Press release
HONEYWELL AND BOMBARDIER SIGN LANDMARK AGREEMENT TO DELIVER THE NEXT GENERATION OF AVIATION TECHNOLOGY; HONEYWELL UPDATES 2024 OUTLOOK
Agreement includes collaborative research and development centered on Honeywell Anthem avionics, selection of more powerful engines, and next-generation
About this update from Honeywell International Inc.
[{"type":"text","content":"Agreement includes collaborative research and development centered on Honeywell Anthem avionics, selection of more powerful engines, and next-generation satellite communications technologies for Bombardier aircraftAftermarket offerings and new technologies provide Honeywell revenue potential of up to $17 billion over life of agreement All legacy pending litigation between the companies has been resolvedCHARLOTTE, N.C., Dec. 2, 2024 /PRNewswire/ -- Honeywell (NASDAQ: HON) announced the signing of a strategic agreement with Bombardier, a global leader in aviation and manufacturer of world-class business jets, to provide advanced technology for current and future Bombardier aircraft in avionics, propulsion and satellite communications technologies.\n\n \n \n \n \n \n \n\n \nThe collaboration will advance new technology to enable a host of high-value upgrades for the installed Bombardier operator base, as well as lay innovative foundations for future aircraft. Honeywell estimates the value of this partnership to the company at $17 billion over its life.\n\"This is a tremendous opportunity to co-innovate and advance next generation technologies, including Anthem avionics and engines,\" said Vimal Kapur, Chairman and CEO of Honeywell. \"Growing our long-term collaborative relationship with Bombardier is directly connected to Honeywell's focus on compelling megatrends -- automation, the future of aviation, and energy transition.\" \n\"This new partnership creates unprecedented opportunities for Bombardier,\" said Eric Martel, President and Chief Executive Officer of Bombardier. \"Honeywell's differentiated technology is the key reason we decided to collaboratively build a bright future with them.\"\nHoneywell and Bombardier will collaborate on the development of Honeywell avionics to provide unparalleled adaptability to specific mission requirements, enabling exceptional situational awareness and enhanced safety. In addition, the collaboration's propulsion-based workstreams will focus on evolutions of power, reliability and maintainability, led by the next-generation model of Honeywell's HTF7K engine.\n\"Working together, we will generate significant value for Bombardier's operator base by providing the latest technologies to enable safe and efficient flight,\" said Jim Currier, President and CEO of Honeywell Aerospace Technologies. \"...