(Bloomberg) Honeywell International Inc. has announced its own breakthrough in quantum technology. “We have a very unique technology that we believe is as good or better than anything that’s out there today,” Chief Executive Officer Darius Adamczyk said Tuesday. The company pegs the potential market for quantum-computing technology at $50 billion.
Honeywell’s approach to quantum computing employs electromagnetic fields to trap charged atoms that can be encoded using microwave signals and lasers. The company’s experience with control-system hardware gives it an edge over competitors, Honeywell said.
Honeywell joins other technology companies, including Microsoft Corp., Google parent Alphabet Inc. and International Business Machines Corp., in the quest to harness the power of a new kind of multitasking computer bit dubbed a qubit. Traditional bits function in either an off or on state, characterized as being “0” or “1.”
Honeywell’s quantum project is far enough advanced that Adamczyk said he expects it to generate revenue “late this year or next year.”