MORRIS PLAINS, N.J., May 19, 2017 /PRNewswire/ -- Honeywell (NYSE: HON) will hold its Aerospace Investor Showcase today in Morristown, N.J. The Company will highlight its expectations for accelerating long-term organic growth in Aerospace due to increasing demand for its industry-leading technologies, wins on key OEM platforms, and broad portfolio of connectivity and service offerings.
"Since 2010, Honeywell has invested over $18 billion in Aerospace, and those investments are yielding returns, with a 75 percent win rate on new OEM platforms that we project are worth more than $55 billion in cumulative revenues to Honeywell over their platform lives," said Tim Mahoney, president and chief executive officer of Honeywell Aerospace. "Our industry-leading installed base, innovative new technologies, and improving end markets are expected to drive a 3-4 percent average growth rate over the next five years in Aerospace, with a long-term segment margin target of 25 percent."
"Connectivity will drive 'decoupled' growth, an Aerospace aftermarket sales strategy not bound by traditional aviation flight hours or aircraft production cycles," continued Mahoney. "We anticipate that more than 5,000 planes will be equipped with Honeywell broadband technology by 2018, bringing passengers and pilots the same reliable, high-speed Wi-Fi you get at home thanks to our JetWave™ satellite communications technology."
"In addition to the unprecedented number of big wins and double-digit growth in our services and connectivity portfolio, our long-term performance will be driven by mid-market carrier wins in high-growth regions, improving dynamics in the defense sector, and the eventual recovery of the business aviation market," Mahoney concluded. "We are optimistic about the Aerospace business, and proud of our continuing legacy of leadership and innovation."
Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft. The Aerospace business unit develops innovative solutions for more fuel-efficient automobiles and airplanes, more direct and on-time flights, safer flying and runway traffic, along with aircraft engines, cockpit and cabin electronics, wireless connectivity services, logistics, and more. The business delivers safer, faster, and more efficient and comfortable transportation-related experiences worldwide. For more information, visit www.honeywell.com or follow us at @Honeywell_Aero.
Presentation materials and webcast information for the Honeywell Aerospace Investor Showcase which starts at 9 a.m. today, are available at www.honeywell.com/investor. A replay of the webcast will be available following the presentation.
Honeywell (www.honeywell.com) is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally. Our technologies help everything from aircraft, cars, homes and buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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