Honeywell International Inc. (Hon): Business Model Canvas [Jan-2025 Mis à jour]

Honeywell International Inc. apparaît comme une puissance technologique, transformant stratégiquement les industries à travers des solutions innovantes qui comblent l'aérospatiale, l'automatisation industrielle et la transformation numérique. Avec un modèle commercial complexe qui s'étend plusieurs secteurs critiques, Honeywell exploite l'ingénierie de pointe, les partenariats stratégiques et les capacités technologiques avancées pour fournir des solutions haute performance qui redéfinissent l'excellence technologique sur les marchés mondiaux. Des technologies aérospatiales aux innovations d'infrastructure intelligentes, les toiles commerciales dynamiques de Honeywell représentent un plan sophistiqué de l'innovation industrielle moderne et de la création de valeur stratégique.

Honeywell International Inc. (Hon) - Modèle commercial: partenariats clés

Alliances stratégiques avec les fabricants aérospatiaux

Honeywell a établi des partenariats critiques avec les principaux fabricants aérospatiaux:

Partenaire aérospatial	Détails du partenariat	Valeur du contrat
Boeing	Approvisionnement en technologie avionique et aérospatiale	Contrat annuel de 2,5 milliards de dollars
Airbus	Systèmes de contrôle de vol et technologies de navigation	Collaboration annuelle de 1,8 milliard de dollars

Partenariats de collaboration technologique

Les partenariats technologiques de Honeywell se concentrent sur les logiciels avancés et les solutions d'IA:

• Microsoft Azure Cloud Integration Partnership
• Collaboration Google Cloud AI
• NVIDIA Artificial Intelligence Technology Partnership

Coentreprises d'automatisation industrielle

Les principaux partenariats d'automatisation industrielle comprennent:

Partenaire	Focus de la collaboration	Investissement
Siemens	Intégration des systèmes de contrôle	Coentreprise 450 millions de dollars
ABB LTD	Robotique et automatisation industrielles	Projet collaboratif de 350 millions de dollars

Partenariats de recherche et d'innovation

Collaborations de recherche universitaire:

• Institut de technologie du Massachusetts (MIT)
• Université de Stanford
• Université Carnegie Mellon

Partenariats mondiaux de la chaîne d'approvisionnement

Partenariats de technologie mondiale et de fabrication critiques:

Partenaire	Contribution de la chaîne d'approvisionnement	Valeur annuelle
Foxconn	Fabrication d'électronique	Partenariat de 1,2 milliard de dollars
Flex Ltd	Solutions de fabrication avancées	Contrat de collaboration de 900 millions de dollars

Honeywell International Inc. (Hon) - Modèle d'entreprise: Activités clés

Conception et fabrication de la technologie aérospatiale

Honeywell Aerospace a généré 14,8 milliards de dollars de revenus en 2022. Installations de fabrication clés situées à Phoenix, Arizona et Windsor Locks, Connecticut.

Catégorie de produits aérospatiale	Revenus annuels
Moteurs d'avion	5,2 milliards de dollars
Systèmes avioniques	4,6 milliards de dollars
Services de rechange aérospatiale	5,0 milliards de dollars

Développement des systèmes d'automatisation industrielle et de contrôle

Le segment des solutions de processus Honeywell a généré 7,9 milliards de dollars de revenus en 2022.

• Développé 287 nouveaux brevets du système de contrôle industriel
• A investi 1,2 milliard de dollars en R&D pour les technologies d'automatisation
• Déployé plus de 10 000 installations du système de contrôle industriel dans le monde entier

Recherche de matériaux et technologies de performance

Le segment des matériaux et technologies de performance a généré 6,5 milliards de dollars de revenus en 2022.

Domaine de mise au point de recherche	Investissement annuel
Recherche avancée des matériaux	512 millions de dollars
Technologies de réfrigérant	275 millions de dollars

Solutions de cybersécurité et de transformation numérique

Les solutions de cybersécurité ont généré environ 1,3 milliard de dollars de revenus en 2022.

• Solutions de cybersécurité déployées dans 65 pays
• Protégé plus de 10 000 systèmes de contrôle industriel
• Développé 42 nouvelles plates-formes logicielles de cybersécurité

Développement avancé des produits de détection et IoT

Les solutions de l'Internet des objets (IoT) ont généré 2,1 milliards de dollars de revenus en 2022.

Catégorie de produit IoT	Unités annuelles produites
Capteurs connectés	1,2 million d'unités
Plates-formes IoT industrielles	845 plateformes

Honeywell International Inc. (Hon) - Modèle d'entreprise: Ressources clés

Ingénierie avancée et capacités de R&D

Honeywell a investi 2,1 milliards de dollars dans la recherche et le développement en 2022. La société maintient 24 centres de recherche mondiaux avec plus de 6 000 brevets actifs.

Métrique de R&D	Valeur
Investissement total de R&D (2022)	2,1 milliards de dollars
Centres de recherche mondiaux	24
Brevets actifs	6,000+

Installations de fabrication mondiale

Honeywell exploite 82 installations de fabrication dans 33 pays, avec une présence en production importante aux États-Unis, en Chine, en Inde et en Europe.

