In accordance with the partnership, Honeywell will collaborate with Supernal, Hyundai's eVTOL company based in the United States, to investigate the possibility of integrating the 'Anthem' flight deck from the aerospace supplier into the air taxis, which are expected to begin operating in 2028.

Even though they are still a long way from beginning commercial operations, electric air taxi manufacturers throughout the world have positioned themselves as green alternatives to help decongest cities, luring investments from industry titans like Delta Air Lines Inc DAL.N.

Because these cutting-edge aircraft can take off and land like helicopters and fly like aeroplanes, the U.S. Federal Aviation Administration (FAA) is still developing certification guidelines for them.

'We want the FAA's certification regulations to be released as soon as possible. Quickly, but with careful consideration, and with the goal of harmonising those regulations with those of EASA, 'Stephane Fymat, vice president of urban mobility and unmanned aerial systems at Honeywell, said in an interview with Reuters.

This year, the new sector has been burdened by difficulties in funding and obtaining certification for breakthroughs like new battery technology.

Supernal represents Honeywell's first partnership with an automaker-founded air taxi company. The company, which is a significant supplier to Airbus SE AIR.PA and Boeing Co BA.N, also has investments in Lilium, Vertical Aerospace, and Volocopter, three other eVTOL companies.

Fymat said Honeywell would think about making additional investments in the eVTOL industry. By 2030, the company anticipates the global market for air taxis to reach roughly $120 billion annually, Fymat continued.