According to the Pentagon, United Technologies Corp. (UTX) has been awarded a $1.7 billion U.S. Air Force contract for engines for Boeing Co C-17 military transport aircraft. Up to 208 Pratt & Whitney F-117 engines may be acquired under this contract.

Pratt & Whitney is turning its attention to the wider applications of a technology that offers a 12- to 15-percent improvement in fuel burn by allowing the engine fan and low-pressure turbine to operate at optimum speeds.

The area with the most potential sales would be a 20,000- to 30,000-pound-thrust engine for next-gen narrowbodies, although in that market segment P&W currently operates through its International Aero Engines (IAE) joint venture with Rolls-Royce, MTU and Japanese Aero Engines Corp.

The other area it would work on is the overall pressure ratio of the core, with higher pressure ratio high-pressure compressor stages, and it would continue to work on advanced materials.

United Technologies provides technology products and services to the building systems and aerospace industries worldwide. Its Otis segment designs and manufactures escalators, moving walkways, and passenger and freight elevators. The company’s Pratt & Whitney segment supplies aircraft engines for the commercial, military, business jet, and general aviation markets; industrial gas turbines; space propulsion systems; and spare parts, as well as provides fleet management services, and maintenance, repair, and overhaul services.

The company was founded in 1934 and is based in Hartford, Connecticut. Its major competitors are Boeing Co. (BA) and General Electric Co. (GE).

We currently have a Neutral recommendation on UTX.

Zacks Investment Research

1. (UTX) United Technologies Corporation’s Chairman RetiresUnited Technologies Corporation (UTX) announced George David, 67, will retire as Chairman of the Board...
2. ($UTX) United Technologies’ Pratt & Whitney Cuts JobsJet engine maker Pratt & Whitney said it plans to eliminate 1,000 jobs in Connecticut...
3. (UTX) United Technologies’ Sikorsky Wins New Helicopter ContractUnited Technologies Corp.’s (UTX) subsidiary Sikorsky Aircraft Corp. recently received a $73.2 million contract from the...
4. (UTX) United Technologies’ Pratt & Whitney Gets Government IncentivesThe governor of Connecticut has offered $100 million worth of incentives to jet engine manufacturer...
5. (UTX) Pratt & Whitney Engines on the Space Shuttle DiscoveryThree Pratt & Whitney Rocketdyne Space Shuttle Main Engines (SSME) successfully powered the launch of...
6. (UTX) United Technologies Trys to Reduce F-35 Engine CostsUnited Technologies Corp.‘s (UTX) Pratt & Whitney unit recently announced that it was investing substantially...

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