• Emplacements totaux de fabrication: 82
• Pays ayant une présence manufacturière: 33
• Régions de fabrication clés: Amérique du Nord, Asie-Pacifique, Europe

Portfolio de propriété intellectuelle étendue

Le portefeuille de propriétés intellectuels de Honeywell couvre plusieurs domaines technologiques, en mettant l'accent stratégique sur l'aérospatiale, les technologies de construction, les matériaux de performance et les solutions de sécurité.

Catégorie IP	Nombre de brevets
Technologies aérospatiales	1,850
Technologies de construction	1,200
Matériaux de performance	1,500
Solutions de sécurité	900

Main-d'œuvre technologique qualifiée

En 2022, Honeywell emploie 117 000 travailleurs dans le monde, avec environ 45% détenant des diplômes techniques avancés.

• Total des employés mondiaux: 117 000
• Employés titulaires de diplômes techniques avancés: 52 650
• Pourcentage de main-d'œuvre d'ingénierie: 38%

Infrastructure de transformation numérique robuste

Honeywell a investi 500 millions de dollars dans les technologies de transformation numérique, notamment l'Internet des objets industrielles (IIoT) et les plateformes d'intelligence artificielle.

Zone d'investissement numérique	Montant d'investissement
Investissement total de transformation numérique	500 millions de dollars
Développement de la plate-forme IIOT	175 millions de dollars
IA et apprentissage automatique	150 millions de dollars

Honeywell International Inc. (Hon) - Modèle d'entreprise: Propositions de valeur

Technologies industrielles et aérospatiales de pointe

Honeywell a déclaré 14,7 milliards de dollars de revenus du segment aérospatial pour 2023. Les principales offres technologiques comprennent:

• Systèmes de navigation avion avancés
• Technologies de propulsion aérospatiale
• Solutions de communication par satellite

Catégorie de technologie	Revenus de 2023	Part de marché
Systèmes de navigation d'avion	4,2 milliards de dollars	27%
Propulsion aérospatiale	5,6 milliards de dollars	22%

Solutions avancées de sécurité et de performance

Les solutions de sécurité de Honeywell ont généré 8,3 milliards de dollars en revenus 2023. Les principaux domaines d'intervention comprennent:

• Équipement de sécurité industrielle
• Systèmes de surveillance des performances
• Technologies de cybersécurité

Type de solution de sécurité	2023 Investissement	Impact du marché mondial
Équipement de sécurité industrielle	2,7 milliards de dollars	35%
Technologies de cybersécurité	1,5 milliard de dollars	18%

Innovations de produits éconergétiques et durables

Honeywell a investi 1,8 milliard de dollars dans la recherche sur les technologies durables en 2023. Les principales initiatives de durabilité comprennent:

• Technologies de construction verte
• Solutions industrielles à faible teneur en carbone
• Systèmes d'énergie renouvelable

Plates-formes de transformation numériques intégrées

Le segment de transformation numérique a généré 6,5 milliards de dollars en 2023 revenus. Les plates-formes de base comprennent:

• Solutions IoT industrielles
• Plateformes d'analyse avancées
• Systèmes d'entreprise basés sur le cloud

Solutions technologiques à haute fiabilité

Les solutions à haute fiabilité de Honeywell dans tous les industries ont généré 12,2 milliards de dollars en 2023. Déchange du secteur:

Secteur de l'industrie	Revenus de 2023	Pénétration technologique
Fabrication	4,6 milliards de dollars	42%
Énergie	3,8 milliards de dollars	33%
Transport	3,8 milliards de dollars	25%

Honeywell International Inc. (Hon) - Modèle d'entreprise: relations avec les clients

Partenariats technologiques d'entreprise à long terme

En 2024, Honeywell maintient des partenariats technologiques stratégiques avec 87 entreprises du Fortune 100 dans plusieurs secteurs industriels. La durée moyenne du partenariat est de 12,4 ans, avec des valeurs de contrat allant de 5,2 millions de dollars à 47,6 millions de dollars par an.

Secteur de l'industrie	Nombre de partenariats	Valeur du contrat moyen
Fabrication	34	18,3 millions de dollars
Énergie	22	26,7 millions de dollars
Aérospatial	15	35,9 millions de dollars
Technologie	16	15,6 millions de dollars

Réseaux de support technique dédié et de service

Honeywell exploite 247 centres de services mondiaux avec 3 642 professionnels de l'assistance technique certifiés. La société maintient une cote de satisfaction du client de 98,7% et répond à 92% des demandes de support technique dans les 4 heures.

• Centres de services mondiaux: 247
• Professionnels de soutien technique: 3 642
• Évaluation de satisfaction du client: 98,7%
• Temps de réponse pour les demandes techniques: 92% dans les 4 heures

Conception de solution personnalisée pour les besoins spécifiques de l'industrie

En 2024, Honeywell a développé 412 solutions technologiques spécifiques à l'industrie à travers l'aérospatiale, les technologies de construction, les matériaux de performance et les systèmes de sécurité. L'investissement dans la conception de solutions personnalisés a atteint 876 millions de dollars.

