United Technologies, the corporation behind aviation giants such as Pratt & Whitney and Sikorsky, is buying aircraft component maker Goodrich Corp. in a $16.5 billion deal that would be United Technology’s largest acquisition ever.
The move comes amidst a surge in demand for commercial aircraft, particularly from growing areas in Asia.
According to United Technologies CEO Louis Chenevert , the addition of Goodrich, which produces parts for a variety of aircraft, including the recently certified Boeing 787 Dreamliner, will provide a complement to his company’s existing presence in the aviation sector.
“This acquisition further strengthens our position in the growing commercial aerospace market and enhances our ability to support our customers with more integrated systems,” he said in a company press release announcing the deal.
Market analysts say the deal could be one of the first in a potential wave of increased consolidation of the defense sector, as governments roll back defense spending in the years to come.
