Honeywell splits into 3 companies; aerospace headquarters to stay in Phoenix
Honeywell Aerospace will become a separate company with its headquarters still in Phoenix, officials confirmed after details of its parent company's breakup were announced Thursday morning.
Honeywell International Inc. planned to spin off its aerospace and automation technologies, the company said. The industrial conglomerate already had announced it would spin off its advanced materials arm. The moves would create three separate companies.
Honeywell International Inc. has 7,111 employees in Arizona, according to The Arizona Republic's Republic 100 data of the largest employers in the state, making it the 25th largest employer here.
The company plans to complete the separation by the second half of 2026, and it will be done in a manner that is tax-free to Honeywell shareholders, Vimal Kapur, chairman and CEO announced. Each of the three companies would be publicly listed.
"The formation of three independent, industry-leading companies builds on the powerful foundation we have created, positioning each to pursue tailored growth strategies, and unlock significant value for shareholders and customers," Kapur said in a statement.
"Our simplification of Honeywell has rapidly advanced over the past year, and we will continue to shape our portfolio to create further shareholder value. We have a rich pipeline of strategic bolt-on acquisition targets, and we plan to continue deploying capital to further enhance each business as we prepare them to become leading, independent public companies," he added.
Honeywell Aerospace creates technology used in commercial and defense aircraft, including propulsion, cockpit and navigation systems and auxiliary power systems. According to Honeywell, it had $15 billion in revenue in 2024.
The spinoff could create future job opportunities for employees as the individual companies grow, a company representative said.
This is a developing story. Check back here for updates.
Reach the reporter at cvanek@arizonarepublic.com. Follow her on X, formerly Twitter: @CorinaVanek.
This article originally appeared on Arizona Republic: Honeywell to split into 3 companies with Phoenix aerospace HQ to stay
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Honeywell Finalizes Sundyne Acquisition to Boost Its Process Industry Strength
Honeywell International Inc. (NASDAQ:HON) is one of the best Dow stocks to invest in. On June 9, the company announced that it had finalized its $2.16 billion all-cash acquisition of Sundyne from private equity firm Warburg Pincus. Sundyne, known for its advanced pumps and gas compressors used in process industries, is expected to contribute immediately to Honeywell International Inc. (NASDAQ:HON)'s revenue growth, segment margins, and adjusted earnings per share during the first full year of ownership. Sundyne brings strong customer relationships and top-tier technology, which are expected to enhance Honeywell UOP's presence in areas like refining, petrochemicals, LNG, and clean energy. Integrated with the Honeywell Forge platform, the combined offering strengthens Honeywell's position in the energy transition by providing a comprehensive, scalable solution. This acquisition comes on the heels of Honeywell International Inc. (NASDAQ:HON)'s recent announcement to spin off its Aerospace Technologies and Solstice Advanced Materials units, moves aimed at creating three separate publicly traded companies, each with focused strategies and growth opportunities. Since December 2023, Honeywell has pursued several strategic initiatives to boost organic growth and streamline its operations, including $13.5 billion in value-enhancing acquisitions. The company operates globally across a wide range of industries. HON has surged by over 7% in the past 12 months. While we acknowledge the potential of HON as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11 hours ago
- Yahoo
Avionics Market Systems, 2030: Navigation, Payload & Mission Management, Traffic and Collision Management, Communication, Weather, Power & Data Management, Flight Management, Electronic Flight Display
The avionics market is set to expand from USD 56.22 billion in 2025 to USD 82.33 billion by 2030 at a CAGR of 16.8%, driven by increasing demand for advanced aircraft systems. Commercial aviation will lead the market, aided by advancements in navigation systems and evolving air traffic management, such as SESAR and NextGen. North America is expected to dominate, benefiting from significant defense investments and a focus on avionics retrofits. Key players like RTX, Honeywell, L3Harris, GE, and Thales are advancing technologies, enhancing safety and efficiency. For market insights, the report covers competitive analysis, growth strategies, and recent innovations. Dublin, June 11, 2025 (GLOBE NEWSWIRE) -- The "Avionics Market Systems (Navigation, Payload & Mission Management, Traffic and Collision Management, Communication, Weather Detection, Power & Data Management, Flight Management, Electronic Flight