Segment de l'industrie	Solutions personnalisées développées	Investissement
Aérospatial	127	312 millions de dollars
Technologies de construction	98	214 millions de dollars
Matériaux de performance	87	196 millions de dollars
Systèmes de sécurité	100	154 millions de dollars

Plates-formes de fiançailles clients numériques

Les plates-formes numériques de Honeywell desservent 68 000 clients d'entreprise grâce à des solutions intégrées basées sur le cloud. L'infrastructure d'engagement numérique prend en charge l'analyse de données en temps réel, la maintenance prédictive et les capacités de surveillance à distance.

Performance continue des produits et engagement d'innovation

En 2024, Honeywell a investi 5,2 milliards de dollars dans la recherche et le développement, avec 1 876 nouveaux brevets déposés. La société maintient un cycle d'innovation des produits en moyenne de 18 à 24 mois dans ses portefeuilles technologiques.

• Investissement en R&D: 5,2 milliards de dollars
• Nouveaux brevets déposés: 1 876
• Cycle d'innovation des produits: 18-24 mois

Honeywell International Inc. (Hon) - Modèle d'entreprise: canaux

Force de vente directe pour les clients d'entreprise

Honeywell exploite une force de vente directe mondiale de 3 200 professionnels des ventes d'entreprises à partir de 2023. L'équipe de vente se concentre sur les industries clés, notamment:

• Aérospatial
• Technologies de construction
• Matériaux et technologies de performance
• Solutions de sécurité et de productivité

Segment du canal de vente	Revenus annuels (2023)	Nombre de clients d'entreprise
Ventes directes aérospatiales	14,7 milliards de dollars	1 250 clients d'entreprise
Building Technologies Ventes directes	5,2 milliards de dollars	850 clients d'entreprise

Plateformes numériques en ligne et commerce électronique

Les plates-formes numériques de Honeywell génèrent environ 2,3 milliards de dollars de revenus de vente en ligne annuels. La société maintient:

• Portail d'entreprise honeywell.com
• Marchés numériques spécifiques à l'industrie
• Plates-formes de solutions basées sur le cloud

Réseaux de distribution stratégique

Honeywell maintient 87 centres de distribution mondiaux dans 42 pays. Les statistiques du réseau de distribution comprennent:

Région	Nombre de centres de distribution	Volume de distribution annuel
Amérique du Nord	38	12,6 milliards de dollars
Europe	22	8,4 milliards de dollars
Asie-Pacifique	27	7,9 milliards de dollars

Conférences de technologie et événements de l'industrie

Honeywell participe à 126 événements mondiaux de technologie et d'industrie par an, avec un investissement marketing estimé à 42 millions de dollars.

Réseaux de partenaires et de revendeurs

L'écosystème partenaire de Honeywell comprend:

• 1 750 partenaires technologiques certifiés
• 3 600 revendeurs autorisés
• Revenus du programme partenaire annuel: 3,8 milliards de dollars

Catégorie de partenaire	Nombre de partenaires	Revenu annuel moyen par partenaire
Partenaires technologiques	1,750	1,2 million de dollars
Revendeurs autorisés	3,600	$750,000

Honeywell International Inc. (Hon) - Modèle d'entreprise: segments de clients

Fabricants et compagnies aériennes aérospatiales

En 2023, Honeywell a servi plus de 4 500 opérateurs d'avions commerciaux et militaires dans le monde. Le segment de clientèle aérospatial représentait 14,2 milliards de dollars de revenus annuels.

Type de client	Part de marché	Revenus annuels
Compagnies aériennes commerciales	62%	8,8 milliards de dollars
Opérateurs d'avions militaires	38%	5,4 milliards de dollars

Sociétés d'automatisation industrielle

Le segment des solutions de processus de Honeywell a généré 10,6 milliards de dollars de revenus d'automatisation industrielle en 2023.

• Clients manufacturiers: 2 300+
• Part de marché des systèmes de contrôle des processus: 35%
• Valeur du contrat moyen: 1,7 million de dollars

Secteurs de l'énergie et des services publics

Les revenus du secteur de l'énergie ont atteint 9,3 milliards de dollars en 2023, avec 45% des solutions énergétiques renouvelables et durables.

Sous-secteur de l'énergie	Nombre de clients	Contribution des revenus
Pétrole et gaz	1,200	5,1 milliards de dollars
Énergie renouvelable	850	4,2 milliards de dollars

Organisations gouvernementales et de défense

Les contrats de défense et de gouvernement ont généré 6,8 milliards de dollars en 2023, ce qui représente 15% du total des revenus des entreprises.

• Contrats du ministère américain de la Défense: 4,2 milliards de dollars
• Clients gouvernementaux internationaux: 47 pays
• Solutions de cybersécurité Revenus: 1,1 milliard de dollars

Développeurs intelligents de construction et d'infrastructure

Le segment des technologies de construction a généré 4,5 milliards de dollars en 2023, avec Smart Infrastructure Solutions.

