Honeywell International Inc’s (HON - Analyst Report) technologies helped Bombardier CSeries aircraft in its first take of. As one of the major suppliers, Honeywell ensured advanced navigation, fuel efficiency and safety for the CSeries aircraft by providing the Auxiliary Power Unit (APU), LASEREF VI Inertial reference unit and emergency locator transmitter (ELT). The CSeries line of aircrafts are primarily designed for the long range, single-aisle, 100 to 149 seat market at the lowest operating cost in its class.
An APU is a gas turbine engine that is a source of bleed air and AC electrics for the aircraft, which gives an aircraft the independence during turnarounds, provides it with electrical backup in the event of engine failure and provides air conditioning & pressurisation when an engine bleeds off during take-off. The LASEREF VI Inertial Reference Unit is an all-digital, high-performance ring laser gyro system used for inertial navigation, which facilitates safe and accurate landing while reducing the operational and maintenance costs for the CSeries aircraft. The emergency locator transmitter helps in the detection and location of aircraft and people in distress. The CSeries aircraft family combines advanced materials, leading-edge technology and proven methods to meet commercial airline requirements.
Prior to this, Honeywell has being supplying engine components to all the commercial aircraft series of Bombardier. These include the CRJ series, Q-Series and now the CSeries.
Honeywell Aerospace is a leading provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, space and airport operations, globally. In the latest reported quarter, Aerospace segment sales dipped 1% year over year to $3.0 billion primarily due to a decline in the Defense and Space business, partially offset by Commercial Growth.
Honeywell currently has a Zacks Rank #3 (Buy). Other stocks that look promising and are worth a look are Hutchison Whampoa Ltd. (HUWHY), carrying a Zacks Rank #1 (Strong Buy), and ITT Corporation (ITT - Analyst Report) and Federal Signal Corp. (FSS - Snapshot Report), both carrying a Zacks Rank #2 (Buy)