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Honeywell launches new business unit to capture drone market

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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 $120 billion by 2030 and Honeywell’s market opportunity would be about 20% 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.

The new business creation comes as the coronavirus pandemic creates a surge of interest in drone deliveries; Fymat said it’s accelerating the drone cargo delivery programs of some of its partners. Honeywell’s corporate venture capital arm has also invested in Southern California’s AirMap, an unmanned air traffic control system for drones, and Switzerland-based Daedalean, which develops autonomous flight controls.

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