Honeywell starts new business unit to enter drone industry

Major supplier of aerospace products, Honeywell International Inc. announced on Monday that it will launch a new business unit to enter the . The new department will focus on the autonomous aviation space, including drones, air taxis, unmanned cargo delivery vehicles.

Honeywell to enter the drone industry

Honeywell’s head of the new drone business, Stéphane Fymat says that the company expects the hardware and software market for urban air taxis, drone cargo delivery, and other drone businesses to reach an estimated US$120 billion by 2030. Honeywell’s opportunity would be 20% of that market and has dedicated hundreds of employees, many of whom have an engineering degree to capture that opportunity.

Major Supplier Of Aerospace Products, Honeywell International Inc. Announced On Monday That It Will Launch A New Business Unit To Enter The Drone Industry.

Fymat said that the new business creation is a direct result of the pandemic that increased the demand for drone deliveries.

Honeywell Starts New Business Unit To Enter Drone Industry 1

Honeywell’s corporate venture capital department is also one of the financial backers of in Santa Monica whose offices recently burned down during protests.

“We’re not trying to bet on who’s going to have the best drone. We want to sell to everyone’s drones,” said Murray Grainger, head of Honeywell Ventures.

Honeywell is specifically working on a system that can help unmanned aircraft navigate the ‘urban canyons’ where GPS systems typically don’t work well, according to Reuters.

Major Supplier Of Aerospace Products, Honeywell International Inc. Announced On Monday That It Will Launch A New Business Unit To Enter The Drone Industry.

 

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Haye Kesteloo

Haye Kesteloo is the Editor in Chief and Founder of DroneXL.co, where he covers all drone-related news, DJI rumors and writes drone reviews, and EVXL.co, for all news related to electric vehicles. He is also a co-host of the PiXL Drone Show on YouTube and other podcast platforms. Haye can be reached at haye @ dronexl.co or @hayekesteloo.

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