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United Technologies is a diversified industrial company operating out of four segments. These include Pratt & Whitney (commercial and military aerospace), Collins Aerospace Systems (aerospace systems), Otis (elevators and escalators), and Carrier (HVAC, refrigeration, and fire and security). UTC completed the acquisition of Rockwell Collins in November 2018, creating one of the aerospace industry's largest installed bases. In late 2018, the company announced its intent to split its aerospace and commercial platforms. UTC will remain an aerospace company and will retain both Pratt & Whitney, most known for its flagship geared turbofan engine, and Collins Aerospace Systems. UTC will also spin off both Otis and Carrier and later merge with Raytheon sometime during the front half of 2020.
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