Honeywell Aerospace Inc. (HONA)

Honeywell Aerospace is a global tier-1 aerospace and defense supplier of mission critical systems and technologies that enable the production, maintenance, and safe operation of aerospace and defense platforms. Honeywell announced on February 6, 2025 its plan to spin the business off as an independent, publicly traded company, and the common stock is expected to trade on Nasdaq under the ticker "HONA" after the distribution. It describes itself as a "nose-to-tail" provider whose systems are installed on approximately 90% of the in-service aircraft fleet and specified into more than 250 in-production platforms. This installed base supports recurring aftermarket revenue, including replacement parts, Honeywell-certified used parts, maintenance, repair and overhaul (MRO) services, and retrofits, modifications and upgrades (RMU). RMU revenue was $1.6 billion in 2025, or 9% of Aerospace revenue.

The business is organized into three segments: Electronic Solutions, Engines & Power Systems, and Control Systems. Offerings cited in the text include engines, auxiliary power units, avionics, satellite communication, navigation, power and thermal management, electro-magnetic defense, electronic warfare, and autonomy systems. Two recent acquisitions, Civitanavi Systems and CAES Systems Holdings, added alternative navigation and electronic warfare capabilities and strengthened its European defense footprint. The company invested over $1.7 billion in internally funded research, development, and engineering over the last three years and holds over 9,000 active patent assets, including applications. It follows a "develop once, deploy everywhere" approach to reuse common technologies across end markets.

Customers include original equipment manufacturers, government and defense prime contractors, and aircraft operators across three end markets. Defense and Space made up 41% of 2025 revenue, Commercial Air Transport 39%, and Business Aviation 20%. In Commercial Air Transport, customers include Boeing, Airbus and Embraer, and operators such as Lufthansa, United Airlines, Emirates and Delta. In Business Aviation, they include Gulfstream, Bombardier, Embraer, Dassault and Textron. In Defense and Space, they include BAE Systems, Boeing, Leonardo, Lockheed Martin, Northrop Grumman and RTX, plus U.S. Department of War depots and international Ministries of Defense. International defense revenue was about 28% of Defense and Space revenue in 2025, and no single platform accounted for more than 8% of total revenue.

The company employs approximately 36,000 people across more than 90 engineering, manufacturing, and MRO facilities worldwide. From 2023 to 2025 it invested more than $1 billion in its supply chain, including in-sourcing, dual-sourcing and multi-sourcing, and uses digital tools, AI solutions and smart factory initiatives. After the separation it will use the Honeywell Accelerator operating system tools and processes, tailored into the Honeywell Aerospace operating system. Competitors include BAE Systems, Collins Aerospace, Garmin, L3Harris, Safran, Starlink, Teledyne and Thales in Electronic Solutions. They include GE Aerospace, Pratt & Whitney, Rolls-Royce, Safran and Williams in Engines & Power Systems, and Collins Aerospace, Liebherr, Parker Aerospace, Safran and Woodward in Control Systems. The company is incorporated in Delaware, and its principal executive offices will be at 1944 E Sky Harbor Cir N, Phoenix, Arizona.