Honeywell Aero to develop more defence products for Europe outside U.S. export controls

Bloomberg

Jul 09

U.S. supplier Honeywell Aerospace is looking to add more products designed without restricted U.S. technologies as mounting European defense spending drives demand for parts free from possible export ...

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restricted U.S. technologies as mounting European defense spending drives demand for parts free from possible export ...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/business/company-news/2026/07/09/honeywell-aero-to-develop-more-defence-products-for-europe-outside-us-export-controls/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0787776722.HKD","symbol_name":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) 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suppliers are also expected to discuss demand for parts not governed by U.S. International Traffic in Arms Regulations (ITAR) at the world’s largest air show later this month.There is increasing demand among European countries for ITAR-free systems due to concerns over Washington potentially blocking the re-export of sensitive U.S. components embedded in foreign weapons, according to defence officials and industry executives.Latest updates on company news hereHoneywell Aerospace is set to announce a new ITAR-free product for the international defense sector at the Farnborough Airshow in Britain later this month, a source told Reuters.The Arizona-based company declined to comment on an announcement. But it has tasked a combined 1,000 engineers in Poland and the Czech Republic to design ITAR-free technologies, its CEO Jim Currier told Reuters in an interview in late June.“Part of it is looking, acting, feeling and speaking like a European company,” he said of doing business in Europe.“Their main mantra, and drive and edict is to design non-ITAR technology for ... local strategy,” Currier said of the engineers at the company’s European subsidiary.It comes as U.S. companies such as dronemakers have been expanding in Europe, while the U.S. this week floated a new missile maintenance facility on the continent and two defence contractors discussed building ATACMS ballistic missiles for the first time in Germany.International expansionHoneywell Aerospace sees international exposure growing for its defence business, which accounts for about 40 per cent of company revenue and includes navigation systems and actuators for missiles. Last year, international sales accounted for about 30 per cent of the company’s defence business, up from around 18 per cent in 2020, Honeywell Aerospace said.Currier said Honeywell Aerospace was using the company’s global presence to scale ITAR-free navigational technology from its 2024 acquisition of Italy’s Civitanavi.“That has been the playbook. We are developing non-ITAR technologies for use in the EU and overseas for our partners in the Asia-Pacific region, like Japan and Korea,” he said.While European demand for ITAR-free components and parts has existed for years, geopolitical tensions between the U.S. and its NATO allies are underpinning greater calls for the technology.The Canadian government has said it was made aware during last year’s Paris Air Show of greater demand from European defence firms for North American suppliers free from U.S. ITAR restrictions, and such demand has led Canada to attempt further integration into European supply chains.Michael Iacovelli, CEO of Toronto-area aerospace and defence components supplier Ben Machine Products, said more than half of its work is now required by clients to be ITAR-free. In contrast, none of its work needed to be ITAR-free in 2018, he said.(Reporting by Allison Lampert in Montreal; Editing by Jamie Freed)Related StoriesHoneywell Aerospace rises in Nasdaq debutHoneywell reaffirms annual forecast ahead of aerospace spinoffHoneywell’s Quantinuum targets US$12.7 billion valuation in U.S. IPO","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}