Raytheon Technologies CEO Greg Hayes said the company’s defense work will represent about 67 percent of sales in 2020, Inside Defense reported Monday.
The "defense businesses will generate about two-thirds of our sales this year; one-third will be commercial aero," Hayes said at a Morgan Stanley conference. "That's a little different than the balance we had originally thought, which was going to be somewhere around 50-50 or maybe 55-45 with defense in the lead."
He said the company plans to reduce its footprint to generate savings and is seeing opportunities in the international market, particularly in the Middle East.
"With peace breaking out in the Middle East to some extent — or at least a normalization of relations — we see opportunities on the international side to provide our partners over there with some of the same technology that we've been providing to the Kingdom of Saudi Arabia and Israel," Hayes said.