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MarketScreener Homepage  >  Equities  >  Nyse  >  Honeywell International Inc.    HON

HONEYWELL INTERNATIONAL INC.

(HON)
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Honeywell International : To Provide Pipistrel With Advanced Flight Control Technology For Unmanned Cargo Aircraft; 's fly-by-wire system will be the 'brains' of Pipistrel's Nuuva V300, providing the capability required for safe and efficient autonomous operation

10/21/2020 | 11:53am EST

PHOENIX - Pipistrel has selected Honeywell's (NYSE: HON) Compact Fly-By-Wire system for the Nuuva V300 cargo unmanned aerial vehicle (UAV), choosing a modern, lightweight, highly capable system with a proven architecture ideally suited for their autonomous cargo UAV.

Fly-by-wire computers act as the 'brains' of an aircraft's flight controls by operating them electronically and can be found inside nearly all large fixed-wing aircraft today. The compact version from Honeywell has features derived from decades of expertise in fly-by-wire systems for airliners, but it's much smaller - roughly the size of a paperback book. This product is intended for smaller autonomous cargo and urban air mobility (UAM) vehicles and adds stability and performance by driving flight controls electrically, without heavy hydraulics, control cables or push rods.

'One of the toughest challenges logistics companies face today is meeting the demand for same-day delivery. Vehicles like Pipistrel's Nuuva V300 are going to be a real breakthrough in the race to solve this problem,' said Stephane Fymat, vice president and general manager, unmanned aerial systems (UAS)/UAM, Honeywell Aerospace. 'We listened to our customers and built a product that meets the unique needs of this segment, and we're extremely proud that our Compact Fly-By-Wire system will be guiding these vehicles as they take to the skies.'

Pipistrel's Nuuva V300 is a long-range, large-capacity, autonomous UAV. It will take off and land vertically with battery power, meaning it does not require a runway, and has significantly lower operating costs than helicopters. It can carry loads up to 300 kilograms (around 660 pounds) for more than 300 kilometers (around 186 miles), making it an ideal solution for deliveries to areas traditionally accessible only by helicopter.

'After years of excellent cooperation in the UAM sector, we chose to work with Honeywell in the development of the Nuuva V300 as well,' said Ivo Boscarol, founder and CEO of Pipistrel Group. 'We see this cargo aircraft paving the way for the passenger-carrying Pipistrel 801, our proposed air taxi for Uber Elevate, as both aircraft share similar architectures. Honeywell's expertise and the proven capabilities of its Compact Fly-By-Wire system will provide airliner levels of safety for our novel air vehicles.'

Honeywell is a major player in the emerging UAM segment, offering a full line of avionics, flight control, navigation, radar, communications, actuation, cooling, motors and turbo-electric propulsion systems - all tailored for piloted vertical take-off and landing (VTOL) urban air mobility and unmanned cargo vehicles. Honeywell also offers aerospace integration and certification expertise for enabling the commercialization of these vehicles.

For more information on Honeywell's advanced solutions, visit the UAS/UAM page on the Honeywell Aerospace website.

About Honeywell

Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft. The Aerospace business unit builds aircraft engines, cockpit and cabin electronics, wireless connectivity systems, mechanical components and more. Its hardware and software solutions create more fuel-efficient aircraft, more direct and on-time flights and safer skies and airports. For more information, visit www.honeywell.com or follow us at @Honeywell_Aero.

Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

About Pipistrel

Pipistrel is a world-leading small aircraft designer and manufacturer, specialized in energy-efficient and affordable high-performance aircraft. With more than 30 years of experience, Pipistrel has produced more than 2200 aircraft to-date, gaining significant international reputation by delivering unique, innovative products to passionate customers on all continents. First-to-fly an electric two-seater in 2007 and the winner of the NASA Green Flight Challenge in 2011 with the World's first electric four-seat aeroplane, Pipistrel has designed nine different experimental and serially produced electric aircraft, including the first type certified electric aeroplane, the Velis Electro. It has also developed propulsion systems, including batteries, power controllers and electric motors, for small and general aviation class of aircraft for NASA and Siemens, among others. With involvement in standardisation committees, i.e. ASTM F44.40, F39.05, SAE AE7-D, Pipistrel is helping to enable the future market of hybrid-electric aviation.

Pipistrel Vertical Solutions, the company's R&D division, holds an EASA Design Organisation Approval and has the capability of bringing a new aircraft design concept from a basic idea into a certified design, ready for production. The division is also developing an electric eVTOL air taxi, as well as a hydrogen fuel-cell powered 19-seat miniliner/microfeeder, aimed at revolutionising the intra-European transport market.

Amanda Jensen

External Communications Specialist

1-602-245-9033

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 32 148 M - -
Net income 2020 4 870 M - -
Net Debt 2020 6 272 M - -
P/E ratio 2020 29,8x
Yield 2020 1,75%
Capitalization 143 B 143 B -
EV / Sales 2020 4,65x
EV / Sales 2021 4,40x
Nbr of Employees 113 000
Free-Float 73,1%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 191,96 $
Last Close Price 203,92 $
Spread / Highest target 10,8%
Spread / Average Target -5,87%
Spread / Lowest Target -31,3%
EPS Revisions
Managers
NameTitle
Darius Adamczyk Chairman & Chief Executive Officer
Gregory P. Lewis Chief Financial Officer & Senior Vice President
Krishna Mikkilineni SVP-Engineering Operation & Information Technology
Suresh Venkatarayal Chief Technology Officer
Clive Richard Hollick Independent Director
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