Honeywell & Pinnacle Expand Connected Aircraft Solutions
Zacks Investment Research | Apr 02, 2018 10:14PM ET
Honeywell International Inc. (NYSE:HON) recently announced the expansion of its GoDirect connected services to the ground, which is one of the last unconnected aerospace frontiers. This latest move will take effect through a collaboration with the global telematics company, Pinnacle, and enable both the companies to connect an airport's ramp service to one single managed solution. Also, it will offer real-time insights into vehicle activity at the airport, resulting in greater fuel efficiency, better on-time performance and lower maintenance costs.
Notably, leverage of Pinnacle’s telematics hardware on ground vehicles will allow transmitting data that feeds into advanced software, thus making actionable data easily available for airlines as well as ground handlers. The collaboration will offer real-time insights into vehicle use & maintenance requirements and precise locations of all ramp operations thereby enhancing efficiency of ground operations. Moreover, this will allow airlines and ground handlers to use predictive maintenance for ground support equipment and observe planes’ reduced fuel costs owing to quicker turnaround times on the ground.
Existing Business Scenario
Honeywell is well-positioned to gain from long-term expansion in markets like aerospace, facility automation and automotive turbochargers on the back of its strong market share and product line-up. The company also continues to invest in innovative technologies that will help it maintain its leadership position. At the same time, as emerging markets seem to be expanding, the demand for the company’s construction, automobiles and airplanes products are expected to increase. Further, the management’s focus on reducing costs and improving productivity is anticipated drive higher profitability in future.
In the past year, this Zacks Rank #2 (Buy) company’s shares have returned 14.7% against the Zacks Investment Research
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