Honeywell Inks Strategic Agreement With Bombardier To Provide Advanced Technology

(RTTNews) - Honeywell (HON) Monday said it inked a strategic agreement with airplane maker Bombardier to provide advanced technology for current and future Bombardier aircraft in avionics, propulsion and satellite communications technologies.

The collaboration will advance new technology to enable a host of high-value upgrades for the installed Bombardier operator base, as well as lay innovative foundations for future aircraft.

Honeywell estimates the value of this partnership to the company at $17 billion over its life.

"This is a tremendous opportunity to co-innovate and advance next generation technologies, including Anthem avionics and engines," said Vimal Kapur, Chairman and CEO of Honeywell. "Growing our long-term collaborative relationship with Bombardier is directly connected to Honeywell's focus on compelling megatrends -- automation, the future of aviation, and energy transition."

"This new partnership creates unprecedented opportunities for Bombardier," said Eric Martel, President and Chief Executive Officer of Bombardier. "Honeywell's differentiated technology is the key reason we decided to collaboratively build a bright future with them."