2024 U.S.-Booked Air Volume: $73 million
Consolidated Global TMC: FCM
Honeywell’s air spend in the U.S. increased marginally to $73 million in 2024, according to a BTN estimate.
The industrial conglomerate is on the verge of being broken up. Honeywell has announced that its advanced materials business will be spun off under the name Solstice Advanced Materials, a move expected to be complete in the final quarter of 2025. That will be followed in the second half of 2026 by the remainder of the company splitting into two businesses: Honeywell Automation and Honeywell Aerospace. The three companies will trade separately as publicly listed entities.
Ahead of the restructure, Honeywell has been growing through $13.5 billion of acquisitions announced since December 2023. Honeywell also divested its personal protective equipment business for $1.3 billion in May 2025. Sales across the entire conglomerate climbed to $38.5 billion in 2024 from $36.7 billion in 2023.
Honeywell’s emissions resulting from business travel rose from 72,000 metric tons of CO2 equivalent in 2022 to 98,000 in 2023, out of a total of 15.6 million tons of Scope 3 emissions.