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• Google Nest for commercial and industrial buildings
• The 'Intel Inside' for smart building infrastructure
• General Electric (GE) for building technology systems

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• Building Management Systems: Integrated platforms that control and optimize a building's various systems, including HVAC, lighting, security, and power.
• HVAC Equipment: A broad range of heating, ventilation, and air conditioning products designed for comfort, air quality, and energy efficiency in commercial and industrial buildings.
• Fire & Security Solutions: Comprehensive systems for fire detection, suppression, access control, and video surveillance to protect people and assets.
• Building Services: Installation, maintenance, repair, and upgrade services for HVAC, fire, security, and building automation systems throughout their lifecycle.

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Johnson Controls International (symbol: JCI) primarily sells its products and services to other companies and organizations (B2B), rather than directly to individuals.

Given the diverse and fragmented nature of its customer base across various industries and geographic regions, JCI does not typically have a few named "major customer companies" that represent a significant portion of its revenue. Instead, it serves a broad spectrum of commercial, industrial, and institutional clients. Its primary customers can be categorized as:

• Building Owners and Operators: This includes owners and facility managers of commercial office buildings, retail establishments, hotels, entertainment venues, and other commercial properties globally. They purchase JCI's HVAC systems, building management systems, fire suppression, security solutions, and related services for new installations, retrofits, and ongoing maintenance.
• Industrial and Critical Infrastructure Clients: Manufacturers, data center operators, logistics companies, and other industrial enterprises utilize JCI's solutions for process efficiency, climate control, energy management, and operational security within their facilities.
• Institutional and Governmental Entities: Hospitals, universities, K-12 schools, and various governmental bodies (municipal, state, and federal) rely on JCI for essential building systems, energy efficiency solutions, and smart building technologies to manage their extensive portfolios and ensure occupant comfort and safety.
• Contractors and Developers: JCI works extensively with general contractors, mechanical contractors, and real estate developers who integrate JCI's products and systems into new construction projects and major renovations.

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Joakim Weidemanis Chief Executive Officer

Joakim Weidemanis became Chief Executive Officer of Johnson Controls in March 2025. He is described as a seasoned operator with a successful track record in leading global technology-driven businesses and delivering profitable growth. Prior to joining Johnson Controls, Mr. Weidemanis held several executive leadership roles over a 13-year career at Danaher Corporation, across healthcare, industrial, and utility technology businesses, most recently serving as Executive Vice President, Diagnostics and China. Earlier in his career, he held executive positions of increasing operational responsibility at Mettler Toledo and ABB.

Marc Vandiepenbeeck Executive Vice President and Chief Financial Officer

Marc Vandiepenbeeck assumed the role of Executive Vice President and Chief Financial Officer in January 2024. He joined Johnson Controls nearly 20 years ago, holding roles of increasing responsibility across the company's leadership, finance, and treasury teams. His previous positions at Johnson Controls include President of Building Solutions EMEALA and Vice President and Chief Financial Officer for the Building Solutions North America business. Mr. Vandiepenbeeck has also served as a board member for multiple companies, including BlinkTech LLC, and co-founded Whitewater Analytics LLC, which provides decision-support solutions. His prior experience includes positions at PricewaterhouseCoopers as a Senior Auditor and in business development at Volcano Therapeutics Inc.

Chris Bontempo Chief Marketing Officer; Vice President

Chris Bontempo serves as Vice President and Chief Marketing Officer for Johnson Controls. Before this, he was the Chief Marketing & Communications Officer of Americas at IBM.

Vijay Sankaran Chief Digital and Information Officer; Vice President

Vijay Sankaran is Vice President and Chief Digital and Information Officer. He joined Johnson Controls in 2021 as Vice President & Chief Technology Officer. Prior to Johnson Controls, he served as the Chief Information Officer and Head of Innovation at TD Ameritrade, and he also held executive roles at Ford Motor Company.

