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OFFON

HONEYWELL INTERNATIONAL INC.

(HON)
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Honeywell International : To Provide Cockpit Technologies For 7-Seater Lilium Jet; Compact fly-by-wire system and avionics will help ensure smooth, comfortable, emission-free passenger air travel

06/10/2021 | 11:27am EDT

PHOENIX- Honeywell (NASDAQ: HON) has been selected by Lilium to develop the 7-Seater Lilium Jet's avionics and flight control systems. The compact fly-by-wire system will act as the flight control system on the all-electric 7-Seater Lilium Jet, responsible for controlling its moveable parts, including the 36 control surfaces and ducted fans that provide its high levels of maneuverability in every stage of flight.

Honeywell, one of the first major aerospace manufacturers to create a dedicated Urban Air Mobility business unit, has designed a flight control system that draws on its decades of experience providing such systems for commercial airliners. This system, which has been tailored for the Lilium Jet's unique design, will play a crucial role in ensuring smooth, comfortable and emission-free air travel for passengers.

'The avionics and flight control computers from Honeywell will be a key element for the Lilium Jet's electronic architecture,' said Yves Yemsi, chief program officer, Lilium. 'Honeywell will integrate an advanced flight deck tailored for the Lilium Jet as the central interface to the pilot with a vehicle management computer and a high integrity flight controls computing platform to provide a state-of-the-art fly-by-wire solution for the Lilium Jet.'

Alongside the flight control system, Honeywell is delivering the next-generation integrated avionics system, which will provide a simplified user interface for the pilot to fly the Lilium Jet. The selection of Honeywell's next-generation Urban Air Mobility avionics system is the result of ongoing collaboration between Lilium and Honeywell to converge on the specific technical requirements suitable for the Lilium Jet. The avionics system is designed to reduce training time and will support operation by a single pilot, freeing up greater passenger capacity.

'At Honeywell, we believe in the promise of the Urban Air Mobility segment, and we see its enormous potential to bring about a new age of aviation and forever transform the way we think about flight and transportation,' said Stephane Fymat, vice president and general manager of Urban Air Mobility, Honeywell. 'Lilium shares that vision with us, which has enabled us to forge a fantastic relationship. We're extremely excited for our avionics to be on board the Lilium Jet, where they will help ensure not only safe operation, but also make it easier for pilots to fly and provide a more comfortable journey for those onboard.'

In addition to its selection as a provider of the flight control system for the 7-Seater Lilium Jet, Honeywell is also participating in the common stock PIPE offering in connection with Lilium's SPAC transaction.

'Honeywell has a decades-long track record of developing and certifying avionics and safety systems for leading aerospace companies and has worked alongside Lilium to develop a bespoke solution for our aircraft,' Yemsi said. 'We are proud that Honeywell is not only joining our roster of world-class aviation partners, but also as one of our investors as we prepare to launch commercial operations in 2024.'

Following Toray Industries, Aciturri and Lufthansa Aviation Training, Honeywell is the latest in a series of world-class Lilium suppliers whose technology and services have been certified in aerospace around the world for decades. It is joined by infrastructure leaders, such as the Tavistock Development Company, and Ferrovial, a leading airport operator, which have provided approximately $200 million in commitments to support the development of up to 14 vertiports in Florida.

For more information on Honeywell's Urban Air Mobility efforts, visit aerospace.honeywell.com.

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.

Honeywell 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 information, visit honeywell.com.

About Lilium

Lilium's vision is to create a sustainable and accessible mode of high-speed, regional transportation. Using the seven passenger Lilium Jet, an electric vertical take-off and landing jet, offering leading capacity, low noise and high performance, Lilium is building a transport network and service for people and goods. Working in partnership with world-leading aerospace, technology, and infrastructure leaders, commercial operations are set to launch in 2024. Lilium's 600+ strong team includes over 400 aerospace engineers and a leadership responsible for delivering some of the most successful aircraft in aviation history. Founded in 2015, Lilium's headquarters and manufacturing facilities are in Munich, Germany, with teams based across Europe and the U.S. To learn more, visit lilium.com.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 35 049 M - -
Net income 2021 5 734 M - -
Net Debt 2021 8 594 M - -
P/E ratio 2021 28,7x
Yield 2021 1,60%
Capitalization 161 B 161 B -
EV / Sales 2021 4,85x
EV / Sales 2022 4,47x
Nbr of Employees 103 000
Free-Float 72,0%
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Number of Analysts 26
Last Close Price 233,79 $
Average target price 242,04 $
Spread / Average Target 3,53%
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Managers and Directors
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
Victor J. Miller Secretary, Chief Compliance Officer & VP
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