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HONEYWELL INTERNATIONAL INC.

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Honeywell Successfully Begins Testing Next-Generation T55 Engine For U.S. Army Chinook Helicopters

12/01/2021 | 09:00am EST

Honeywell has reached a significant milestone with the U.S. Army by being the first engine to test (FETT) as part of its Cooperative Research and Development Agreement (CRADA) for the next-generation engine for Chinook helicopters. The CRADA program and testing of the T55-714C engine is planned over a two-year period to validate the benefits and ease of integration of the new engine variant onto the Chinook platform. This will allow the U.S. Army to evaluate the capabilities of the newest rendition of Honeywell's battle-proven T55 engine. Testing of the first T55-GA-714C engine was successfully initiated at Honeywell's Phoenix test facilities in November to verify the design and establish the performance benchmark in preparation for the engine installation on the flight test aircraft. This is an essential next step for the U.S. Army to test the new T55-GA-714C engine capability for its latest CH-47 Chinook helicopters. To date, the engine has tested through Maximum Continuous Power, demonstrating mechanical operation and acquiring key performance data. Additional testing is planned at significantly higher power levels. With 6,000 horsepower, Honeywell's upgraded engine is 23% more powerful and consumes 8% less fuel than the current T55, even in the most demanding operating conditions. New modifications also make the next-generation T55 easier to maintain with lower operating costs, delivering increased readiness for the warfighter. The T55-GA-714C engine is specifically designed for next-generation military operators and will improve the Chinook helicopter's ability to lift troops and heavy cargo for the U.S. Army. Because the engine is based closely on the T55 version currently in use, minimal airframe modifications are required ? the same intake, exhaust and engine airframe mounts are used. This design provides the U.S. Army with a major engine improvement without the need to retrain their maintenance and operational staff or undertake major aircraft changes. In 2020, Honeywell won a competitive repair and overhaul contract for the T55. In addition, Honeywell completed a new, world-class engine repair and overhaul facility in Phoenix. That move allowed the repair and overhaul work on the T55-GA-714A engine to be fulfilled in the same location as new engine production. The T55 center of excellence provides for a shared workforce, facilities and engineering resources between both engine lines and delivers up to 20 engines per month to the U.S. Army, foreign military and commercial customers. Honeywell first delivered the T55 engine to the U.S. Army in 1961 at 2,200 shaft horsepower on the CH-47A helicopter. Since that time, the engine's power has nearly tripled to 6,000 shaft horsepower. Each performance increase on the T55 is accompanied by reduced fuel burn, increased reliability and decreased maintenance hours. The T55 engine is the world leader in powering heavy lift helicopters. Over 900 CH-47 helicopters are operated by various militaries around the world.


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Financials (USD)
Sales 2021 34 495 M - -
Net income 2021 5 604 M - -
Net Debt 2021 8 965 M - -
P/E ratio 2021 27,2x
Yield 2021 1,73%
Capitalization 150 B 150 B -
EV / Sales 2021 4,60x
EV / Sales 2022 4,29x
Nbr of Employees 103 000
Free-Float -
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Number of Analysts 27
Last Close Price 217,65 $
Average target price 236,39 $
Spread / Average Target 8,61%
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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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