Honeywell is spending $500M to boost military tech production. What we know
Honeywell will invest $500 million to modernize and expand its manufacturing capacity of military technology as part of a multiyear contract with the Department of Defense.
Honeywell Aerospace is among the first major supply companies to sign a framework agreement like this with the department, the Charlotte-based tech and electronics manufacturing company said Wednesday.
Honeywell’s half-billion-dollar investment will upgrade its facilities, as part of a larger framework agreement with the U.S. government, Honeywell Aerospace CEO Jim Currier said. He said the company’s “efficient business system” allows it to “invest in advanced technologies and manufacture at scale and speed” to benefit the customer and taxpayers.
Honeywell Aerospace is based in Phoenix. Last year, Honeywell announced it was spinning off its Aerospace Technologies business. The spinoff is expected to be completed by the second half of this year.
The deal aligns with the Department of Defense’s Acquisition Transformation Strategy, with a goal to work directly with main suppliers to boost production capacity and attract private investment, Under Secretary for Acquisition and Sustainment Michael Duffey said in the department’s statement Wednesday.
Honeywell officials did not immediately respond to requests for further comment including potential job creation.
The collaboration comes 25 days after the U.S. and Israel attacked Iran to destroy Iran’s nuclear capabilities.
About 3,000 82nd Airborne Division soldiers stationed at Fort Bragg in Fayetteville are headed to the Middle East.
How Honeywell Aerospace will expand military tech manufacturing
Honeywell’s deal with the Defense Department is focused on ramping up production for defense components:
- Navigation systems: These guidance systems keep weapons and missiles on target.
- Missile controls: Known as Assure actuators, these are precise, speed-responsive electronic systems that control a missile’s movement and are designed to intercept or attack targets.
- Electronic war gear: This technology provides military vehicles, like fighter jets and some missiles, with systems that gather military information by tracking and analyzing enemy signals.
More about Honeywell spinoffs
Honeywell Aerospace will be headquartered in Phoenix, and trade on the Nasdaq under the ticker symbol “HONA.” As a standalone company, Honeywell Aerospace will have more than $15 billion in annual revenue for 2024, according to Honeywell.
Currier was named president and CEO of Honeywell Aerospace in November. In January, Honeywell named several business leaders for the aerospace company:
- Josh Jepsen joined Honeywell Aerospace as chief financial officer on Feb. 23. He formerly worked as senior vice president and chief financial officer for Deere & Co.
- Bob Buddecke is president and CEO of electronic solutions for the business. He has more than 27 years of leadership experience at Honeywell.
- Dave Marinick will become president and CEO of engines and power systems. He has more than 37 years at Honeywell in leadership and program management.
- Rich DeGraff will serve as president and CEO of control systems. His experience includes leadership roles prior to Honeywell, where he has been a leader in customer engagement and business growth.
Honeywell Aerospace has about 28,000 employees, according to the company.
The aerospace tech business is one of three spin-offs Honeywell announced last year that creates independent, publicly-traded companies.
The splits are designed to simplify Honeywell’s operating structures and create financial flexibility, according to the company.
Honeywell completed the spin-off of its advanced materials business, now known as Solstice Advanced Materials. It became a publicly traded company on Oct. 30. It is headquartered in Morris Plains, New Jersey.
Charlotte will be Honeywell’s automation business headquarters. That separation is also expected to be completed by the second half of this year.
Honeywell in Charlotte
Honeywell employs 97,000 people worldwide, including 1,150 in Charlotte. The company moved its global headquarters from New Jersey to Charlotte in 2018.
In December 2021, Honeywell officially opened its uptown headquarters on South Mint Street, across the street from Bank of America Stadium.
Vimal Kapur became CEO of Honeywell on June 1, 2023, succeeding Darius Adamczyk, and was appointed chairman in February 2024.
In September, Honeywell said it will invest $10 million to renovate the 1985 Burson Hall into the Honeywell Innovation Hub at UNC Charlotte. The investment includes student scholarships, research opportunities and endowed faculty positions to strengthen research and teaching at the college. The hub is expected to open in 2027.
Honeywell’s annual revenue last year was $37.4 billion, a 2.7% decline from 2024.
This story was originally published March 25, 2026 at 12:07 PM.