Display), Platform, Fit and Region - Forecast to 2030" has been added to offering. The global avionics market is poised for substantial growth, expected to increase from USD 56.22 billion in 2025 to USD 82.33 billion by 2030, with a CAGR of 16.8%. The extensive study aims to estimate market size and growth potential across various segments, analyzing key players, their business offerings, developments, and growth strategies. It serves market leaders and new entrants by estimating revenue projections for the avionics market and its subsegments, helping stakeholders grasp the competitive landscape and devise effective market strategies. The report highlights critical market drivers, challenges, and opportunities, aiding stakeholders in understanding current market dynamics. This growth is primarily driven by the demand in commercial and defense sectors for modernized, efficient aircraft. Airlines are actively upgrading old fleets with contemporary avionics systems to adhere to regulatory standards and enhance fuel efficiency. Additionally, the steady uptick in new aircraft production worldwide, combined with rising air traffic and the need for real-time data and automation, are significant factors encouraging investment in advanced avionics systems. Commercial Aviation Driving the Avionics Market Commercial aviation is anticipated to be the dominant segment in the avionics market during the forecast period. Key industry players are focused on developing advanced systems within this sector to capitalize on market opportunities. The evolution of air traffic management systems, propelled by initiatives like SESAR in Europe and NextGen in the US, demands avionics systems capable of supporting streamlined operations. Furthermore, the emphasis on passenger comfort and entertainment fuels the demand for enhanced in-flight entertainment and connectivity solutions. Navigation Systems: A Key Market Shareholder Navigation systems are expected to capture the highest market share during the forecast period. With advancements in global navigation satellite system (GNSS) technologies, there is an increased demand for avionics systems that brandish precise and reliable navigation solutions. The focus on terrain awareness for improved safety continues to drive the need for sophisticated terrain awareness and warning systems (TAWS). Integration of communication and navigation functions is vital for promoting efficient flight operations. North America: A Pivotal Market Player North America is projected to lead the avionics market, supported by robust defense budgets that facilitate military aircraft modernization with advanced avionics. A significant portion of the North American fleet is focused on avionics upgrades and retrofits, ensuring compliance with evolving regulations. Industry leaders like Boeing and Airbus perpetually invest in cutting-edge aircraft, opening avenues for advanced avionics solutions that offer enhanced capabilities. Strategic collaborations between avionics manufacturers and aerospace giants further stimulate market growth. Industry Insights and Market Breakdown Insights gleaned from a diverse pool of industry experts, spanning component suppliers to OEMs, contribute to understanding the market landscape. Breakdown data includes company types with Tier 1 constituting 35%, Tier 2 at 45%, and Tier 3 holding 20%. In terms of designation, C Level represents 35%, Director Level 25%, while others make up 40%. Regional distribution includes North America at 25%, Europe 15%, Asia Pacific 45%, Latin America 10%, Middle East 5%, and the Rest of the World 5%. Leading market players include RTX (US), Honeywell International Inc. (US), L3Harris Technologies, Inc. (US), General Electric Company (US), and Thales (France). Market Dynamics Drivers Rising Aircraft Production Growing Fleet of Commercial and Military Aircraft Increasing Adoption of Flight Management and Advanced Aircraft Computing Systems Need for Enhanced Safety and Situational Awareness in Aircraft Challenges Complexity of Modern Avionics Systems Risk of Technological Obsolescence Vulnerability to Cyber Threats Opportunities Integration of Artificial Intelligence in Avionics Systems Advent of Advanced Connectivity Solutions Incorporation of Airborne Collision Avoidance Systems in General Aviation Aircraft Company Profiles General Electric Company Honeywell International Inc. RTX L3Harris Technologies, Inc. Thales Curtiss-Wright Corporation Elbit Systems Ltd. Northrop Grumman BAE Systems PLC Garmin Ltd. Transdigm Group Leonardo Spa Astronautics Corporation of America Meggitt PLC Safran SA Uavionix Avidyne Corporation Aspen Avionics Inc. Dynon Avionics Inc. Kanardia Doo Talos Avionics Taskem Corporation Anodyne Electronics Manufacturing Becker Avionics GmbH Shadin Avionics For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Yahoo
15 hours ago
- Yahoo
Personal Protective Equipment (PPE) Market Analysis and Forecast to 2030: Emerging Markets and Opportunities
