Federal IT Top 100 Rank: No. 10
Federal IT executive: Thomas Kennedy, president and chief executive officer
When it comes to cybersecurity, Raytheon is putting pedal to metal. The defense contractor’s strategy is to accelerate delivery of a unified, cloud-centric security platform to an expanding global customer base.
To that end, Raytheon recently appointed security specialist Matthew Moynahan as chief executive officer of Forcepoint, a organization created within Raytheon to drive its cyber business forward by embracing transformative cybersecurity technologies.
In addition to an intensifying focus on cyber, Raytheon's other main business sectors include missile defense, command, control and sensors, electronic warfare, precision weapons, workforce training, and “innovation,” or research and development.
Factoring out non-IT related revenue, IDC Government Insights estimates the company generated $1.45 billion in revenue from the sale of IT products and services to the federal government during the government’s fiscal year 2015, ranking it 10th in the 2016 Federal IT Top 100 rankings. (Read the full story here.)
In Raytheon’s long history, research and development has played a central role in shaping the company’s identity. Founded in 1922 by two former Tufts University engineering students, the company produced early innovations in power supplies, vacuum tubes, magnetron technology and transistors. Raytheon quickly moved to the forefront of innovation in the electronics industry.
While much of Raytheon’s business is concentrated in the defense and military markets, it has also contributed innovations in civilian products — including the microwave oven, which an Raytheon engineer developed after he realized a candy bar in his pocket melted when he stood in front of an active magnetron.
Among recent contracts, Raytheon was recently awarded a $365.8 million contract from the Navy to provide critical components for the Navy’s Aegis radar system. The contract combines purchases for the Navy and the governments of South Korea and Japan under the Foreign Military Sales program.
Raytheon also continues to expand its presence in the international government markets. Notably, Australia's Department of Defence recently selected Raytheon's ELCAN Optical Technologies division to supply the ELCAN weapon sight to Australia’s land forces. The $54 million contract award followed an open competition.
— Richard W. Walker