(Bloomberg) -- Denso Corp. and Honeywell International Inc. have formed a 10-year partnership to build electric motors for new aircraft designed to move cargo and people across congested cities.
Denso, the top supplier to Toyota Motor Corp., and Honeywell, which makes engines and cockpit controls for jets and helicopters, have teamed up to tap an urban air mobility market the Charlotte, North Carolina-based industrial giant estimates could be worth $120 billion by 2030. The companies expect to have their first electric motors ready for flight tests about this time next year and they are in “advanced discussions with current and prospective customers,” according to a statement.
Large aircraft manufacturers, including Boeing Co. and Cessna-maker Textron Inc., and dozens of startups are racing to build electric-powered aircraft that take off like helicopters and fly like airplanes over longer distances as a way to alleviate congested roads. While the new designs would revolutionize how people and goods are transported, the aircraft have to win over regulators and overcome limitations from battery duration and weight.
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Denso and Honeywell said their electric motors will help make these new aircraft safer, more efficient, quieter and cleaner for the environment when compared with traditional helicopters and small aircraft. The partnership takes advantage of Denso's “ability to produce quality components at mass scale” coupled with Honeywell's aerospace experience, the companies said in the statement.
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