Starting a few years back, there is less and less allocation for research and development. I am ashamed when I see how much that amount has been reduced. As this industry goes through major changes, innovation should take a center stage, but there doesn’t seem to be much vision in this company. They seem to have underestimated the benefits of investing in R&D?
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Y’all sound like you’re only considering Aero like it’s all of honeywell
I see two comments here with a ton of down votes already but they’re right. You’re not seeing the spending because there’s so much investment going to other parts. I’m in a role where I can see money going into innovation in Sensing, Productivity, Uop/PMT sustainability, buildings and connected.
I’m sure they’re pulling out of aero because of market conditions and overall the budget size would have decreased because of covid and associated factors but let’s not say Honeywell isn’t making any investments. It is. There’s massive push for Z21 in every division and more verticalization across every business
Two generations ago, United Aircraft (parent of Pratt & Whitney, now merged with Raytheon) risked TWO THIRDS of their corporate capitalization to commit to the emerging technology of gas turbine engines. That bold move preserved UA's future for the next 60+ years. Sadly, there is not a soul in HON's senior management with the b*lls to steer our company's future today as those brave folks did so long ago.
Our group has nothing going on for the future. We have been talking amongst ourselves that is is strange that there is zero R&D and there isn't even an R&D group anymore since downsizing in the past couple of years. I worry but will be out of there soon.
Future shaper are I. Thinking about getting out for my own future that is...
It's called milking the cash cow until it udderly collapses.
Agree that R&D funding has been focused on high revenue generating adjacencies/projects, which is a great strategy. But in these new areas, we don’t have any experienced folks (from scientists to VPs), which had led to big and bold messages by the LT but projects have missed gates and are being stretched without any revenue. Hoping that we will learn by our mistakes and meet these revenue targets in double/triple timeframe than planned earlier.
https://www.statista.com/statistics/594254/research-and-development-expenses-of-honeywell/
Data not speculation.
Honeywell spending was approximately stable until 2018.
Then a distinct 15% per year cut.
Given the very steady rate of the cuts I would say this is a directive by the CEO.
probably feels he was not getting sufficient return on a $1.8B / year investment.
R&D investments are being made to the tunes of 100 of millions by Honeywell. Only thing we, as in Honeywell staffers, don't see it as its made to external companies. Go read the business times of the many investment ventures that Honeywell has made these few months and you'll be surprised.
As much as it pains me ... my observation is that you are largely wrong.
There is actually MORE R&D funding.. it just is flowing to areas that are generating revenue.
Perhaps you should ask how much ROI your department returned to the bottom line in the last few years.
I got laid off waiting for "advanced tech" to deliver new tech to productize and sell.
thanks for that.
This is one of the main reasons I’m embarrassed by the whole future shaper crud. You need to invest in the future to shape it...
Its been in decline for quite some time. As they say, "Go East, Young Man."
What do you mean 'no vision'?
More lay offs, more OT, off shoring jobs, bigger bonusses for the execs..... This is the vision.
The future is what you fake it!