Marlon Sullivan Executive Vice President; Chief Human Resources Officer

Marlon Sullivan has been the Executive Vice President and Chief Human Resources Officer of Johnson Controls since 2021. Previously, he was the Senior Vice President of Human Resources at Delta Airlines, and prior to that, he held various human resources and talent development leadership roles at Abbott Laboratories from December 2007 through December 2020.

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The key risks to Johnson Controls International (JCI) include operational challenges stemming from an internal overhaul and restructuring, significant market competition coupled with economic headwinds, and increasing cybersecurity and technology risks.

1. Operational Risks due to Internal Overhaul and Restructuring: Johnson Controls is undergoing a major internal overhaul, including the rollout of a new proprietary business system, which carries inherent operational integration risks. This strategic shift is expected to incur a multi-year restructuring expense of approximately $400 million, putting pressure on near-term margins. The company is also experiencing escalating Selling, General, and Administrative (SG&A) expenses due to organizational realignment and transformation costs.
2. Market Competition and Economic Headwinds: JCI faces substantial exposure to global market conditions, including intense competition, particularly in the data center market where it is a leader in advanced thermal management. There is a risk of losing market share as competitors enhance their capacity and innovation. The company has also experienced regional weaknesses, particularly in the Asia Pacific (APAC) region, with declining sales volumes in China. Broader economic uncertainties, such as interest rate fluctuations and general economic downturns, can reduce demand for JCI's products and services, leading to delays or shrinkage of large capital projects.
3. Cybersecurity and Technology Risks: As Johnson Controls increasingly relies on interconnected device networks for its solutions, it faces significant security and safety risks. These risks could result in regulatory fines, the theft of intellectual property, and damage to the company's reputation. The company recently disclosed a cybersecurity incident that disrupted its operations and affected parts of its IT infrastructure, with some aspects remaining vulnerable. The ability to maintain the capacity, reliability, and security of its enterprise and product information technology infrastructure is crucial for its ongoing operations.

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The clear emerging threat for Johnson Controls International (JCI) is the rapid emergence and adoption of software-first, cloud-native, and AI-driven smart building platforms. These platforms, often developed by agile technology companies, focus on aggregating data from various building systems (HVAC, fire, security, lighting, etc.) regardless of vendor, providing advanced analytics, predictive maintenance, energy optimization, and enhanced occupant experiences through open, interoperable interfaces. This trend threatens JCI's traditional business model, which has historically relied on vertically integrated, proprietary hardware, controls, and associated installation and maintenance services. As these new platforms gain traction, they could commoditize JCI's core hardware and legacy Building Management Systems (BMS), shifting the primary value proposition towards data insights and interoperable software solutions, similar to how Netflix disrupted Blockbuster by offering a superior, platform-based content delivery model.

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Johnson Controls International (JCI) operates in several key markets related to smart building technologies and solutions, including HVAC systems, fire protection, security systems, and building management systems. The addressable market sizes for these main products and services are outlined below:

• HVAC Systems (Heating, Ventilation, and Air Conditioning)

  • The global HVAC systems market was estimated at USD 241.52 billion in 2024 and is projected to reach USD 445.73 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 7.0% from 2025 to 2033. Other estimates place the global market size at USD 289.99 billion in 2024, increasing to approximately USD 407.77 billion in 2030, with a CAGR of 6.4% from 2025 to 2030. Another report projects the global market to grow from USD 233.33 billion in 2025 to USD 403.06 billion by 2034, expanding at a CAGR of 6.27%. The global HVAC market is also projected to reach $346.7 billion by 2028, growing at a 5.6% CAGR from $263.6 billion in 2023.

  • The U.S. HVAC systems market is projected to reach an estimated value of USD 62.03 billion by 2032.
  • The global HVAC controls market is projected to grow from USD 25.81 billion in 2025 to USD 39.07 billion by 2030, growing at a CAGR of 8.6%.

