Honeywell International

RANK374

Known for making everything from cockpit controls to N95 masks, Honeywell dipped 27 spots, to No. 374, on this year’s Global 500 list. Revenues fell by 11.1% year over year, to $32.6 billion, as the pandemic grounded flights. Travel bans pummeled the company’s biggest business, aerospace, which includes selling commercial airplane parts to customers like Boeing and Airbus. Honeywell partially offset that turbulence by beefing up its warehouse automation unit, which supplies Amazon and others, and by spinning up new manufacturing lines for much in demand personal protective equipment. By the end of 2020, Honeywell had an enviable $15.2 billion in cash and equivalents on the balance sheet, which it could use for acquisitions.