HONEYWELL Presence in Critical Infrastructure Protection Solutions
Honeywell has adopted various business strategies, and it generates its revenue from 4 business segments: aerospace, home and building technologies, performance materials and technologies, and safety and productivity solutions. Honeywell gathers nearly 40% of its revenue from the home and building technologies, and safety and productivity solutions business units. The home and building technologies, and safety and productivity solutions business units cater a wide range of CIP systems and services. The company has a worldwide reach with regional and sales offices set up in every region. The company scores well in the breadth of applications category. It offers its products and services for airports, maritime, metro rails, industries, governments, and public events. The company has large numbers of channel partners who provide Honeywell’s products and services to clients across the globe. The company has ties with distributors, channel partners, consultants, and system integrators.
Honeywell’s revenue for 2017 has increased as compared to 2016, and the company has also increased its expenditure on R&D. The strategy of focusing on R&D activities has helped the company offer new products in the market and build a viable way of gaining new customers. Honeywell’s roadmap for 2016 included activities of partnerships, collaborations, and acquisitions, which immensely benefitted the company’s revenue. Honeywell would be interested in developing advanced software which will aid connect devices, industrial systems, and machines.
Honeywell is highly focused on organic growth strategies, such as new product launches, and inorganic growth strategies, such as partnerships, collaborations, and acquisitions. The company recently launched a safety software platform named Honeywell Sotera which will help customers enhance business productivity and lower administrative costs. The company also actively engages in partnerships and collaborations. Some of the partners who have benefitted the company are Seeq Corporation, Palo Networks Inc., and Fiber Sensys, Inc. Additionally, Honeywell has strengthened its position in the CIP market by acquiring Nextnine, Xtralis, and Intelligrated. These acquisitions have boosted the company’s CIP portfolio and helped the company provide advanced cybersecurity and workflow management solutions for industrial infrastructure.
With strong business strategies, worldwide reach, wide industry coverage, extensive channel partner network, and good roadmap strategies, the company has proved its position as a dominant player in the CIP market. Minor concerns that have affected the company are the effect of foreign currency fluctuations and retail distribution of safety and productivity solutions.