023MarketvalueinbillionU.S.dollars020406080100120140160180200RelianceIndustries(India)Danaher(U.S.)189.19178.9RaytheonTechnologies(U.S.)HoneywellInternational(U.S.)Siemens(Germany)GeneralElectric(U.S.)ABB(Switzerland)3M(U.S.)141.12132.08130.65109.1666.7557.0256.05Softbank(Japan)Hitachi(Japan)Mitsubishi(Japan)Itochu(Japan)53.7653.549.1848.16Mitsui(Japan)5Description:RelianceIndustriestoppedthe2023rankingoftheconglomerateswiththehighestmarketvalueworldwide.TheconglomeratebeatoutmajorplayerssuchasDanaher,HoneywellInternational,3M,RaytheonTechnologies,andSiemens.

ReadmoreNote(s):Worldwide;asofMay5,2023Source(s):FactSet;ForbesLeadingaerospaceanddefensemanufacturersworldwidein2023,basedonrevenue(inbillionU.S.dollars)Revenueofthegloballeadingaerospaceanddefensemanufacturers2023RevenueinbillionU.S.dollars30,000

40,000

50,000010,00020,00060,00070,00080,00090,000BoeingAirbus77,79470,82968,92067,571RaytheonTechnologiesLockheedMartinGeneralDynamicsNorthopGrummanGEAviation42,27239,29031,77028,70425,596BAESystemsSafranRollsRoyce20,5056Description:Asof2023,intheaerospaceanddefensemanufacturingindustry,Boeingoutperformedallcompetitors,includingitsclosestrivals,Airbus,RaytheonTechnologies,andLockheedMartin,witharevenueofroughly77.8billionU.S.dollars.

ReadmoreNote(s):Worldwide;2023Source(s):PwCTotalanddevelopment(R&D)spendingonaerospaceanddefensein2022,byregion(inbillioneuros)TotalR&Dspendingonaerospaceanddefenseworldwide2022,byregion2521.420159.41058.7EU2.90.400TotalUSAChinaJapanRestoftheWorld7Description:Intotal,21.4billioneuroswerespentonresearchanddevelopment(R&D)withinaerospaceanddefensebythe2,500largestspendersworldwidein2022.Ofthese,9.4billionswerespentintheUnitedStates,and8.7billionsintheEuropeanUnion.Boeingwasthecompanywiththehighestspending.ReadmoreNote(s):Worldwide;2022Source(s):EuropeanCommissionCHAPTER

02FinancialsRaytheonTechnologiesCorporation'snetsalesfromFY2008toFY2023(inbillionU.S.dollars)RaytheonTechnologies-netsales2008-202390807077.0574.367.166.564.3959.857.956.856.657.257.15605040302010056.152.351.150.548.520082009201020112012201320142015201620172018201920202021202220239/statistics/261562/net-sales-of-united-technologiesInthe2023fiscalyear,RaytheonTechnologiesCorporation(formerlyUTC)generatednetsalesofaround74.3billionU.S.dollars.ThecompanywasformedafterthemergerofUnitedTechnologiesCorporation(UTC)andRaytheonCompanyinApril2020.ReadmoreNote(s):Worldwide;FY2008toFY2023Source(s):RaytheonTechnologies;UnitedTechnologiesCorporationRaytheonTechnologiesCorporation'snetincomefromFY2008toFY2023(inmillionU.S.dollars)*RaytheonTechnologiesCorporation'snetincome:2008-202310,0008,0006,0007,4687,2206,6776,4685,9485,6555,6545,4364,8904,9204,6514,6924,5234,3564,0604,0002,0000-2,000-4,000-6,000-3,892202020082009201020112012201320142015201620172018201920212022202310Description:Afterpostinganetincomelossofaround3.9billionU.S.dollarsin2020,RaytheonTechnologiesreportedover7.4billionU.S.dollarsinnetincomefromcontinuingoperationsinthefiscalyearof2023.ThecompanywasformedafterthemergerofUnitedTechnologiesCorporation(UTC)andRaytheonCompanyinApril2020.ReadmoreNote(s):Worldwide;FY2008toFY2023;fiscalyearendsDecember31ofeachyear.;*Netincomefromcontinuingoperations.Figuresfor2008to2021aretakenfrompreviousUTC'sfinancialstatements.

