Honeywell is developing multiple branches of its rapidly growing, multifaceted business. With the continuation of a multimillion-dollar Army contract and the expansion of its delivery system, Honeywell is showing shareholders they’re worth the investment.
Two weeks ago, Phoenix-based Honeywell Aerospace announced that it had been awarded a $70.5 million contract with the U.S. Army to develop and maintain tank engines. Further, Honeywell has been tasked with revamping the AGT1500 engines for the Abrams tanks, which the Army frequently uses.
This isn’t the only sizeable military contract that Honeywell has received lately. The engineering firm also secured a 10-year, $1.036 billion contract with the U.S. Air Force last month. Under the partnership, Honeywell will provide logistics support for Air Force secondary power systems on several types of aircraft and ground-based control units.
In addition to its position as one of the top US defense contractors, Honeywell is also expanding its customer services. The firm recently unveiled its expanded GoDirect service, which provides updates to maintenance services and equipment protection plans for aircraft. The new-and-improved edition of GoDirect will allow customers to track their packages anywhere – even in airplanes.
“Consumer expectations around package delivery continue to grow, and Honeywell connected technologies can help meet or exceed these expectations, so couriers can earn consumer loyalty,” Honeywell spokesman Adam Kress explains. “Research shows that 75% of consumers expect deliveries to be free, making it difficult for couriers to balance cost and timeliness. Honeywell combines the expertise of its Aerospace and Safety and Productivity Solutions businesses to ensure all packages are always connected and traceable.”
Whether you’re a pharmacy anticipating a massive shipment of pharmaceuticals or a consumer eagerly waiting on a new electronic device, the delivery service helps give customers newfound peace of mind.
“Honeywell technologies play a key role in the complex journey of package deliveries, accurately tracking and tracing items from the first to last mile,” Kress emphasizes.
In the past six months, Honeywell’s share price (HON) has jumped over 15 percent, largely thanks to innovations and contracts that Phoenix-based Honeywell Aerospace is pursuing.