HONEYWELL'S ADVANCED AIR MOBILITY BUSINESS REACHES $10 BILLION IN WINS TO HELP BUILD THE FUTURE OF SUSTAINABLE FLIGHT

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Honeywell (NASDAQ: HON) Secures $10 Billion in Contracts for Advanced Air Mobility (AAM) Unit

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• Honeywell Aerospace secures contracts worth over $10 billion for its Advanced Air Mobility (AAM) business unit, signaling strong industry partnerships and growth potential in the urban air mobility sector.

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• None.

Honeywell Aerospace technologies will help enable global same-day delivery of cargo, faster and more sustainable flights in and around urban areas

DUBAI, United Arab Emirates, Nov. 13, 2023 /PRNewswire/ -- Honeywell (NASDAQ: HON), a global leader in aerospace innovation, has announced its Advanced Air Mobility (AAM) business unit has secured contracts worth over $10 billion. Since its formation just over three years ago, the unit has developed vital partnerships with industry leaders such as Archer Aviation, Lilium, Pipistrel, Supernal and Vertical Aerospace.

"This milestone is not just about reaching a certain number, it's a testament to the unwavering vision we hold for the future of aviation and Advanced Air Mobility," said David Shilliday, vice president and general manager, AAM, Honeywell Aerospace. "We are committed to transforming travel and delivery services. Imagine a world where a 100-mile journey takes 45 minutes or less, and same-day package delivery is possible in every populated region of the world. With the help of our partners, we're making that vision a reality."

Honeywell's comprehensive product portfolio of ready-now solutions has been the cornerstone of its successful entry in the AAM market. The offerings, based on generations of experience across all sectors of aerospace, act as the brains, muscles and senses of the aircraft. Honeywell Anthem, a next-generation avionics system, serves as the "brain" behind intuitive cockpit operations. Honeywell's fly-by-wire solutions and custom-built actuation systems function as the "muscles," providing precise flight controls and the necessary redundancy for these advanced vehicles. Our diverse range of sensors such as RDR-84K radar and AH2000 attitude heading reference system adds the "senses," making these aircraft not just smart but also aware of their environment.

"Honeywell's nose-to-tail technology is a game-changer, setting the standard for safety and sustainability while providing an unprecedented user experience for our pilots," said Yves Yemsi, chief operating officer of Lilium.

The footprint of Honeywell's AAM business spans North America, Western Europe and India. This global presence has not only enabled Honeywell to meet customer needs more efficiently but has also opened doors to a rich diversity of talent and perspectives, further enriching its approach to the market.

Honeywell is also prioritizing the long-term growth of the AAM industry. Through initiatives like hosting industry summits in Washington, D.C., the company brings together regulators, original equipment manufacturers and members of Congress to catalyze meaningful dialogue and action.

"As we celebrate this milestone, we're looking toward the future," said Jim Currier, president and CEO, Honeywell Aerospace. "If you're developing an AAM vehicle, the time to explore a partnership with Honeywell is now. We're eager to collaborate with companies that share our vision to transform the way we travel and create a more sustainable future for aviation."

The $10B in wins represents Honeywell's assessment of the lifetime value of awards using an internal forecast of the number of AAM vehicles the company expects to be built.

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 is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations that help make the world smarter, safer and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

Contacts:

Media
Adam Kress
(602) 760-6252
adam.kress@honeywell.com

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SOURCE Honeywell

FAQ

What is the latest announcement from Honeywell Aerospace?

Honeywell (NASDAQ: HON) has secured contracts worth over $10 billion for its Advanced Air Mobility (AAM) business unit.

Who are the key industry partners of Honeywell's AAM unit?

Honeywell's AAM unit has developed partnerships with industry leaders such as Archer Aviation, Lilium, Pipistrel, Supernal, and Vertical Aerospace.

What is the focus of Honeywell's AAM unit?

Honeywell's AAM unit aims to enable global same-day delivery of cargo, faster and more sustainable flights in urban areas through advanced aerospace technologies.