Diversified business conglomerate
United Technologies Corp.
) was recently handpicked by
The Boeing Company
) to manufacture the landing gear for its fleet of the upcoming
Boeing 737 MAX. UTC Aerospace Systems, an operating unit of
United Technologies, is entrusted with the job of manufacturing
the aircraft parts that include the nose, main landing gear and
main gear side struts.
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The aircraft components are likely to be manufactured in several
assembly sites of UTC Aerospace Systems in North America and
Poland. Presently, Boeing boasts a healthy pipeline of 1,400
orders for 737 MAX, the first delivery of which is scheduled to
take place in 2017.
Over the years, UTC Aerospace Systems has been manufacturing
landing gears for several Boeing aircraft such as the Boeing
Next-Generation 737, 747, 767 and the 777. Therefore, the
contract is an extension of the long-serving business ties of
United Technologies with Boeing.
Based in Hartford, Conn., United Technologies provides high-end
technology products and services to the building systems and
aerospace industries worldwide. The company is a diversified
business conglomerate serving various end markets such as
aerospace, defense and commercial construction. The business
diversification allows the company to remain profitable amid
tough economic times.
The operations of the company are primarily classified into two
principal businesses: commercial and aerospace. Under its
commercial business, the company has Otis and the UTC Climate,
Controls & Security division, which combined the former
Carrier and UTC Fire & Security divisions. The aerospace
business of the company consists of Sikorsky aircraft and the UTC
Propulsion & Aerospace Systems, which includes UTC Aerospace
Systems and Pratt & Whitney divisions.
United Technologies presently has a Zacks Rank #2 (Buy). Other
notable companies in the industry include
Federal Signal Corp.
), both carrying a Zacks Rank #2 (Buy).