Type d'infrastructure	Segments de clientèle	Revenus annuels
Bâtiments commerciaux	2 700 clients	2,6 milliards de dollars
Développements résidentiels	1 500 développeurs	1,9 milliard de dollars

Honeywell International Inc. (Hon) - Modèle d'entreprise: Structure des coûts

Investissement élevé de R&D

En 2023, Honeywell a investi 2,1 milliards de dollars dans les frais de recherche et de développement, ce qui représente environ 4,5% de ses revenus totaux. La répartition des dépenses de R&D de l'entreprise comprend:

Technologies aérospatiales

Automatisation industrielle

Matériaux de performance

Domaine de recherche	Montant d'investissement
752 millions de dollars
568 millions de dollars
412 millions de dollars

Opérations de fabrication mondiales

Honeywell exploite 111 installations de fabrication dans 34 pays, avec des coûts opérationnels de fabrication totaux estimés à 3,8 milliards de dollars en 2023.

Région	Installations de fabrication	Coût opérationnel
Amérique du Nord	52 installations	1,5 milliard de dollars
Europe	28 installations	892 millions de dollars
Asie-Pacifique	22 installations	786 millions de dollars

Acquisition et rétention de talents

Les dépenses en capital humain de Honeywell en 2023 ont totalisé 6,2 milliards de dollars, notamment:

• Salaires des employés: 4,3 milliards de dollars
• Avantages et rémunération: 1,1 milliard de dollars
• Formation et développement: 280 millions de dollars
• Coûts de recrutement: 120 millions de dollars

Maintenance des infrastructures technologiques

Les investissements sur l'infrastructure technologique et la transformation numérique ont atteint 645 millions de dollars en 2023, avec des allocations spécifiques:

• Infrastructure de cloud computing: 278 millions de dollars
• Systèmes de cybersécurité: 192 millions de dollars
• Mises à niveau des logiciels d'entreprise: 175 millions de dollars

Innovation continue et développement de produits

Les coûts de développement de produits en 2023 s'élevaient à 1,9 milliard de dollars, distribués sur les principaux segments d'entreprise:

Segment d'entreprise	Investissement de développement de produits
Aérospatial	712 millions de dollars
Matériaux de performance	456 millions de dollars
Automatisation industrielle	392 millions de dollars
Solutions de sécurité et de productivité	340 millions de dollars

Honeywell International Inc. (Hon) - Modèle d'entreprise: Strots de revenus

Ventes de technologie aérospatiale

En 2023, le segment aérospatial de Honeywell a généré 14,9 milliards de dollars de revenus. Les principales sources de revenus comprennent:

• Ventes d'équipements d'aviation commerciale: 6,2 milliards de dollars
• Systèmes aérospatiaux militaires et de défense: 4,7 milliards de dollars
• Pièces et services de rechange d'avions: 3,8 milliards de dollars

Catégorie de produits aérospatiale	2023 revenus ($ b)	Pourcentage de segment
Systèmes d'aéronefs commerciaux	6.2	41.6%
Solutions aérospatiales militaires	4.7	31.5%
Services de rechange	3.8	26.9%

Systèmes de contrôle industriel

Le segment de l'automatisation industrielle de Honeywell a généré 10,3 milliards de dollars de revenus pour 2023, avec une panne comme suit:

• Systèmes de contrôle des processus: 5,6 milliards de dollars
• Systèmes de sécurité industrielle: 2,7 milliards de dollars
• Détection et technologies de l'Internet des objets: 2,0 milliards de dollars

Licence de matériel de performance

Revenu du segment des matériaux et technologies de performance en 2023: 8,1 milliards de dollars

Catégorie de licence	2023 Revenus ($ m)
Licence chimique	1.2
Licence de matériaux avancés	0.8
Transfert de technologie des matériaux de performance	0.5

Solutions de transformation numérique

Revenus de transformation numérique pour 2023: 3,2 milliards de dollars

• Solutions logicielles d'entreprise: 1,5 milliard de dollars
• Services de transformation du cloud: 1,1 milliard de dollars
• Services d'intégration IoT et IA: 0,6 milliard de dollars

Services de rechange et contrats de maintenance

Revenus de services de rechange totaux en 2023: 6,5 milliards de dollars

Catégorie de service	2023 revenus ($ b)
Entretien de l'équipement	3.1
Remplacement des pièces de rechange	2.4
Contrats de support technique	1.0

Honeywell International Inc. (HON) - Canvas Business Model: Value Propositions

You're looking at the core offerings Honeywell International Inc. (HON) delivers to its customers as of late 2025, right before major portfolio separations. These propositions are deeply tied to tangible performance improvements and financial outcomes.

Increased aircraft efficiency and safety for commercial and defense customers.

