HONEYWELL will focus on providing solutions in a range of industries amid expectations that the company’s growth in revenue will outstrip that of Thailand’s economy over the next five years.
Briand Greer, president of Honeywell Asean, said that the company is joining with around 40 local partners provide its solutions - including oil and gas, aerospace, home and building technologies - as well as safety and productivity solutions for the market.
The firm provides oil and gas solutions to support industries, such as with industrial automation control as well as oil gas process technology in order to improve companies’ efficiency. For the aerospace sector, the firm provides aerospace products that are used on virtually every commercial and defence aircraft platform, such as electronic solutions and transport systems.
With the home and building technologies, the company offers products, software and technologies that help customers control their comfort, security and energy use with technologies ranging from environmental and building controls to security and fire alarm systems and smart grid solutions.
For safety and productivity solutions, the company offers various solutions such as automation and material handing solutions as well as productivity products.
“Honeywell is developing solutions that support growing infrastructure and improve the quality of life for people and the middle class around world,” Greer said. “We also have solutions that support the middle class, which we expect will increase from 1.8 billion to almost 5 billion people by 2030. Our solutions such as voice control wireless sensors and connected warehouse will help customers be better, faster and more efficient. We hope to very successful in the Thai market.”
He said that the firm would continue to invest in people, “so that they will help to increase productivity as a whole and Thailand is potential growth market”.
The company expects that by the end of this year it would have generated growth in revenue that exceeds the rate of expansion in Thailand’s gross domestic product.
He said that the government’s Thailand 4.0 vision is transforming the country into a value-based and innovation-driven digital economy. Thailand is in a strategic position with the Asean trading system as well as the global trading system.
“Thailand is a key strategic market among our high-growth regions. We expect our growth rate in this market to be well above Thailand's GDP growth over the next five years,” Greer said.
“Thailand's GDP grew by 4 per cent in the last quarter of 2017 and should keep rising this year.”