Honeywell, Hanwha Systems to Collaborate on Urban Air Mobility Development in South Korea

FARNBOROUGH, England, July 20, 2022 – Honeywell (NASDAQ: HON) and Hanwha Systems announced the signing of a memorandum of understanding (MOU) to collaborate on unmanned aerial systems and urban air mobility (UAS/UAM) technology development in South Korea. Based in South Korea, Hanwha Systems provides differentiated smart technologies in defense electronics and information infrastructure. Honeywell is a leader in UAS/UAM technology, offering a wide variety of ready-now technologies helping customers create a more sustainable future for aviation.

Under the terms of the MOU, Honeywell and Hanwha Systems will investigate various hybrid propulsion solutions for Hanwha Systems’ UAM platform and the application of Honeywell’s broader portfolio of competitive offerings designed to enable the UAS/UAM market.

“We are focusing all our efforts in developing UAM airframe, vertiport and transport management services to secure a leading position in global UAM value chains,” said Sungchul Eoh, CEO, Hanwha Systems. “By fully leveraging strengths with main players in the global aerospace industry, such as Honeywell, we are seeking to develop new business opportunities in this market.”

“Urban air mobility will revolutionize the future of transportation, drastically improving sustainability, transportation logistics and customers’ passenger experience,” said David Shilliday, vice president and general manager, Power Systems, Honeywell Aerospace. “We are excited to expand our work in this area through this collaboration with Hanwha Systems, a leading manufacturer of unmanned aerial systems in Korea.”

“Collaborating on the development of urban air mobility technology aligns with our customers’ defense modernization programs,” said Ricky Freeman, president, Defense and Space, Honeywell Aerospace. “Honeywell’s urban air mobility and electric propulsion systems play a critical role and are key enablers of the battlefield of the future.”

Hanwha Systems is committed to becoming a global UAM solution provider. From urban air transport systems and airframe development to takeoff and landing facilities, operation and maintenance systems to linked service applications, Hanwha Systems is exploring all opportunities to provide total solutions for future mobility.

Honeywell’s UAS/UAM technologies include avionics, navigation and sensors, flight control systems, electric and hybrid-electric propulsion solutions, connectivity, and other offerings. Honeywell has recently announced awards with market leaders Lilium and Vertical Aerospace in this market and is a recognized leader in advanced air mobility. This MOU marks Honeywell’s first venture to provide UAM solutions in South Korea.

Visit Honeywell’s advanced air mobility website for more information.

About Honeywell

Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft. The Aerospace business unit builds aircraft engines, cockpit and cabin electronics, wireless connectivity systems, mechanical components and more. Its hardware and software solutions create more fuel-efficient aircraft, more direct and on-time flights and safer skies and airports. For more information, visit www.honeywell.com or follow us at @Honeywell_Aero

Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

About Hanwha Systems

Hanwha Systems(https://www.hanwhasystems.com) provides differentiated smart technologies in defense electronics and ICT fields. Since its founding in 1977, the Hanwha Systems defense division has proven the efficacy of its weapons and has been credited for significantly advancing the defense capabilities of South Korea’s military. The company has consolidated its unrivaled position in the defense industry by securing advanced defense technology and system integration capabilities through a merger with an IT company in August 2018.

As a defense company that fulfills important missions in national security, Hanwha Systems continuously expands its business areas under the vision of becoming a “global defense electronics and ICT smart solution provider.” In addition, by combining advanced defense technology and ICT technology capabilities developed through defense electronics and ICT businesses, we provide customized solutions in various business areas such as urban air mobility (UAM) and low Earth orbit (LEO) satellite communications, and future smart ICT, helping our customers build the foundation for sustainable growth.