Honeywell International Inc, a major supplier of aerospace products, said Monday it launched an unmanned aerial systems business to bet on the autonomous aviation space – drones, air taxis, and unmanned cargo delivery vehicles.
Stéphane Fymat, the head of that new business, said Honeywell expects the hardware and software market for urban air taxis, drone cargo delivery, and other drone businesses to reach US$120 billion by 2030 and Honeywell’s market opportunity would be about 20per cent of that. He declined to say how much of that market Honeywell was targeting to capture, adding only that the unit has hundreds of employees with many engineers.
Some of Honeywell’s customers include Intel-backed Volocopter, Slovenia-based small aircraft maker Pipistrel, which is developing an electric vertical take-off and landing aircraft for cargo delivery, and UK-based Vertical Aerospace, which has test flown a prototype vehicle last year that can carry 250 kilograms and fly at 80 kilometers an hour.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Beijing infections in market spark fears of second waveHealth authorities reported 44 new coronavirus infections in Beijing, all of whom were linked to the Xinfadi Wholesale Market, which has since been shut down.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Beijing logs record 36 COVID-19 cases, linked to market clusterBEIJING: Beijing on Sunday (Jun 14) reported a record 36 new cases of COVID-19 in China's capital, all linked to a major food wholesale market, ... Food is destroyed in China to create demand for US food. Xi does not want to break Trump's trade deal. Food shortage must be created in China, or US food would not be purchased, as trade deal requires. New covid in Beijing is fake excuse to destroy China food.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Stocks to watch: Keppel, Perennial, Lendlease Global Reit, CapitaLand, Union GasTHE following companies saw new developments that may affect trading of their securities on Monday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
After ivory trade crackdown, Chinese buyers find new black market in CambodiaThe ivory trade has taken a hit in recent years, with sweeping domestic trade bans from major consumer countries like China.But tightening regulations and enforcement have not stamped out the trade in Asia. Instead it has forced criminal networks to adapt and shift to countries less able to enforce the
Source: YahooSG - 🏆 3. / 71 Read more »