Yahoo Finance Honeywell Unveils Analytics Platform for Aviation Industry
Honeywell International Inc. HON recently announced the introduction of a data-driven analytics platform — Honeywell Forge for the business aviation industry. Designed as a cost-effective solution to implement, the software solution will offer aviation companies with mission-management competences in several fields including flight operations, connectivity, navigation databases and maintenance.
Honeywell Forge empowers business aviation customers with a user friendly, integrated dashboard that helps in sending instant alerts on issues related to connectivity and flight plan changes. This helps customers to troubleshoot and solve flight related problems on an immediate basis, thus boosting their operational performance.
Notably, the company’s analytics platform will enable its business aviation customers to better understand fleet status, manage flight operations, apart from reducing operational costs and enhancing passenger experience.
Earlier, in June 2019, the company had announced the availability of Honeywell Forge for Buildings. The solution helps in avoiding unplanned downtime and provide advanced predictive information to make building facilities safer and more secure. Also, it reduces operating expenses of business owners and operators, enhance consumption of energy as well as improve space optimization management across a building portfolio.
Our Take
Growing popularity of Honeywell’s JetWave system, supported by solid orders for Honeywell Forge and strength in the company’s commercial aftermarket business are likely to support its Aerospace segment. Also, strong demand for commercial fire and building management products are likely to boost revenues of Building Technologies segment. Further, strength in process solutions business, and robust orders for UOP equipment and HPS projects are likely to keep boosting revenues of its Performance Materials and Technology segment.
However, persistent weakness in the company’s productivity products business and high long-term debt remain causes of concern.
Over the past year, the Zacks Rank #3 (Hold) company's shares have lost 23.5%, compared with industry’s decline of 21.9%.
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