United Technologies Corp was incorporated in Delaware in 1934. The Company provides high technology products and services to the building systems and aerospace industries. It conducts its business through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney; and UTC Aerospace Systems. The Otis is an elevator and escalator manufacturing, installation and Service Company. Otis designs, manufactures, sells and installs a range of passenger and freight elevators for low-, medium- and high-speed applications, as well as a broad line of escalators and moving walkways. In addition to new equipment, Otis provides modernization products to upgrade elevators and escalators as well as maintenance and repair services for both its products and those of other manufacturers. Otis serves customers in the commercial and residential property industries around the world. UTC Climate, Controls & Security segment provides heating, ventilating, air conditioning and refrigeration solutions, including controls for residential, commercial, industrial and transportation applications. It also provides electronic security products such as intruder alarms, access control systems and video surveillance systems and designs and manufactures fire safety products including specialty hazard detection and fixed suppression products, portable fire extinguishers, and fire detection and life safety systems. Pratt & Whitney is a supplier of aircraft engines for the commercial, military, business jet and general aviation markets. Pratt & Whitney provides maintenance, repair and overhaul services, including the sale of spare parts, as well as fleet management services for commercial engines. Pratt & Whitney produces families of engines for narrow-body aircraft in the commercial and military markets. Pratt & Whitney Power Systems sells aero-derivative engines for industrial applications. UTC Aerospace Systems provides technologically advanced aerospace products and aftermarket service solutions for aircraft manufacturers, airlines, regional business and general aviation markets, military, space and undersea operations. Its products portfolio includes electric power generation, power management and distribution systems, air data and flight sensing and management systems, and engine control systems. Its aftermarket services include spare parts, overhaul and repair, engineering and technical support and fleet management solutions. The Company's operations are subject to and affected by environmental regulation by federal, state and local authorities in the United States and regulatory authorities with jurisdiction over its foreign operations.