The Aerospace Technologies segment is showing significant strength, which speaks directly to the value of its high-reliability components and software. For the third quarter of 2025, Aerospace Technologies sales grew organically by 12% year over year, driven by defense and commercial aftermarket strength. This momentum follows a Q2 2025 where this division saw sales jump 10.7% to $4.31 billion. Software like Honeywell Forge Performance+ for Aerospace helps Maintenance, Repair, and Overhaul (MRO) teams prioritize tasks with the highest operational impact, aiming to decrease maintenance times and increase asset utilization. Furthermore, safety improvements are evident in the broader industry context, where the FAA is using AI to identify hotspots of potentially unsafe flight operations following incidents like the January 2025 DCA collision.

Industrial process optimization via automation and software (Honeywell Forge).

Honeywell Forge, the flagship Industrial Internet of Things (IIoT) software platform, is central to uniting real-time data across assets and processes to enable intelligent operations. This platform underpins the value across segments. For instance, in the Energy and Sustainability Solutions area, Honeywell expanded its Smart Energy portfolio in August 2025 by acquiring three utility platforms from SparkMeter, combining them with Honeywell Forge Performance+ for Utilities to optimize grid assets. While the Honeywell Forge Services suite for flight planning was discontinued by April 30, 2025, the core Forge platform remains a strategic digital pillar for the remaining businesses.

Sustainable solutions for energy transition (e.g., Solstice refrigerants, UOP).

Honeywell International Inc. is actively positioning its sustainability-focused offerings for independence, with the Solstice Advanced Materials spin-off targeted for completion on October 30, 2025. This business, including Solstice refrigerants, targets a low-GWP refrigerant market projected to reach $117 billion by 2037. The Solstice business is projected to generate $6.7 billion in revenue by 2026, supported by EBITDA margins exceeding 25%. A concrete example of this value is the partnership with Bosch, where the use of Solstice 454B refrigerant in new heat pump series reduced greenhouse gas emissions by 78% compared to traditional refrigerants. The Energy and Sustainability Solutions segment itself saw organic sales increase by 6% in Q3 2025, with UOP showing significant growth.

Integrated building management for energy savings and security.

The Building Automation segment is a clear growth driver, reporting revenue of $1.83 billion in Q2 2025, representing an increase of +16.2% compared to the previous year. This growth is fueled by demand for integrated, energy-efficient systems. Honeywell's own research from February 2025 indicated that 84% of commercial building decision-makers plan to increase their use of Artificial Intelligence (AI) to streamline energy management and improve security. The Honeywell Forge Energy Optimization system, a cloud-based solution, demonstrated its capability by achieving an initial 10% energy savings in a pilot at Hamdan Bin Mohammed Smart University, beyond savings already realized in that smart building. Furthermore, building products saw 9% growth in Q2 2025.

High-reliability, mission-critical components for demanding environments.

The overall portfolio strength is reflected in the company's financial guidance. For the full year 2025, Honeywell updated its sales expectation to a range of $40.7 billion to $40.9 billion, with an organic sales growth guidance of approximately 6%. Segment margin for the full year 2025 is anticipated to be between 23.0% to 23.2%. The company's backlog stood at a record $35.3 billion at the end of 2024, indicating strong customer commitment to long-term, high-reliability solutions. The planned separation of Aerospace and Advanced Materials is intended to simplify the remaining Honeywell portfolio around core automation and energy transition, focusing on these high-margin, mission-critical areas.

Here is a snapshot of the financial context supporting these value propositions as of late 2025:

Metric	Value/Range (Late 2025 Data)	Context/Period
FY 2025 Updated Sales Guidance	$40.7 billion to $40.9 billion	Full Year 2025
FY 2025 Organic Sales Growth Guidance	Approximately 6%	Full Year 2025
Aerospace Technologies Organic Sales Growth	12%	Three Months Ended September 30, 2025
Building Automation Q2 2025 Revenue	$1.83 billion	Second Quarter 2025
Solstice Projected Revenue	$6.7 billion	By 2026
Solstice EBITDA Margin	Greater than 25%	Expected Post-Spin-off
Total Company Backlog	$35.3 billion	End of 2024

The value proposition is also supported by the adoption of digital tools:

• 84% of commercial building decision-makers plan to increase AI use for energy management and security.
• Honeywell Forge Energy Optimization pilot delivered an initial 10% energy savings.
• Solstice 454B partnership with Bosch achieved 78% reduction in greenhouse gas emissions in specific applications.
• The company repurchased $1.7 billion of its shares in Q2 2025 as part of capital deployment ahead of separations.

Honeywell International Inc. (HON) - Canvas Business Model: Customer Relationships

You're looking at how Honeywell International Inc. manages its deep, established customer ties while actively reshaping its structure into three independent companies. The relationships are critical, especially as the Aerospace business, which historically accounted for about 40% of total revenue, prepares for its separation.

Long-term, high-touch relationships with major OEM and government clients.

Honeywell International Inc. maintains deep relationships with large defense and aerospace original equipment manufacturers (OEMs) like Boeing and Airbus, alongside significant U.S. government work. The company's backlog grew 22% organically from the previous year to $11.9 billion in the third quarter of 2025, reflecting strong commitments from these key customers.

