Honeywell International Inc. (Honeywell) is a global integrated operating company serving diverse industries. Honeywell blends physical products with software to provide solutions in aerospace, building technologies, performance materials and technologies, and safety and productivity solutions. These solutions contribute to a safer, more comfortable, and productive world. The company was founded in 1906 and incorporated in Delaware in 1985.

Competitive Advantages: Honeywell's portfolio is uniquely positioned to address megatrends like automation, future of aviation, and energy transition, all underpinned by digitization. The company leverages the Honeywell Accelerator operating model for growth, margin expansion, and cash generation.

Key Markets and Geographic Presence: Honeywell serves a broad range of industries and geographies worldwide.

• Employees: 95,000 (as of December 31, 2023)
• Geographic Footprint: 79 countries
• Headquarters: Charlotte, North Carolina
• Founded: 1906 (Brand), Incorporated 1985
• Number of locations/facilities: 715 (194 manufacturing sites)
• Revenue: $36.7 billion (FY2023)
• Market Capitalization: $137.8 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Honeywell (primary brand), Quantinuum

• CEO: Vimal Kapur (since June 2023)
• CFO: Gregory P. Lewis (since August 2018)
• Board Chair: Darius E. Adamczyk
• Other Key Executives: Lucian Boldea (President and CEO, Industrial Automation), Jim Currier (President and CEO, Aerospace Technologies), Kevin Dehoff (President and CEO, Connected Enterprise), Billal M. Hammoud (President and CEO, Building Automation), Anne T. Madden (Senior Vice President and General Counsel), Karen Mattimore (Senior Vice President and Chief Human Resources Officer), Ken West (President and CEO, Energy and Sustainability Solutions)

• Annual Revenue: $36.7 billion (FY2023)
• Net Income: $5.7 billion (FY2023)
• Market Cap: $137.8 billion (as of June 30, 2023)
• Total Assets: $61.5 billion (FY2023)
• Number of employees: Approximately 95,000 (as of December 31, 2023)
• Key Financial Highlights (FY2023): Sales growth of 3%, Operating cash flow of $5.3 billion, Backlog of $31.8 billion

Honeywell offers a diverse range of products and services across its business segments:

• Aerospace: Aerospace products and services include auxiliary power units, propulsion engines, environmental control systems, integrated avionics, wireless connectivity services, and more. Honeywell Forge solutions provide predictive maintenance and analytics for better fleet management.
• Honeywell Building Technologies: Products and services include building control and optimization software, energy management systems, access control, video surveillance, fire products, and installation and maintenance services. Honeywell Forge solutions offer digital building management.
• Performance Materials and Technologies: This segment provides performance chemicals and materials, process technologies, and automation solutions. Offerings include automation control, instrumentation, software, and services for various industries, process technology for refining and petrochemicals, and advanced materials. Honeywell Forge solutions enable integration and connectivity for improved productivity and cybersecurity.
• Safety and Productivity Solutions: This segment offers products and software for productivity, workplace safety, and asset performance. Offerings include personal protective equipment, gas detection technology, mobile devices and software, and warehouse automation solutions. Honeywell Forge solutions automate processes for improved efficiency and safety.

Honeywell operates through four reportable business segments:

• Aerospace: Revenue: $13.6 billion (FY2023)
• Honeywell Building Technologies: Revenue: $6.0 billion (FY2023)
• Performance Materials and Technologies: Revenue: $11.5 billion (FY2023)
• Safety and Productivity Solutions: Revenue: $5.5 billion (FY2023)

Effective Q1 2024, the segments will be realigned to Aerospace Technologies, Industrial Automation, Building Automation, and Energy and Sustainability Solutions.

Honeywell's current strategy focuses on creating long-term shareholder value by leveraging the Honeywell Accelerator operating model (version 3.0 launched in 2023). The company is standardizing its organization across its four business models (products, aftermarket services, projects, and software) and facilitating knowledge transfer to drive growth. Honeywell is also completing the buildout of its IT platforms and implementing digital threads to enhance business performance.

Growth Strategies: Honeywell aligns its businesses with three megatrends: automation, future of aviation, and energy transition, all supported by digitization. The company pursues growth through acquisitions and divestitures, focusing on strategic acquisitions aligned with these megatrends.

Innovation and Future Outlook: Honeywell is committed to deploying capital to high-return opportunities and maintaining a robust backlog to support future growth.

Honeywell operates in various industries related to aerospace, building technologies, performance materials and technologies, and safety and productivity solutions. The company faces competition in all its product and service areas from established players like RTX Corporation, Safran, Thales, Carrier Global, Johnson Controls, Schneider Electric, Siemens, Emerson Electric, Haldor Topsoe, Rockwell Automation, 3M, TE Connectivity, Kion Group, and Zebra Technologies.

Market Trends: Honeywell is impacted by macroeconomic conditions, geopolitical events, and industry-specific trends such as supply chain disruptions, inflation, and evolving regulations.

• Macroeconomic and Industry Risks: Fluctuations in demand across various segments (aerospace, building technologies, performance materials, and safety and productivity solutions) due to economic downturns, changes in customer spending, and geopolitical events.
• International Operations Risks: Exposure to economic, political, and regulatory risks in non-U.S. jurisdictions, including foreign exchange fluctuations and supply chain disruptions.
• Operational Risks: Potential disruptions to operations due to raw material price fluctuations, supplier issues, cybersecurity attacks, and natural disasters.
• Legal and Regulatory Risks: Potential impact of changes in legislation, government regulations, and increased focus on ESG matters.
• Cybersecurity Risks: Potential for cyberattacks on IT infrastructure and products, which could lead to financial loss, reputational damage, and legal liabilities.