Diversified business conglomerate United Technologies Corp. (UTX - Free Report) was recently selected by Russian flagship airline service provider Aeroflot to manufacture some components for its upcoming fleet of The Boeing Company’s (BA - Free Report) 737-800 Next Generation aircraft.
UTC Aerospace Systems, an operating unit of United Technologies, is entrusted with the job of manufacturing wheels and carbon brakes for Aeroflot. The components will be supplied through UTC Aerospace Systems’ Wheels & Brakes business in Troy, Ohio. The first aircraft delivery is scheduled to commence from Sep 2013.
Carbon brakes manufactured by UTC Aerospace Systems use proprietary DURACARB carbon heat sink material for superior brake performance and increased life expectancy. In addition to increasing brake life by about 35%, these brakes reduce total weight of aircraft by approximately 318 kg (700 pounds) compared to steel brakes. Consequently, the new components are likely to reduce Aeroflot’s cost of ownership for Boeing’s Next Generation aircraft.
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 #3 (Hold). Other notable companies in the industry include ITT Corporation (ITT - Free Report) and Federal Signal Corp. (FSS - Free Report) , both carrying a Zacks Rank #2 (Buy).