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

HONEYWELL INTERNATIONAL INC.

(HON)
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Honeywell International : Incheon International Airport Streamlines Airside Operations with Honeywell's Advanced Airside Technology

11/20/2020 | 11:15am EST
  • Upgrades enable safer navigation and improved efficiencies following construction of the airport's fourth runway and expansion of its apron

Madrid, March 3, 2020 - Honeywell (NYSE: HON) today announced it will upgrade airfield lighting control and monitoring systems at Incheon International Airport (ICN) as the fourth phase of an ongoing improvement project. The upgrades will help enhance passenger service and streamline airport operations, while simultaneously enabling safer, faster travel. The work is underway and expected to be completed by October 2022.

Recent construction of the airport's fourth runway and expansion of its northern remote apron have increased flight capacity per hour from 90 to 107 flights, and the opening of Terminal 2 has allowed ICN to accommodate 18 million passengers and 50 million tons of cargo per year. In parallel, increased air traffic has created demand for a new guidance system - one that allows pilots to easily navigate ICN's complex runways, taxiways and other airfield surfaces.

To help address these challenges, Honeywell is installing its Airfield Ground Lighting Control and Monitoring System (AGLCMS) and Advanced Surface Movement Guidance and Control System (A-SMGCS) technologies to promote safer navigation through enhanced controllability under most traffic or visibility conditions, while enhancing overall operational efficiency.

'With more than 380,000 flights managed yearly, Incheon International Airport is one of the highest-trafficked gateways to Southeast Asia,' said Chang-Jun Lee, director, Aeronautical Ground Light Team, Incheon International Airport. 'Under high-traffic conditions, reliable guidance systems such as those installed by Honeywell are critical to the pilots maneuvering around our congested airfield and taxiways. Put simply, this technology helps keep operations running smooth and helps make sure people are safe.'

Advanced Surface Movement Guidance and Control System

Honeywell A-SMGCS is a modular system serving different functions to help aircraft navigate safe routes. The new system designates a route for each aircraft or vehicle within the airfield's movement area based on information from other airport systems, helping to effectively address ICN's high-traffic conditions.

While the system works to assign the most efficient route, manual intervention is always possible when needed. A-SMGCS also helps to provide clear instruction to pilots and vehicle operators, allowing them to easily follow assigned routes - indicating which areas are restricted or unavailable for use.

Follow the Greens

ICN is among the first airports to adopt 'follow the greens' - an intelligent guidance procedure functioning alongside A-SMGCS technology - to help improve capacity and safety. These systems use taxiway lighting to efficiently direct crews and aircrafts, only activating segments of taxiway lighting that are needed, leaving others switched off. This protocol helps improve the safety of runway traffic by distributing aircrafts more evenly across taxiways and addressing potential conflicts sooner rather than later. This work is expected to be completed in April 2020.

'Our goal is to help Incheon deliver safer, faster travel for passengers while simplifying complex tasks for those in control,' said Sonja Strand, vice president and general manager, Honeywell Global Airports. 'The Incheon team takes a proactive effort to see that its infrastructure can keep up with air traffic flight capacity. Over the past 23 years, we've helped the Incheon team improve its operations and experiences to be one of Southeast Asia's most critical travel hubs.'

Incheon International Airport serves as a flagship project in Honeywell's Iconic Buildings campaign, highlighting the airport's efforts in air safety and optimizing operations. The campaign features some of the world's most symbolic and widely-recognized buildings that use Honeywell technologies to perform critical day-to-day functions.

Visit us at World ATM Congress in Madrid (March 10 - 12, Stand 967 in Hall 9) to learn more about Honeywell's latest global airport projects.

About Honeywell Building Technologies

Honeywell Building Technologies (HBT) is a global business with more than 23,000 employees. HBT creates products, software and technologies found in more than 10 million buildings worldwide. Commercial building owners and occupants use our technologies to ensure their facilities are safe, energy efficient, sustainable and productive. For more news and information on Honeywell Building Technologies, visit http://www.honeywell.com/newsroom.

About Honeywell

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.

Disclaimer

Honeywell International Inc. published this content on 04 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 November 2020 16:14:05 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 32 144 M - -
Net income 2020 4 892 M - -
Net Debt 2020 6 300 M - -
P/E ratio 2020 30,4x
Yield 2020 1,71%
Capitalization 146 B 146 B -
EV / Sales 2020 4,75x
EV / Sales 2021 4,50x
Nbr of Employees 113 000
Free-Float 73,2%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 207,74 $
Last Close Price 208,61 $
Spread / Highest target 24,6%
Spread / Average Target -0,42%
Spread / Lowest Target -32,9%
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Managers and Directors
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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