The nature of these relationships is evidenced by contract activity:

• Total award payments seen to Honeywell International Inc. over the last year reached $580,964,273.
• A contract modification for the U.S. Army's M1 Abrams tank support (TIGER III program) was expected to finish by September 2025.
• In February 2025, Honeywell was awarded a multi-million dollar contract by the U.S. government's Intelligence Advanced Research Projects Activity (IARPA).

Here's a snapshot of recent government contract activity:

Contract/Program Example	Award Payment Amount (Last Year)	Contracting Agency Context
TIGER DO 13 ILSC	$200,897,730	Department of Defense
ENTERPRISE PERFORMANCE BASED LOGISTICS CONTRACT FOR SECONDARY POWER SUPPORT	$111,721,359	Department of the Army
TIGER III - HARDWARE DO 14 ILSC	$48,142,675	Department of Defense

Dedicated service and maintenance contracts for the large installed base.

A substantial portion of revenue comes from keeping existing equipment running, which translates directly into high-touch service relationships. Approximately 30% of Honeywell International Inc.'s revenue is derived from recurring aftermarket services. This recurring revenue stream is robust; for instance, the Aerospace division posted a 10.7% jump in sales to US$4.31 billion in the second quarter of 2025, largely driven by aircraft maintenance and repair services as airlines kept older fleets flying.

Co-development and solution selling for complex, multi-year industrial projects.

The focus on an 'outcomes-based, unified automation strategy' involves deep collaboration to solve complex customer problems across end markets. This is supported by a strong commitment to innovation, with Research and Development spending increasing to $1.54 billion in the first half of 2025, representing 4.16% of revenue. The company's overall full-year 2025 organic sales growth target was raised to approximately 6% following Q3 results.

Digital self-service and support for software-as-a-service (SaaS) users.

Honeywell International Inc. is actively transforming its automation business structure to focus on cohesive, synergetic models, which includes digital offerings. While specific user counts for Honeywell's proprietary SaaS offerings aren't public, the company operates within a market where 72% of SaaS users access platforms via mobile devices as of 2025. The strategy involves integrating deep domain expertise with AI, cloud, and edge technology to deliver connected solutions.

Investor relations focused on clear communication during the separation.

Customer relationship management extends to the investment community during the portfolio transformation. Honeywell International Inc. is on track to complete the spin-off of Solstice Advanced Materials by the end of Q4 2025. The larger separation of the Aerospace business is planned for the second half of 2026. To manage this, in November 2025, Honeywell appointed a dedicated Investor Relations lead for the upcoming Honeywell Aerospace spin-off.

Honeywell International Inc. (HON) - Canvas Business Model: Channels

You're looking at how Honeywell International Inc. gets its products and services into the hands of its customers across the globe as of late 2025. The channel strategy is clearly segmented to match the complexity and scale of each business area.

The Aerospace Technologies segment, which is a major part of the business, relies heavily on direct engagement for large original equipment manufacturer (OEM) contracts and a robust aftermarket channel. In the third quarter of 2025, commercial aftermarket sales saw a significant jump of 19% year over year, showing the strength of that service channel. The entire Aerospace Technologies segment posted organic sales growth of 12% in that same quarter.

For the direct sales approach targeting large government and industrial contracts, the scale is reflected in the segment's overall contribution. In the first quarter of fiscal 2026 (ended September 2025), the Aerospace Technologies segment accounted for 32.3% of the company's total business.

The software delivery channel, anchored by the Honeywell Forge platform, is driving digital revenue streams. Honeywell International dominated the building automation and enterprise sustainability segment with a 22% market share, reporting 30% growth specifically through its Forge platform in that market as of late 2025. Management noted encouragement by the execution of connected offerings through Honeywell Forge, driving increased recurring revenue in the portfolio.

The reliance on aftermarket and recurring revenue is a key channel strategy across the board. Based on 2023 figures, the firm was already working diligently to expand its installed base, deriving around 30% of its revenue from recurring aftermarket services.

The channel strategy for Building Products (now largely within the Building Automation segment) leans on a broad distribution network. The overall structure of the company, prior to planned separations, showed Building Automation represented 17% of 2023 company revenue.

Here's a look at the revenue scale associated with these channels based on the latest reported segment data, which gives you a sense of the channel focus:

Business Segment (Channel Focus)	2024 Revenue (Billions USD)	2023 Revenue Share Percentage
Aerospace Technologies (Direct Sales/Aftermarket)	$15.46 B	38.46%
Home And Building Technologies (Distributors)	$8.26 B	20.54%
Energy and Sustainability Solutions (Direct/Software)	$6.43 B	15.99%
Industrial Automation (Direct/Channel Mix)	Data Not Directly Available for 2024 Revenue in Search	29%

The company's overall 2025 full-year sales guidance, reflecting the combined output of all channels, was updated to be between $40.7 billion to $40.9 billion.

For smaller, standardized products, the use of e-commerce platforms is integrated, though specific revenue contribution figures aren't publicly detailed. However, the overall trend shows a push toward digital delivery, as seen with the Honeywell Forge platform. The company is moving toward a simplified structure for its automation businesses starting in the first quarter of 2026, which will include a new segment called Process Automation and Technology, suggesting a refinement of how software and technology solutions are delivered through channels.

