BIG GROWTH: UNMANNED AERIAL VEHICLES
|Source: Vertical Aerospace|
Capitalizing on Flying Taxis and Drone Deliveries
Honeywell International, a major aerospace supplier,
is launching a new autonomous aerial systems business unit. The strategic move is a bet on growth in the unmanned aviation market of flying taxis, packages and cargo delivered by unmanned vehicles and drones. Honeywell expects that business will grow into a $120 billion market by 2030. And Honeywell expects to get 20% of that market.
Honeywell's area of expertise is building aviation electronics and autonomous flight control systems. The company doesn't build the drones. It supplies aviation electronics and autonomous flight systems to customers like Germany's Volocopter, which is building eVTOLs (electric vertical takeoff and landing) flying taxis. Another customer is UK based Vertical Aerospace which has a prototype vehicle that can carry cargo up to 551 pounds and fly at 50 miles per hour.
Rising Drone Demand
Honeywell has seen demand for drone deliveries dramatically increase since the pandemic began. Their aim is to greatly accelerate their electronic and autonomous systems sales into the drone, autonomous cargo delivery and flying taxi markets.