On Monday, Honeywell International, a major supplier of aerospace products, said that it launched an unmanned aerial systems business. It will now bet on the autonomous aviation space such as air taxis, drones, and unmanned cargo delivery vehicles.
The head of their new business, Stéphane Fymat, said that the company expects the software and hardware market for drone cargo delivery, urban air taxis, and other drone businesses to reach nearly $120 billion by 2030. The market opportunity for the company will be around 20%. However, he did not say what percentage of the market they are targeting to capture.
American company doesn’t build drones but provides aviation electronics and autonomous flight control systems. The new business comes in the wake of the coronavirus pandemic which has created a surge in need and demand for drone deliveries.
Fymat has said that it’s accelerating the drone cargo delivery programs of some of its partners.
Some customers of the company include Intel-backed Volocopter, UK-based Vertical Aerospace, and Slovenia-based small aircraft maker Pipistrel. The company’s corporate venture arm has also successfully invested in an unmanned air traffic control system for drone’s developer Southern California’s AirMap and autonomous flight controllers developer Switzerland-based Daedalean.
Murray Grainger, Head of Honeywell Ventures, said “We’re not trying to bet on who’s going to have the best drone. We want to sell to everyone’s drones.”
Fymat said that the unit is working on a pilot project to use QR codes for autonomous landing. They are also developing a system that can help aircraft navigate the urban canyons where GPS might fail.