ReadmoreSource(s):RaytheonTechnologies;UnitedTechnologiesCorporationRaytheonTechnologiesCorporation'sresearchanddevelopmentcostsfromFY2011toFY2023(inbillionU.S.dollars)RaytheonTechnologiesCorporation'sR&Dcosts:2011-20233.53.03.022.812.732.712.582.482.462.432.382.52.01.51.00.50.02.342.262.191.78201120122013201420152016201720182019202020212022202311Description:Inthefiscalyearof2023,RaytheonTechnologiesCorporation'sspendingonresearchanddevelopmentreachedover2.8billionU.S.dollars.ThecompanywasformedafterthemergerofUnitedTechnologiesCorporation(UTC)andRaytheonCompanyinApril2020.ReadmoreNote(s):Worldwide;FY2011toFY2023;fiscalyearendsDecember31ofeachyear.Source(s):RaytheonTechnologies;UnitedTechnologiesCorporationNumberofRaytheonTechnologiesemployeesfromFY2008toFY2023(in1,000s)NumberofRaytheonTechnologiesemployees:2008-2023300243.2240.2250223.1218.3212.4211.5206.7208.2204.7201.6199.9197.2200150100501851811821740200820092010201120122013201420152016201720182019202020212022202312Description:In2023,RaytheonTechnologiesCorporation(RTC)employedaround185,000peopleatyear-end.ThecompanywasformedafterthemergerofUnitedTechnologiesCorporation(UTC)andRaytheonCompanyinApril2020.

ReadmoreNote(s):Worldwide;FY2008toFY2023;fiscalyearendsDecember31ofeachyear.Source(s):RaytheonTechnologies;UnitedTechnologiesCorporationNumberofpatentsintheUnitedStatesgrantedtoRTXCorporation(RaytheonTechnologies)from2010to2023U.S.patentsgrantedtoRaytheon2010-20233,5003,0002,5002,0001,5001,0003,2132,6942,6842,14440140039838236950003213163362922052010201120122013201420152016201720182019202020212022202313Description:In2023,2,144patentsweregrantedtoRTXCorporation,formerlyknownasRaytheonTechnologies,bytheU.S.Patent&TrademarkOffice.Thisisaslightdecreasefrom2022,whenthenumberofpatentsstoodat2,684.

ReadmoreNote(s):UnitedStates;2010to2023Source(s):IntellectualPropertyOwnersAssociation;USPTOCHAPTER

03SegmentsRaytheonTechnologiesCorporation'snetsalesinFY2022,bysegment(inmillionU.S.dollars)RaytheonTechnologies-netsalesbysegment2022NetsalesinmillionU.S.dollars10,00005,00015,00020,00025,000CollinsAerospaceSystems20,59720,530Pratt&WhitneyRaytheonMissilesandDefenseRaytheonIntelligenceandSpace14,86314,31215Description:RaytheonTechnologiesCorporationformedafterthemergerofUnitedTechnologiesCorporation(UTC)andRaytheonCompanyinApril2020.In2022,Raytheon'saircraftandenginessegment,knownasPratt&Whitney,generatedover20.5billionU.S.dollarsinnetsales.ReadmoreNote(s):Worldwide;FY2022;fiscalyearendsDecember31.Source(s):RaytheonTechnologiesBreakdownofRaytheonTechnologiesCorporation'sexternalnetsalesinFY2023,byregion(inbillionU.S.dollars)RaytheonTechnologies-breakdownofnetsalesbyregion2023ExternalnetsalesinbillionU.S.dollars20,000