• Fire Protection Systems

  • The global fire protection system market is projected to reach USD 85.06 billion in 2025 and USD 118.14 billion by 2030, registering a CAGR of 6.8%. Another source calculates the global market size at USD 95 billion in 2025 and projects it to surpass approximately USD 171.73 billion by 2034, expanding at a CAGR of 6.8% from 2025 to 2034. The market is also expected to reach $122.7 billion by 2030, rising at a market growth of 6.5% CAGR.
  • The U.S. fire protection system market size was estimated at USD 25.94 billion in 2024 and is projected to grow at a CAGR of 3.6% from 2025 to 2030.

• Security Systems

  • The global physical security market is projected to grow from USD 120.79 billion in 2025 to USD 151.50 billion by 2030, at a CAGR of 4.6%.

• Building Management Systems (BMS) / Building Automation Systems (BAS)

  • The global Building Management System market is projected to increase from USD 23.3 billion in 2024 to USD 108.5 billion by 2035, reflecting a CAGR of 15.02% from 2025 to 2035. Other data indicates the global market size was estimated at USD 20.25 billion in 2024 and is predicted to increase from USD 23.29 billion in 2025 to approximately USD 82.01 billion by 2034, expanding at a CAGR of 15.01%. Further analysis suggests the market stands at USD 202.29 billion in 2025 and is forecast to reach USD 347.05 billion by 2030, reflecting an 11.40% CAGR. The global building automation industry is valued at nearly $100 billion and is expected to grow 11–12% annually through 2029.

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Johnson Controls International (JCI) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market trends:

1. Strong Organic Sales Growth in Building Solutions and HVAC: The company anticipates mid-single-digit organic sales growth for fiscal years 2025 and 2026. This growth is primarily fueled by robust performance in its Building Solutions North America segment and sustained demand for Applied HVAC & Controls offerings.
2. Increased Demand in Data Centers: JCI is capitalizing on its technological leadership in advanced data center cooling and thermal management solutions. Strong customer engagement and demand in the data center vertical are expected to be significant revenue contributors.
3. Growth in Service Business and Record Backlog: Johnson Controls has a record backlog for its systems and services, which experienced substantial organic growth year-over-year. This strong backlog provides significant revenue visibility for the coming years, while the service business itself is a key driver due to high customer retention and favorable margins.
4. Decarbonization and Sustainability Solutions: The company's focus on differentiated solutions that enhance efficiency and sustainability in commercial buildings, including its leadership in decarbonization efforts, is resonating with customers. This trend towards green building and energy efficiency is expected to contribute to revenue growth.
5. Operational Efficiencies and Proprietary Business System: The successful implementation and ongoing evolution of JCI's proprietary business system are driving operational efficiencies and contributing to overall performance. These improvements support margin expansion and enable the company to effectively capture market opportunities, indirectly boosting revenue growth.

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Share Repurchases

• In fiscal year 2023, Johnson Controls repurchased approximately $625 million of its shares.
• The company's buybacks in fiscal year 2024 amounted to $535 million.
• In June 2025, the board approved a $9 billion share repurchase authorization, augmenting the $1.1 billion remaining from a previous 2021 authorization. An accelerated share repurchase program of $5 billion was initiated in August 2025, leveraging proceeds from a divestiture and is expected to conclude in the second quarter of fiscal year 2026.

Share Issuance

• No significant net share issuance activity was highlighted as a major capital allocation decision in the provided information, with the company's focus over the last five years being on reducing its share count through repurchases, shrinking it by 14.2%.

Outbound Investments

• Johnson Controls made a strategic investment in Accelsius, a company specializing in data center liquid cooling.
• The company has recently been active in the mergers and acquisitions market.

Capital Expenditures

• Capital expenditures averaged $484.4 million from fiscal years 2020 to 2024, peaking at $552 million in 2021.
• Projected capital expenditures are approximately $520 million for fiscal year 2024, with a modest increase expected to $596 million in fiscal year 2025.
• The primary focus of these capital expenditures is directed toward sustaining and optimizing its global manufacturing base, advancing digital capabilities, and supporting innovation in HVAC systems, building automation, and energy optimization solutions.