Thermostats and jet engines seem worlds apart, but they coexist at Honeywell International. 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).


Honeywell reorganized its segments during 2014 when it sold its Friction Materials business unit (part of its former Transportation Systems segment) to Federal-Mogul Corporation for $155 million. Transportation Systems was later folded into Aerospace (39% of net sales). Other segments include Automation and Control Solutions (ACS; 37% of total sales) and Performance Materials and Technologies (PMT; 24%).

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 62% of sales. Other key international markets are Canada and Latin America.

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 2015, while commercial aerospace OEMs generated 8%. Commercial aftermarket customers of aerospace products accounted for 12%.

Financial Performance

After posting record-setting revenues of $40.3 billion in 2014, Honeywell saw its revenues drop 4% to $38.6 billion in 2015. Its net income, however, surged 12% from $4.2 billion in 2014 to $4.7 billion in 2015 due to a decrease in direct and indirect material costs.

The revenue drop for 2015 was fueled by decreases across all its segments. Performance Materials and Technologies sales decreased due to lower organic sales volumes primarily due to weakness in projects and field products and the unfavorable impact of foreign currency translations.

Honeywell's operating cash flow increased by 9% in 2015 compared to 2014, primarily due to changes in inventories, other current assets, and accrued liabilities.


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 its former Transportation Systems segment) to Federal-Mogul Corporation for $155 million. Two years later, the company sold Honeywell Technology Solutions to KBR for some $300 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 early 2016, Honeywell was engaged in talks to merge with industry powerhouse United Technologies Corp. in a merger valued at around $90 billion. The talks ended, however, after United Technologies refused to explore the deal further, fearing that the massive transaction could not clear steep regulatory hurdles.

In 2015 Honeywell completed its $185 million acquisition of Datamax-O'Neil, a global manufacturer of fixed and mobile printers used in a variety of retail, warehouse, and distribution, and health care applications. The addition of Datamax-O'Neil to its portfolio enhanced its position within the global barcode printing segment.

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534 Fellowship Rd
Mount Laurel, NJ 08054-3405
Phone: 1 (856) 228-8100


  • Employer Type: Public
  • Ceo: Darius Adamczyk
  • Vice President gen Cnsl: Bruce L Harrison
  • V Pres, Asia Pacific: Henri Juvanon
  • Employees: 1,400

Major Office Locations

  • Mount Laurel, NJ

Other Locations

  • West Deptford, NJ