30,000010,00040,00050,00060,00057,53970,000UnitedStatesEurope4,849Other3,858Asia-Pacific2,182MiddleEastandNorthAfrica49216Description:Inthe2023fiscalyear,RaytheonTechnologiesCorporation'sexternalnetsalesreachedaround57.5billionU.S.dollarsintheUnitedStates.Inthatyear,theMassachusetts-headquarteredconglomeratealsogeneratedover4.8billioninnetsalesinEurope.ThecompanywasformedafterthemergerofUnitedTechnologiesCorporation(UTC)andRaytheonCompanyinApril2020.ReadmoreNote(s):Worldwide;FY2023;fiscalyearendsDecember31.Source(s):RaytheonTechnologiesRaytheonTechnologiesCorporation'soperatingprofitinFY2022,bysegment(inmillionU.S.dollars)RaytheonTechnologies-operatingprofitbysegment2022OperatingprofitinmillionU.S.dollars1,000

2,000

3,000-1,000Consolidated04,0005,0006,0007,0008,0009,000CollinsAerospaceSystemsRaytheonMissilesandDefenseFAC/CASoperatingadjustmentRaytheonIntelligenceandSpacePratt&WhitneyAcquisitionaccountingadjustmentsCorporateexpensesandotherunallocateditems17Description:RaytheonTechnologiesCorporationwasformedafterthemergerofUnitedTechnologiesCorporation(UTC)andRaytheonCompanyinApril2020.In2022,theMassachusetts-headquarteredconglomerategeneratedalmost2.58billionU.S.dollarsinoperatingprofitfromitsaerospaceanddefensesegment,CollinsAerospaceSystems.ReadmoreNote(s):Worldwide;FY2022;fiscalyearendsDecember31.Source(s):RaytheonTechnologiesNumberofRaytheonTechnologiesemployeesinFY2020,bymajorsegmentRaytheonTechnologies-employeesbymajorsegment2020Numberofemployees30,000

40,000010,00020,00050,00060,00070,00068,00080,000CollinsAerospaceRaytheonIntelligence&SpacePratt&Whitney37,00036,000RaytheonMissiles&Defense31,00018Description:ThisstatisticportraysthenumberofRaytheonTechnologiesemployeesinthe2020fiscalyear,withabreakdownbymajorsegment.ThePratt&Whitneysegmentreportedaround36,000employeesinthe2020fiscalyear.

ReadmoreNote(s):Worldwide;FY2020Source(s):RaytheonTechnologiesPratt&Whitney'snetsalesfromFY2010toFY2023(inmillionU.S.dollars)Pratt&Whitney'snetsales2010-202325,00020,90220,53019,39720,00015,00010,0005,000018,29618,15017,22416,16014,89414,50114,50813,96414,08212,71112,1502010201120122013201420152016201720182019202020212022202319Description:Pratt&Whitney'snetsalesfellfromover20.5billionU.S.dollarsin2022toaround18.3billionU.S.dollarsin2023.Pratt&WhitneyisasubsidiaryofRaytheonTechnologiesafterthemergerofUnitedTechnologiesCorporation(UTC)andRaytheonCompanyinApril2020.ReadmoreNote(s):Worldwide;FY2010toFY2023;fiscalyearendsDecember31.Source(s):RaytheonTechnologies;UnitedTechnologiesCorporationCHAPTER

04CompetitorsLeadingcompaniesworldwideintheareaofelevatorsandescalatorsin2023,basedonrevenue(inbillionU.S.dollars)Elevators&escalators:keycompaniesworldwidebasedonrevenue2023RevenueinbillionU.S.dollars0246810121416OtisSchindler14.2113.66Kone12.1MitsubishiElectricFujitec4.131.5121Description:In2023,Otisrankedastheworld'slargestelevatorsandescalatorsmanufacturerintermsofrevenue.Thatyear,Otisreportedarevenueof14.21billionU.S.dollars.Schindlerrankedsecondwitharevenueof13.66billionU.S.dollars.

