Thermostats and jet engines seem worlds apart, but they're the wind beneath Honeywell International's wings. More than a century old, the company is a diverse industrial conglomerate with four segments the largest are Automation and Control Solutions (ACS -- making HVAC and manufacturing process products) and Aerospace (turbo engines and flight safety and landing systems). Additional segments include Performance Materials and Technology (PMT, formerly Honeywell Specialty Materials, thermal switches, fibers, and chemicals) and Transportation Systems (engine boosting systems and brake materials).

Geographic Reach

Honeywell has approximately 1,300 manufacturing, research, and sales offices and facilities; more than 40% of its products are manufactured in Asia and Europe, and the US represents about 60% of sales. Other key international markets are Canada and Latin America.


Honeywell's segments include Automation and Control Solutions (ACS; 42% of total sales), Aerospace (31%), Performance Materials and Technologies (PMT; 17%), and Transportation Systems (10%).

Sales and Marketing

Honeywell distributes its building control products through independent contractors and distributor channels throughout North America. Sales to the US government accounted for 10% of its total sales in 2013, while commercial aerospace OEMs generated 7%. Commercial aftermarket customers of aerospace products accounted for 11%.

Financial Performance

Honeywell has enjoyed four straight years of unprecedented growth. Its revenues rose by 4% from $37.8 billion in 2012 to $39.1 billion in 2013. Its net income surged 34% from $2.9 billion in 2012 to $3.9 billion in 2013. Both these totals represented historic milestones for the company.

The revenue growth was driven by increases in PMT (9%), ACS (4%), and Transportation Systems (5%) sales, due to acquisitions and organic growth. It also benefited from an almost 8% rise in European sales during 2013. The spike in net income was the result of lower sales, general, and administrative expenses coupled with the higher revenue growth.


For all its segments Honeywell is focusing on several issues and initiatives, including expanding in such emerging area as China, India, Eastern Europe, Latin America, and the Middle East; managing raw material costs through hedging; staying alert for liquidity issues among suppliers and customers; and controlling costs related to asbestos and environmental matters.Over the last few years it has launched new facilities in China, Malaysia, and India.

Honeywell's strategy for this growth also includes both acquisitions and the divestiture of under-performing units. In 2014 Honeywell  sold its Friction Materials business unit (part of the Transportation Systems segment) to Federal-Mogul Corporation for $155 million.

Spurred by an aggressive acquisition strategy (possibly spending $10 billion or more through 2018), the company hopes to increase its revenues to $59 billion by 2018.

Mergers and Acquisitions

During 2013 Honeywell spent about $1 billion on acquisitions. Halfway through the year, it acquired RAE Systems for $340 million. RAE Systems makes intelligent gas and radiation detection systems that allow for real-time safety and security threat detection. Months later, Honeywell purchased Intermec, a maker of bar code scanners, RFID readers, mobile and fixed vehicle computers, printers, and label media, for $600 million. Both companies were integrated into Honeywell Analytics, a part of Honeywell Life Safety in Honeywell Automation and Control Solutions.

Honeywell made several acquisitions in 2012 that expanded its energy product portfolio. It picked up INNCOM, a software maker catering to the lodging, health care, and education sectors. Shortly after, it obtained a 70% stake in Thomas Russell, a manufacturer of natural gas processing equipment, for $525 million. It also purchased Saia-Burgess Controls, a provider of building controls technology, for $130 million

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700 Visions Dr
Skaneateles Falls, NY 13153-5312
Phone: 1 (315) 554-6000


  • Employer Type: Public
  • Chm: Darius Adamczyk
  • Cfo-contrl: Joseph Hennigan
  • Chb: John F Waldron

Major Office Locations

  • Skaneateles Falls, NY

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