A megamerger of an aerospace and defence company reflects the changing defence industry under rising political tensions
voice and physique of a former American-football player, Greg Hayes, boss of United Technologies Corp
Some critics say it bodes ill if two firms with apparently strong stand-alone businesses have to cling together for survival. Sceptics, besides worrying about the business logic, feel that Mr Hayes may be biting off more than he can chew. He aims to spin off’s lift business, Otis, and temperature-control firm, Carrier, early next year before completing the merger. Andis still integrating a new avionics business after buying Rockwell Collins for $30bn last year.
The nature of spending is also changing, as fancy kit for intelligence, surveillance and other stealthy warcraft is given higher priority. Kara Frederick of the Centre for a New American Security, a think-tank, recalls that when she served as an intelligence officer in Afghanistan, for instance, the focus was terrorism; if you sent up a drone, there was little risk of having an enemy intercept its communications system. “The Taliban didn’t even have an air force.
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