Marriott International Inc (MAR), United Technologies Corporation (UTX): New Frontiers in American Business

The whirlybird takes off

Igor Sikorsky conducted the first public demonstration of his experimental helicopter, the VS-300, on May 20, 1940. Working for United Aircraft (now United Technologies Corporation (NYSE:UTX)), Sikorsky had been plugging along on a shoestring budget of just $30,000 for two years to develop what became the first practical helicopter flown in the U.S. After numerous tweaks, several near-catastrophes, and a whole lot of elbow grease, Sikorsky tugged on a “crash helmet” (that is, a jaunty fedora), lifted straight up in the air, and hovered about 30 feet off the ground for a group of aviation journalists and other important guests. The age of the helicopter had arrived.

Today, helicopters have become an important link in the global aviation chain, with an estimated $18 billion annual market size. By the 2020s, the world may release another 24,000 helicopters worth roughly $250 billion into the skies, with 75% of that total meant for civilian use. Sikorsky, the helicopter-making aircraft subsidiary of United Technologies Corporation (NYSE:UTX), no longer leads the market in the machine it helped create. Eurocopter, a subsidiary of Dutch EADS, leads the pack, frequently accounting for at least half of the global civilian ‘copter market. Sikorsky doesn’t even get runner-up status: That prize generally goes to Bell, a subsidiary of Textron Inc. (NYSE:TXT) , which is a leader in serving the oil and gas industry and its many offshore drilling rigs.

The article New Frontiers in American Business originally appeared on Fool.com and is written by Alex Planes.

Fool contributor Alex Planes holds no financial position in any company mentioned here. Add him on Google+ or follow him on Twitter @TMFBiggles for more insight into markets, history, and technology.The Motley Fool owns shares of Textron.