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Honeywell International Inc. (HON - Analyst Report) received a contract for its Ground Systems and Mission Operations (GSMO) services from NASA's Goddard Space Flight Center (GSFC). The services will be used by the agency's fleet of scientific research satellites under this five year contract.

The goal of NASA’s research satellite program is to better understand important issues like planetary exploration, natural disaster characterization, climate change, ground topography mapping, agricultural efficiency, and electromagnetic effects on the earth. Services from Honeywell will increase the life of the existing research satellites and will enhance optimization of new satellites, providing aid to larger scientific space research activities in the future.

The contract will continue till October 2016, within which the company, apart from providing its GSMO services, will also develop concepts of operations, provide systems engineering, integrate and test new satellite ground systems from launch to orbit operations.

Honeywell has been working with NASA since its foundation, developing the US space program. The services from Honeywell will facilitate NASA to meet obligations on a wide range of undertakings of high significance for humans.

Based in Morris Township, N.J., Honeywell International Inc. is a Fortune 100 company providing technical and manufacturing support to customers worldwide. It also provides aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Major competitors of Honeywell are BorgWarner Inc. (BWA - Analyst Report), United Technologies Corp. (UTX - Analyst Report) and Johnson Controls Inc. (JCI - Analyst Report).

We currently maintain our Neutral rating on Honeywell, with a Zacks #3 Rank (Hold recommendation) over the next one-to-three months.

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