Aerospace industry leader Honeywell Aerospace is set to become a publicly traded company based in Phoenix after being spun off from Honeywell International. The tax-free spinoff will result in three separate, publicly listed companies, each focused on distinct industries.
Honeywell Aerospace specializes in technology for commercial and defense aircraft, with $15 billion in revenue in 2024. It will remain headquartered in Phoenix, officials confirmed, as part of the company’s separation from its parent company.
The move is being hailed by economists and Arizona leaders as a win for the state’s economy. Sandra Watson, president and CEO of the Arizona Commerce Authority, said the spinoff allows Honeywell Aerospace to “serve as the launching pad for their next chapter” in Phoenix. Chris Mackay, Phoenix Community and Economic Development Director, described the decision as a relief that maintains the company’s headquarters in the city.
The separation will create three separate companies, each with its own industry focus. The move is expected to benefit employees, who may see future job opportunities as individual companies grow. Honeywell Aerospace plans to complete the separation by mid-2026 and will be tax-free for shareholders.
Arizona has a strong aerospace ecosystem, and the company’s decision to remain in Phoenix is seen as a boost to local industry development. “When the mothership is in your city,” Mackay said, “there is so much more connectivity to the community.” The move also positions Honeywell Aerospace to innovate in emerging areas like aircraft electrification and autonomy of flight.
Source: https://eu.azcentral.com/story/money/business/tech/2025/02/06/honeywell-to-split-into-3-companies-with-phoenix-aerospace-hq-to-stay/78289589007