DENSO, Honeywell Ascend Into Urban Air Mobility With Expanded Alliance

Rhea-AI Summary

DENSO has signed a long-term agreement with Honeywell (NASDAQ: HON) to develop electric propulsion systems for aircraft, focusing on urban air mobility (UAM) applications like air taxis and delivery vehicles. The companies aim to deliver flight test configurations within a year and align their efforts with goals for carbon neutrality by 2035. The collaboration builds on a previous agreement and combines DENSO's automotive expertise with Honeywell's aerospace experience. This strategic move is expected to enhance both companies' positions in sustainable transportation.

Positive

• Long-term agreement with Honeywell to bolster electric propulsion systems.
• Focus on urban air mobility, addressing market demand for air taxis and delivery vehicles.
• Delivery of flight test configurations planned within a year.
• Joint commitment to achieving carbon neutrality by 2035.

Negative

• None.

SOUTHFIELD, Mich., and PHOENIX, May 24, 2021 /PRNewswire/ -- 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.

Contacts:

Andrew Rickerman

DENSO International America Inc.

(734) 560-8752

Andrew.Rickerman@na.denso.com

Adam Kress

Honeywell Aerospace

(602) 760-6252

Adam.Kress@Honeywell.com

 

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SOURCE Honeywell

FAQ

What agreement did Honeywell announce on May 24, 2021?

Honeywell announced a long-term agreement with DENSO to develop electric propulsion systems for urban air mobility.

How does the DENSO-Honeywell partnership impact urban air mobility?

The partnership aims to develop electric propulsion systems, focusing on air taxis and delivery vehicles to enhance urban air mobility.

What is the goal for carbon neutrality for Honeywell and DENSO?

Both companies aim to achieve carbon neutrality by 2035 as part of their strategic alliance.

What are the expected outputs from the Honeywell and DENSO collaboration?

The collaboration is expected to produce flight test configurations of the electric propulsion systems within a year.

What industries does Honeywell operate in?

Honeywell operates in aerospace, building technologies, performance materials, and other industry-specific solutions.