Honeywell International Inc. HON was recognized by the American Institution of Aeronautics and Astronautics (AIAA) with the Distinguished Institution award during an awards banquet in Prague, Czech Republic. The award is a part of the AIAA Digital Avionics Systems Conference held annually.
The award reflects the conglomerate's exceptional achievements and significant contributions that concentrate on national aviation concerns.
The honour is a sign of Honeywell's dedication to state-of-the-art technologies, including its cockpit displays and flight management systems, which have significantly contributed to improving safety and air traffic management.
Honeywell has extended support to AIAA over the last two decades through sponsorships, dedicated volunteers and exhibits. Also, its efforts towards research and technology development and in developing critical safety technologies in order to tackle national aerospace priorities also contributed to Honeywell being chosen for this award.
Honeywell's forte lies in its aerospace safety technologies - including flight management systems, inertial navigation systems, Traffic Collision Avoidance Systems and Ground Proximity Warning Systems. The unit develops pioneering solutions for enhancing fuel efficiency in automobiles and airplanes, and is working toward ensuring more direct and on-time flights, safer flying and runway traffic. The company is also focused on upgrading aircraft engines, cockpit and cabin electronics, logistics and wireless connectivity services.
Almost every automaker and truck manufacturer around the world uses Honeywell's turbochargers, and its Aerospace products can be found on nearly every commercial, defense and space aircraft.
Just last week, Honeywell boosted its Aerospace capabilities with the acquisition of privately-held global aviation software company Aviaso. Aviaso offers indigenous software that analyzes data on aircraft fuel usage to identify possible avenues to cut costs and save highly expensive aviation fuel. It also offers software that helps identify possible causes of emissions as well as consulting and training for fuel efficiency and emissions management. Thus, Aviaso will help Honeywell in strengthening its comprehensive service offerings by adding the fuel management services to its portfolio.
Honeywell currently has a Zacks Rank #3 (Hold). Other stocks that look promising include Leidos Holdings, Inc LDOS , carrying a Zacks Rank #1 (Strong Buy), along with Engility Holdings, Inc EGL and Northrop Grumman Corporation NOC , carrying a Zacks Rank #2 (Buy).
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