Honeywell announced its updated business segment structure ahead of the planned separation of its Aerospace Technologies business, expected in the second half of 2026, and its Solstice Advanced Materials business, expected to be completed on October 30, 2025.
Beginning with Honeywell's Q1 2026 quarterly earnings results, the company's reporting segments will be Aerospace Technologies, Building Automation, Industrial Automation, and Process Automation and Technology. The new segmentation is expected to take effect on January 1, 2026, and is the next step in evolving Honeywell's streamlined portfolio to unlock significant value and drive long-term growth.
Honeywell Aerospace Spin-off Progressing on Schedule
As an independent company, Honeywell Aerospace will be one of the largest publicly traded, pure-play aerospace suppliers, with leading positions in technology and systems that will continue to deliver the future of aviation through increasing electrification and autonomy of flight. Honeywell Aerospace's technology and solutions are used on virtually every commercial and defense aircraft platform worldwide and include aircraft propulsion, cockpit and navigation systems and auxiliary power systems.
The Aerospace Technologies business will continue to report results as a Honeywell business segment until the completion of its separation, which is on track for the second half of 2026.
"Building on its legacy of shaping the future of aviation, Honeywell Aerospace is poised to further solidify its position as a leader in commercial aerospace, defense and space markets as it transforms its business in this next chapter as a standalone company," said Vimal Kapur, Chairman and CEO of Honeywell.
Honeywell Unveils Updated Business Segment Structure
Following the spin-off of its Aerospace Technologies business, Honeywell will be the global leader of the industrial world's transition from automation to autonomy, with a comprehensive portfolio of outcome-based technologies, solutions and software to drive customers' productivity. Honeywell will connect assets, people and processes to power digital transformation, building on its decades-long technology leadership positions, deep domain experience and vast installed base.
Honeywell will have three reportable business segments after the spin-off of the Aerospace Technologies business:
- Building Automation (BA): Honeywell is transforming the way buildings and infrastructure operate with best-in-class, multi-domain expertise and a portfolio of solutions and services that are used in millions of buildings worldwide for fire prevention, controls, access and security. By providing unified building automation solutions across hardware, software, sensors and analytics, we help our customers convert buildings into safe, sustainable and integrated assets.
- Industrial Automation1 (IA): Honeywell's critical offerings serve as the fundamental building blocks of industrial automation. Our world-class sensor technologies and high value-added smart edge devices offer proven reliability and differentiated connectivity across a variety of sensing and measurement applications.
- Process Automation and Technology (PA&T): Honeywell offers a comprehensive portfolio of end-to-end Process Automation solutions that make it self-sufficient in the industrial lifecycle and help accelerate customers' digital transformations. We also offer the Process Technology solutions that enable the energy evolution, enhance efficiency, precision and reliability, reduce emissions and facilitate the circular economy.
"For more than a century, Honeywell has been at the forefront of automation innovation, redefining what is possible for the industrial sector. Now, we are transforming our business to lead the journey to a connected autonomous future for our customers," added Kapur.
Kapur concluded: "The wealth of data we now have access to from our massive global installed base is unprecedented in the industrial sector – and today, we are evolving to unlock the power of that data to help our customers solve their most complex challenges. From buildings and industrial sites to process environments, our customers all share a common set of needs that our portfolio of end-to-end automation solutions is built to both address and anticipate."
Following the spin-off, Honeywell's businesses will continue to be led by Billal Hammoud as president and CEO of Building Automation; Peter Lau as president and CEO of Industrial Automation; Jim Masso as president and CEO of Process Automation; and Ken West as president and CEO of Process Technology. Each of these leaders will report to Vimal Kapur, who will continue to serve as Chairman and CEO of Honeywell following the spin-off.
Honeywell's Portfolio Optimization
On February 6, 2025, Honeywell announced its intent to pursue a full separation of its Aerospace Technologies business, which is expected to be completed in the second half of 2026 in a manner that is tax-free to Honeywell shareholders for U.S. federal income tax purposes. This follows Honeywell's earlier announcement on October 8, 2024 of its plan to spin-off its Advanced Materials business, now known as Solstice Advanced Materials, into an independent, U.S. publicly traded company. Solstice's planned spin-off from Honeywell is expected to be completed on October 30, 2025.
