United Technologies (UTC) has said that its board of directors approved a review of strategic alternatives for its Sikorsky aircraft, which could include potential sale of the unit.

The company, known for the production of Black Hawk helicopters, generated $7.5bn revenue from Sikorsky products.

Based in Hartford, Connecticut, UTC specialises in providing high technology products and services to building and aerospace industries.

UTC expects to conclude its strategic review before the end of 2015. However, the company said it has not taken any decision on the timing or terms of any transaction.

"Based in Hartford, Connecticut, UTC specialises in providing high technology products and services to building and aerospace industries."

UTC president Gregory Hayes said: "As part of the portfolio review announced last December, we are exploring strategic options for Sikorsky to determine the best way to enhance its long-term success and create improved long-term value for UTC’s customers and shareholders."

Sikorsky is considered to be the world’s largest helicopter makers. It manufactures military and commercial helicopters and is the Pentagon’s largest helicopter supplier by value.

Mr Hayes said: "Looking to the future, we are evaluating whether Sikorsky’s unique business as a rotorcraft OEM with a predominately military customer base is best positioned as a stand-alone company, and whether a separation would allow United Technologies to better focus on providing high-technology systems and services to the aerospace and building industries."

Established in 1925 by Igor Sikorsky on New York’s Long Island and later acquired by UTC, Sikorsky is the company’s smallest division by revenue.

Hayes was reported by Reuters saying that sale of the Sikorsky helicopter unit would be ‘very hard’, as it could face heavy tax liability. He also added the company is planning to invest $1bn to buy new assets or could look for bigger deals.

In addition, Hayes was quoted by Reuters saying: "We’re going to look for the bigger deals, and $5 billion is a pretty big deal."