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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Honeywell International Inc | NASDAQ:HON | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.455 | -0.22% | 203.345 | 203.33 | 203.39 | 205.38 | 203.12 | 205.00 | 960,580 | 18:54:15 |
DALLAS, March 6, 2017 /PRNewswire/ -- Impacted by a slow global economic growth environment and volatility in oil and gas-related markets, the helicopter industry is reacting with a cautious outlook for near-term new purchases. In its 19th annual "Turbine-Powered Civil Helicopter Purchase Outlook," Honeywell (NYSE: HON) forecasts 3,900 to 4,400 civilian-use helicopters will be delivered from 2017 to 2021, roughly 400 helicopters lower than the 2016 five-year forecast.
"The current global economic situation is causing fleet managers to evaluate new helicopter purchases closely, and that's why we're seeing a more cautious five-year demand projection compared with previous years," said Ben Driggs, president, Americas, Honeywell Aerospace. "Even in a slow growth environment, Honeywell is well-positioned to help operators keep current fleets lasting longer with aftermarket upgrades and repairs."
Key global findings in the outlook include:
Regional Overview
Latin America: The 2017 results show lower fleet replacement and growth expectations compared with 2016 results. Still above the world average, the purchase plans have declined more than 13 percent compared with the prior year.
Middle East and Africa: The region has the second-highest new purchase rate among the regions, with up to 22 percent of respondent fleets slated for turnover with a new helicopter replacement or addition. However, purchase plans are 8 percent lower compared with 2016 survey results.
North America: Purchase expectations fell by more than 2 percent in this year's survey. The purchase plans are down for a second year since 2015.
Europe: Purchase plans decreased by more than 3 percent in this year's survey, down for a second year in a row.
Asia Pacific: Despite solid results from these nations, overall buying plans slipped about 1 percent. Operator purchase plans continued to drift slightly lower compared with the past few years in the 2017 results.
BRIC countries (Brazil, Russia, India and China): Purchase plans are lower for all countries except Russia in this year's survey. Overall, BRIC plans are down more than 11 percent compared with 2016 results.
Methodology
The 2017 outlook presents a snapshot of the helicopter business at a point in time and reflects the current business and political environment. This year's survey queried more than 1,000 chief pilots and flight department managers of companies operating 3,746 turbine and 362 piston helicopters worldwide. The survey excluded large fleet or "mega" operators, which were addressed separately. Input received from large oil and gas support and emergency medical service fleet operators is factored into the overall outlook in addition to the individual flight department responses. The survey detailed the types of aircraft operated and assessed specific plans to replace or add to the fleet with new aircraft.
Supporting Resources
Honeywell (www.honeywell.com) is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally. Our technologies help everything from aircraft, cars, homes and 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/honeywell-forecasts-3900-to-4400-global-helicopter-deliveries-over-next-five-years-300418254.html
SOURCE Honeywell
Copyright 2017 PR Newswire
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