• Commercial aftermarket sales growth (Q3 2025): 19% year over year.
• Honeywell Forge platform growth context (late 2025): 30% growth reported in its dominated segment.
• Full-year 2025 organic sales growth target: Approximately 6%.
• Total company backlog as of Q2 2025: Record $35.3 billion.

Finance: draft 13-week cash view by Friday.

Honeywell International Inc. (HON) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Honeywell International Inc. as of late 2025, right in the middle of its major portfolio transformation. Honestly, understanding who buys what tells you where the real money is flowing, especially now with the planned separations underway.

The customer segments Honeywell serves are quite diverse, spanning high-tech defense to industrial maintenance. The company's Q2 2025 reported sales hit $10.4 billion, with the full-year sales guidance raised to between $40.8 billion and $41.3 billion. This revenue base is supported by these distinct customer groups.

Aerospace OEMs, Major Airlines, and Global Defense/Space Agencies

This group is the engine room, making up Honeywell International Inc.'s biggest revenue generator. Demand here has been robust, evidenced by the 10.7 per cent jump in sales to $4.31 billion for the Aerospace Technologies division in the second quarter of 2025. Defense and space specifically saw 13% year-over-year organic growth in Q2 2025. You see this strength reflected in the backlog, which grew 16% from the previous year as of Q2 2025. To be fair, the commercial aftermarket is also a huge part of this, with sales increasing 19% in Q3 2025, driven by air transport. It's worth noting that approximately 30% of Honeywell International Inc.'s total revenue is derived from recurring aftermarket services across the business.

Industrial Process Operators (Petrochemical, Refining, Gas Processing)

These customers fall largely under the Process Solutions umbrella within the broader Industrial Automation segment. While the overall Industrial Automation unit saw flat organic growth in Q2 2025, specific areas showed movement. For instance, UOP, which serves this sector, posted double-digit organic sales growth in Q2 2025. However, by the third quarter, Process Solutions sales were flat year over year, as challenging project demand offset growth in smart energy and thermal solutions. These operators rely on Honeywell International Inc. for critical operational technology.

Commercial Building Owners and Facility Managers

This segment, housed under Building Automation, has been a clear growth driver. In Q2 2025, this segment led with a 16% sales increase. The momentum carried into Q3 2025, where Building Automation added 7% organic growth. Building products within this area, like fire products, even saw double-digit growth for a fourth consecutive quarter. Growth in Building Automation was specifically cited as leading segment profit increases in Q3 2025.

Governments and Utilities Focused on Energy Transition and Sustainability

This group is served by the Energy and Sustainability Solutions business. While specific revenue figures for this segment alone aren't always broken out in the top-line reports, its performance contributes to the overall picture. This area saw 6% organic growth in Q1 2025 and was noted as a driver for segment profit growth in Q3 2025. These customers are focused on deploying solutions related to energy efficiency and cleaner processes.

Here's a quick look at the segment performance that reflects these customer groups in Q2 2025:

Segment	Q2 2025 Sales (Reported)	Q2 2025 Organic Growth	Q2 2024 Sales
Aerospace Technologies	$4.31 billion	6%	$3.891 billion
Building Automation	N/A (Led sales increase)	N/A (Reported 16% sales increase)	N/A
Industrial Automation (Total)	N/A	Flat (0%)	N/A

Logistics and Warehouse Operators (Prior to PSS/WWS Divestiture)

These customers were served by the Productivity Solutions and Services (PSS) and Warehouse and Workflow Solutions (WWS) businesses, which Honeywell International Inc. announced it was evaluating strategic alternatives for in July 2025. Before this evaluation, these units faced headwinds. PSS sales decreased 7% year over year in Q2 2025, driven by weakness in Europe. WWS sales declined 4% in Q2 2025 due to project timing. To give you context on their size before the strategic review, PSS had 2024 revenue of more than $1 billion, and WWS generated nearly $1 billion in 2024 revenue. By Q3 2025, PSS sales were down 3%, though WWS saw growth of 2%.

The company is clearly pivoting away from these logistics-focused units, with the Solstice Advanced Materials spin-off targeted for the fourth quarter of 2025. Finance: draft 13-week cash view by Friday.

Honeywell International Inc. (HON) - Canvas Business Model: Cost Structure

You're looking at the costs Honeywell International Inc. faces as it navigates a major corporate transformation, which means the cost structure isn't just about making widgets; it's about the cost of unmaking the current structure too. Here's the quick math on where the cash is going based on late 2025 figures.

High fixed costs from R&D investments are a constant, reflecting the need to stay ahead in complex industrial and aerospace tech. For the first quarter of 2025, Research & Development Expenses hit $439 million, against Net Sales of $9,822 million. This translates to an R&D intensity of about 4.47% of sales for that period, which is right in line with the expected high fixed cost base you mentioned.

The Cost of Goods Sold (COGS) remains a massive component, naturally, given the complex hardware manufacturing across its segments. Looking at the second quarter of 2025, the Cost of Sales alone was $6,329 million against Net Sales of $10,352 million. This high COGS ratio is the direct cost of producing everything from avionics to process controls.

