Since decades companies in the US have led the way for a broad spectrum of innovative aerospace and defence products and services. Browse through the fifth part of the article to know about Textron Incorporated, the world’s best known multi-industry company.

One of the world’s best known multi-industry companies, Textron Incorporated was founded in 1923 and had its origins in the textile industry dealing with cotton and synthetic yarn. And this is where it got its name. But over the years it has developed into a diversified business model serving a wide global customer base. Today, it is acknowledged as a highly successful enterprise recognised for its network of powerful brands, world-class processes and talented workforce. The company has over 37,000 employees in more than 25 countries and a revenue of $14.7 billion (Rs. 65,520 crore) as recorded in 2008. With its headquarters in Providence, Rhode Island, USA, Textron is ranked 220 on the Fortune 500 list of largest companies in the US and is strategically positioned to provide integrated product solutions and services to the customers worldwide.

Textron has a number of subsidiaries and operating divisions that deal in unmanned aircraft systems, advanced marine craft, armoured vehicles, surveillance systems, intelligence software solutions, precision guided and smart weapons, piston engines, test and training systems and life cycle support.

In 1960, Textron purchased Bell Aerospace which comprised three divisions of Bell Aircraft Corporation including its helicopter division which was the only division producing complete aircraft. The helicopter division was renamed by Textron as Bell Helicopter Company. In a few years with the success of the UH-1 during the Vietnam War, it had established itself as the largest division of the parent company. In January 1976, Textron renamed the company Bell Helicopter Textron, a name that it has today. Since its inception, this company has produced rotary wing machines in large numbers for both military and civil application.

In February 1985, Textron acquired Avco Corporation of Connecticut, a conglomerate of almost equal size with pre-acquisition revenue of $2.9 billion (Rs. 13,050 crore) doubling the size of the company practically overnight. In the early 1990s, Textron acquired Cessna Aircraft Company, a global leader in light and medium-sized commercial business jets and piston engine general aviation aircraft. With this acquisition, Cessna balanced Bell’s predominantly defence related business. Textron continued to make acquisitions to strengthen its strategic portfolio and five of the new acquisitions were grouped as Textron Systems Corporation.

Textron Systems Corporation

Textron Systems Corporation, a business division under Textron Incorporated, is an aerospace and defence development and manufacturing firm with its headquarters in Wilmington, Massachusetts, USA. With around 6,000 employees, it controls five operating units including AAI Corporation, Lycoming Engines, Overwatch, Textron Defence Systems and Textron Marine & Land Systems. Providing innovative solutions to the defence, homeland security and the aerospace industry for over five decades, Textron Systems reported annual sales of nearly $2 billion (Rs. 9,000 crore) in 2009.