ReadmoreNote(s):Worldwide;FY2023andFY2024Source(s):Varioussources(Companydata)LeadingaerospaceanddefensemanufacturersintheU.S.in2023,basedonrevenue(inbillionU.S.dollars)LeadingaerospaceanddefensemanufacturersintheU.S.2023TotalrevenueinbillionU.S.dollars0102030405060708090BoeingCo.RaytheonTechnologies*LockheedMartinCorp.GEAerospace76.4471.0169.6469.52GeneralDynamics43.1240.12NorthropGrummanCorp.BAESystemsPLC28.9Rolls-RoyceHoldingsPLCL3HarrisTechnologiesIncTextronInc.20.6420.1613.7922Description:In2023,BoeingCowasthelargestaerospaceanddefensemanufacturerintheUnitedStates,with76.44billionU.S.dollarsinrevenue.Thatyear,RaytheonTechnologiesgeneratedmorethan71billionU.S.dollarswhichmadethecompanythesecondlargestmanufactureronthelist.ReadmoreNote(s):UnitedStates;2023Source(s):FinancialTimes;LondonStockExchangeGeneralElectric'srevenuefromFY2015toFY2023(inbillionU.S.dollars)GeneralElectric-revenue2015-2023120103.399.2897.0110080604020094.4990.2276.5675.8374.267.9520152016201720182019202020212022202323Description:GeneralElectric’srevenuehasremainedstableduringthegivenperiod,despitethelastthreeyears.In2020,duetothecoronaviruspandemic,thetotalrevenueforGeneralElectric(GE)droppedto75.8billionU.S.dollarsandhadnotrecoveredby2022,whentherevenuereachedsome75.6billionU.S.dollars.In2023,theamountdecreasedto67.8billionU.S.dollars.Thiswasalsoduetotheseparationofthecompany'shealthcaresegment.GeneralElectriccompanyoverviewGeneral[...]

ReadmoreNote(s):Worldwide;FY2015toFY2023;fiscalyearendsDecember31ofeachyear.Source(s):GeneralElectricSiemensAG'srevenuefromFY2019toFY2022(inmillioneuros)SiemensAG-revenue2019-202280,00071,97770,00060,00050,00040,00030,00020,00010,000062,26558,48355,254201920202021202224Description:SiemensAGsawitsannualrevenueincreasefromaround62billioneurosin2021toalmost72billioneurosinthe2022fiscalyear.ReadmoreNote(s):Worldwide;FY2019toFY2022Source(s):SiemensSchindler'srevenuefromFY2007toFY2023(inbillionSwissfrancs)Schindler-revenue2007-2023161413.8141210811.4911.311.311.210.910.610.29.79.49.38.88.38.38.27.96420200720082009*2010201120122013201420152016201720182019202020212022202325Description:ThestatisticrepresentsSchindlerGroup'srevenuebetweenthefiscalyearof2007andthefiscalyearof2023.Inthefiscalyearof2023,theSwissmanufacturerofescalatorsandelevatorsgeneratedabout11.5billionSwissfrancsinrevenue.

ReadmoreNote(s):Worldwide;FY2007toFY2023;fiscalyearendsDecember31ofeachyear.;*RetrospectiveadjustmentduetoearlyadoptionofIAS19.Thefiguresfrom2007through2022weretakenfrompreviousannualreports.Thefigureshavebeen[...]

ReadmoreSource(s):SchindlerBoeing'sworldwiderevenuefromFY2007toFY2023(inmillionU.S.dollars)Boeing-worldwiderevenue2007-2023120,000100,00080,000101,12796,11493,496

94,00590,76286,62381,69877,79476,55968,28168,73566,38766,60864,30662,28660,90958,15860,00040,00020,00002007200820092010201120122013201420152016201720182019202020212022202326Description:In2023,Boeinggenerated77.8billionU.S.dollarsinrevenue.Thisamountwasmorethan66.8billionU.S.dollarsregisteredinthepreviousyear.Boeingisnowrankedasthesecond-largestaerospaceanddefensemanufacturercompanyintheworld,behindRaytheonTechnologies.ReadmoreNote(s):Worldwide;FY2007toFY2023Source(s):BoeingRevenueofthedefensetechnologysupplierLockheedMartinfrom2000to2023(inmillionU.S.dollars)RevenueofthedefensetechnologysupplierLockheedMartin2000-202375,00065,00055,00067,57165,98467,04465,39859,81253,76249,96047,29047,18246,49945,67145,35843,86741,37245,00035,00025,00015