Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

HONEYWELL INTERNATIONAL INC.

(HON)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Honeywell International : DENSO, Honeywell Ascend Into Urban Air Mobility With Expanded Alliance; Collaboration will enable development, testing and flying of electric propulsion systems for UAM segment

05/24/2021 | 11:38am EDT

SOUTHFIELD, Mich., and PHOENIX - DENSO, a leading mobility supplier, has signed a long-term agreement with aerospace leader Honeywell (NASDAQ: HON), establishing an alliance focused on electric propulsion units to meet new aerospace needs.

Drawing from their automotive and aerospace backgrounds, the companies will develop and manufacture electric propulsion systems for aircraft, initially prioritizing the urban air mobility (UAM) segment with a focus on air taxis and delivery vehicles.

DENSO and Honeywell are in advanced discussions with current and prospective customers and intend to deliver flight test configurations of the electric propulsion systems within the next year. This focus on electrified power sources will not only help the companies fulfill UAM's promise of providing cleaner, safer, more efficient, quieter and freer-moving transportation in and between cities, but also strengthen each company's efforts to achieve carbon neutrality by 2035.

UAM providers interested in learning more about the companies' electric propulsion systems can connect with the DENSO-Honeywell team here.

'Mobility needs are changing, and this collaboration represents how DENSO is evolving to meet them,' said Jiro Ebihara, a senior executive officer and head of the Electrification Systems Business Group at DENSO Corporation. 'While we have committed to achieve a carbon-neutral society, we still need to reduce traffic and offer eco-friendly movement in population-dense areas. Working with Honeywell will help address both these issues and furthers our goal of creating mobility that is green and offers peace of mind.'

The formal alliance follows the companies' initial teaming agreement in 2019. DENSO's ability to produce quality components at mass scale paired with Honeywell's storied aerospace expertise make for an alliance ready to take UAM to new heights. Additionally, the alliance's electric propulsion systems will integrate seamlessly with Honeywell's fly-by-wire, avionics and actuation systems, extracting the most thrust and lift from every watt of electricity.

'Honeywell technologies have helped power human flight for more than 100 years, and as electric propulsion for aircraft takes shape, Honeywell will be at the forefront with partners like DENSO,' said Dave Marinick, president, Engines & Power Systems, Honeywell Aerospace. 'DENSO's leadership in automotive technology combined with our experience in Aerospace will help bring about cleaner and smarter ways for people to move throughout the world.'

Honeywell is one of the world's leading makers of electronics, engines and mechanical systems for aircraft. Its systems fly on virtually every airliner in the sky, along with thousands of business jets and light aircraft. DENSO, meanwhile, develops advanced technology and components for nearly every make and model of road vehicle in existence today.

The alliance with Honeywell enhances DENSO's Second Founding, the company's strategy to provide value beyond a vehicle-centric focus and produce the core technologies for future mobility. It also bolsters DENSO's two great causes: 'Green' - acting environmentally friendly - and 'Peace of Mind' - creating a safer and more seamless world for all. These guide DENSO as it leverages its 30-plus years of electrification know-how to create cleaner, more efficient mobility and will help the company reach its 2035 goal to be carbon neutral. Honeywell has also pledged to be carbon neutral in its facilities and operations by 2035.

The two companies will work together to seek customers who can help transform how the world moves, making transportation safer, more sustainable and efficient.

About DENSO

DENSO is a $44.6 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 200 facilities to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 168,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 10.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2021. For more information about global DENSO, visit https://www.denso.com/global.

In North America, DENSO is headquartered in Southfield, Michigan, and employs 27,000+ engineers, researchers and skilled workers across 51 sites in the U.S., Canada and Mexico. In the United States alone, DENSO employs 17,700+ employees across 14 states (and the District of Columbia) and 41 sites. In fiscal year ending March 31, 2021, DENSO in North America generated $9.3 billion in consolidated sales. DENSO is committed to advancing diversity and inclusion inside the company and beyond - a principle that brings unique perspectives together, bolsters innovation and pushes DENSO forward. Join us, and craft not only how the world moves, but also your career: densocareers.com. For more information, go to https://www.denso.com/us-ca/en/.

About Honeywell

Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft. The Aerospace business unit builds aircraft engines, cockpit and cabin electronics, wireless connectivity systems, mechanical components and more. Its hardware and software solutions create more fuel-efficient aircraft, more direct and on-time flights and safer skies and airports. For more information, visit www.honeywell.com or follow us at @Honeywell_Aero.

Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
DENSO CORPORATION -1.35% 7242 End-of-day quote.18.06%
HONEYWELL INTERNATIONAL INC. 0.06% 230.49 Delayed Quote.8.36%
All news about HONEYWELL INTERNATIONAL INC.
07/28HONEYWELL INTERNATIONAL : Globalworth Chooses Honeywell Forge SaaS Solution To D..
PU
07/27INSIDER TRENDS : Honeywell Insider Converts Option/Derivative Security Sells Por..
MT
07/27INSIDER TRENDS : Insider at Honeywell Acquires Stock Via Option/Derivative Secur..
MT
07/26HONEYWELL INTERNATIONAL : Jefferies Adjusts Honeywell International's Price Targ..
MT
07/26HONEYWELL INTERNATIONAL : Goldman Sachs Adjusts Honeywell International's Price ..
MT
07/26HONEYWELL INTERNATIONAL : Deutsche Bank Adjusts Honeywell International PT to $2..
MT
07/26HONEYWELL INTERNATIONAL : Credit Suisse Raises Honeywell International's PT to $..
MT
07/26HONEYWELL INTERNATIONAL : Baird Adjusts Honeywell International's Price Target t..
MT
07/26ASM GLOBAL : Enters Strategic Alliance With Honeywell to Create Smarter and Safe..
BU
07/26Asm Global Enters Strategic Alliance with Honeywell to Create Smarter and Saf..
CI
More news
Financials (USD)
Sales 2021 35 049 M - -
Net income 2021 5 734 M - -
Net Debt 2021 8 594 M - -
P/E ratio 2021 28,3x
Yield 2021 1,62%
Capitalization 159 B 159 B -
EV / Sales 2021 4,79x
EV / Sales 2022 4,41x
Nbr of Employees 103 000
Free-Float 72,0%
Chart HONEYWELL INTERNATIONAL INC.
Duration : Period :
Honeywell International Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HONEYWELL INTERNATIONAL INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 230,49 $
Average target price 242,04 $
Spread / Average Target 5,01%
EPS Revisions
Managers and Directors
Darius Adamczyk Chairman & Chief Executive Officer
Gregory P. Lewis Chief Financial Officer & Senior Vice President
Krishna Mikkilineni SVP-Engineering Operation & Information Technology
Suresh Venkatarayal Chief Technology Officer
Victor J. Miller Secretary, Chief Compliance Officer & VP
Sector and Competitors
1st jan.Capi. (M$)
HONEYWELL INTERNATIONAL INC.8.36%159 130
BERKSHIRE HATHAWAY INC.20.46%641 892
SIEMENS AG13.38%125 961
3M COMPANY13.44%116 000
GENERAL ELECTRIC COMPANY21.57%114 859
ILLINOIS TOOL WORKS INC.10.77%71 936