This Research Note explores our assessment of Honeywell’s market position in the European building automation products market. We review the revenue mix for the Honeywell Building Automation division, examine the latest financial data of two subsidiaries, Trend Control Systems based in the UK and Saia-Burgess Controls based in Switzerland, concluding with our view of Honeywell’s business in the European market. Honeywell Building Automation Revenue Mix 2022 – 2024 Honeywell 2024 10-K Report Note that the product portfolio in the Building Automation division includes fire and security products as well as building controls. The acquisition of Carrier’s Global Access Solutions completed in June 2024 contributed $424 million to 2024 sales in the division`s equipment-agnostic products business, while improving the margin profile of the BA segment. In 2023 and 2024, Honeywell Building Automation reported lower organic product sales of $27 million and $124 million respectively, driven by lower sales volumes. While Honeywell does not report its […]
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