The strategic overhaul introduces significant, non-recurring costs. Honeywell announced its intent to pursue a three-way separation, targeting completion in the second half of 2026. While specific, isolated separation costs for the full year 2025 aren't explicitly itemized in every release, the process itself drives expenses. For instance, operating income margin in one segment showed pressure, possibly linked to restructuring costs or integration expenses related to the strategic shift. Furthermore, the company is actively managing portfolio transformation, which includes the planned spin-off of the Advanced Materials business, slated for late 2025 or early 2026.

Capital deployment costs are significant, showing management's commitment to shareholder returns and growth investments. In the first quarter of 2025, Honeywell deployed a total of $2.9 billion in capital across share repurchases, dividends, and Capital Expenditures (CapEx). This deployment included $1.9 billion in share repurchases during Q1 2025 alone. The company has a commitment to deploy at least $25 billion toward these uses through 2025.

To manage external pressures, supply chain management costs are factored in, particularly due to trade uncertainty. Honeywell estimated its exposure to tariffs in place today to be about $500 million for 2025 before any mitigation measures were taken. The company is using strategies like raising prices and focusing on local markets to offset this, which impacts the overall cost base.

Here is a snapshot of key cost-related financial metrics from the first half of 2025:

Cost/Expense Category	Period/Date	Amount (Millions USD)	Context/Notes
R&D Expenses	Q1 2025	$439	Against Net Sales of $9,822 million
Cost of Sales	Q2 2025	$6,329	Against Net Sales of $10,352 million
Total Costs and Expenses	Q1 2025	$7,938	Up from $7,234 million in Q1 2024
Share Repurchases	Q1 2025	$1,902	Part of $2.9 billion total capital deployment
Acquisition Cost (Sundyne)	Q1 2025	$2,200	Announced acquisition cost
Estimated Tariff Exposure	Full Year 2025 Estimate	$500	Before mitigation efforts

The company's overall capital allocation commitment through 2025 is substantial:

• Committed capital deployment target through 2025: $25 billion.
• Capital deployed in Q1 2025: $2.9 billion.
• Interest and other financial charges increased in Q1 2025 to $286 million from $220 million.
• The company is proceeding with planned separations, targeting completion in the second half of 2026.

Finance: draft 13-week cash view by Friday.

Honeywell International Inc. (HON) - Canvas Business Model: Revenue Streams

Honeywell International Inc.'s revenue generation is heavily weighted toward its core industrial and aerospace technology segments, with a growing emphasis on recurring software and high-margin services.

Full-year 2025 sales are projected between $40.7 billion and $40.9 billion, reflecting an organic sales growth target of approximately 6% for the year, even after accounting for the Solstice Advanced Materials spin-off impact of $700 million in expected reduced 2025 sales.

The core of the revenue base comes from product and solutions sales across its operating segments, as evidenced by the third-quarter 2025 reported sales:

Segment	Q3 2025 Reported Sales
Aerospace Technologies	$4.51 billion
Industrial Automation	$2.27 billion
Building Automation	$1.88 billion
Energy and Sustainability Solutions	$1.74 billion

Licensing and technology fees from UOP process technology form a distinct, though sometimes volatile, revenue stream. In the second quarter of 2025, UOP saw growth of 16%, driven by strong petrochemical catalyst shipments and higher licensing sales volumes in gas processing. However, this trend reversed in the third quarter of 2025, where UOP sales declined 13% due to anticipated licensing delays and lower catalyst shipment volumes, which were only partially offset by growth in sustainability solutions. This segment's revenue is being strategically bolstered by the announced agreement in May 2025 to acquire Johnson Matthey's Catalyst Technologies business for approximately £1.8bn, which directly consolidates process-technology licensing under Honeywell's UOP/ESS umbrella.

Software-as-a-Service (SaaS) subscriptions from Honeywell Forge are a key component of the company's strategy to increase recurring revenue streams. Management noted encouragement from the execution of connected offerings through the Honeywell Forge platform, driving increased recurring revenue in the portfolio. While specific 2025 SaaS revenue is not explicitly detailed, the overall company reported 38% recurring revenue in 2024, indicating the significance of this model.

Long-cycle service and aftermarket revenue, which is typically high-margin, is a critical driver, particularly within Aerospace Technologies. Commercial aftermarket sales in the third quarter of 2025 increased 19% from the previous year, supported by ongoing supply chain unlock across business jet and air transport end markets. The acquisition of the catalyst manufacturing and aftermarket services unit from Johnson Matthey is also set to expand Honeywell's ability to sell integrated catalyst supply alongside licensed process technologies.

• Product sales include engines, control systems, and sensors across the four main segments.
• The backlog stood at a record high following Q3 2025, with orders rising 22% organically from the previous year to $11.9 billion.
• Aerospace Technologies saw double-digit organic sales growth in Q3 2025, increasing 12% organically year-over-year.
• Building Automation organic sales increased 7% in Q3 2025.