Europe ranks second in PPE market value, driven by robust industries and stringent standards. Key players include Honeywell, 3M, and DuPont. The report offers insights into market drivers, technology innovations, and competitive strategies. Personal Protective Equipment Market Dublin, June 11, 2025 (GLOBE NEWSWIRE) -- The "Personal Protective Equipment Market by Type, End-use Industry, & Region - Global Forecast to 2030" has been added to offering. The global personal protective equipment (PPE) market is on track to grow from USD 56.64 billion in 2024 to USD 77.66 billion by 2030, exhibiting a CAGR of 5.49%. The increasing stringency of safety regulations and a heightened emphasis on worker well-being are accelerating market growth. Adoption is further fueled by regulatory compliance with OSHA, ISO, and regional safety standards. Technological advancements in PPE are enhancing performance and sustainability, propelling market expansion alongside worldwide industrialization. Protective Clothing Segment Growth In 2024, protective clothing represented the second-largest market segment within the PPE industry. Its growth is attributed to superior performance in demanding environments, with significant applications in sectors requiring flame-resistant, chemical-protective, or high-visibility apparel. The robust demand across manufacturing, healthcare, and oil & gas underpins a shift toward high-performance PPE solutions. Despite the dominance of hand & arm protection, protective clothing is rapidly gaining traction, bolstered by infrastructure development and safety awareness. Oil & Gas Industry Demand By value, the oil & gas sector ranked as the third-largest end-use industry for PPE in 2024. The need for comprehensive safety gear in exploration, drilling, refining, and transport operations underpins this ranking. High-risk operations necessitate protective clothing, respiratory gear, and face masks, fostering sustained PPE demand supported by ongoing industrial investments. Regional Market Dynamics Europe was the second-largest market region for PPE in 2024, driven by a strong industrial base and rigorous safety standards across key industries. The region's focus on risk management prompted the adoption of advanced PPE, particularly in Germany, France, and the UK. Although Western Europe faces market saturation, Europe's overall market value remains second, trailing North America but surpassing Asia Pacific. Research Coverage This market report offers segmentation based on type, end-use industry, and geographic region, complete with value estimations across these parameters. Analytical insights into key players provide context on business strategies and market positioning within the PPE domain. The report profiles key market players, including Honeywell International Inc. (US), 3M Company (US), DuPont de Nemours, Inc. (US), Ansell Limited (Australia), MSA Safety Incorporated (US), Lakeland Industries, Inc. (US), Delta Plus Group (France), Alpha Pro Tech, Ltd. (Canada), Sioen Industries NV (Belgium), Radians, Inc. (US), and Protective Industrial Products, Inc. (US). Key Report Insights: Market Penetration: Insights into PPE offerings by major market players. Analysis of Drivers, Restraints, Opportunities: Evaluating workplace safety awareness, regulatory frameworks, and emerging economy dynamics impacting market growth. Product Development/Innovation: Exploration of new technologies, R&D endeavors, and product launches. Market Development: Analysis of emerging markets and opportunities in PPE. Market Diversification: Insights on new products, untapped regional markets, and recent industry advancements. Competitive Assessment: Detailed examination of strategies, product portfolios, and capabilities of leading market entities. Key Attributes Report Attribute Details No. of Pages 277 Forecast Period 2024-2030 Estimated Market Value (USD) in 2024 $56.64 Billion Forecasted Market Value (USD) by 2030 $77.66 Billion Compound Annual Growth Rate 5.4% Regions Covered Global Market Dynamics Drivers Rising Awareness About Importance of Workplace Safety Stringent Regulations in Developed Countries Industrial Growth in Asia-Pacific and Middle East & Africa Restraints Increased Automation in End-use Industries Lack of Awareness in Developing Countries Opportunities Growing Healthcare Industry in Emerging Economies Development of New Materials and Technologies Challenges Need for Increased Comfort and Multi-Functionality Companies Profiled Honeywell International Inc. DuPont de Nemours, Inc. 3M Company Ansell Limited MSA Safety Incorporated Lakeland Industries, Inc. Alpha Pro Tech, Ltd. Sioen Industries Nv Radians, Inc. Delta Plus Group Protective Industrial Products, Inc. Moldex-Metric Klein Tools, Inc. Mallcom India Limited National Safety Apparel Uvex Group Gateway Safety Saf-T-Gard International, Inc. Lindstrom Group Dragerwerk AG & Co. KGaA Avon Technologies PLC Polison Corporation Pan Taiwan Enterprise Co. Ltd. Cofra S.R.L. JSP Ltd. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Personal Protective Equipment Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
