CLAIM #30190 · Honeywell International Inc (HON) · 2023Q2 earnings call · Jul 27, 2023

“The OT Cybersecurity industry is expected to grow to greater than $10 billion in next several years”

Vimal Kapur · CEO

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In context

“bolster Honeywell's high growth sustainability and digitalization portfolio with new carbon capture control solution. CCC integrates seamlessly to our Process Solutions business and provides meaningful revenue synergy potential with Honeywell Forge. We are excited to extend Honeywell's leadership in automation and help customer accelerate the energy transition with the completion of this acquisition. We also acquired SCADAfence, an Israel based company that delivers operational technology or OT and Internet of Things or IoT cybersecurity solutions for monitoring large scale network. SCADAfence brings proven technologies in asset discovery, threat detection and security governance, which are key to industrial and critical infrastructure cybersecurity program into our [SCE] (ph) portfolio. The OT Cybersecurity industry is expected to grow to greater than $10 billion in next several years and the SCADAfence portfolio payer seamlessly with Honeywell's Cybersecurity business, providing an end-to-end enterprise solution that helps customers enhance enterprise resilience. In addition, we signed an agreement with Saab to acquire its heads-up-display or HUD asset, bolstering Honeywell's comprehensive end-to-end avionics and safety offering. We'll partner with Saab to develop and strengthen the HUD product line, which enables pilots, increase situational awareness, specifically at night or in difficult weather conditions. Importantly, the HUDs will be integrated into Honeywell Anthem, our revolutionary integrated flight deck with an intuitive user interface and highly scalable design, in addition to Honeywell's Primus Epic, flight deck and [Retrophage] (ph) solutions. I'm excited”

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SEC filings for HON ↗ · Quote is verbatim from the 2023Q2 earnings call.