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MORRIS TOWNSHIP, N.J., Feb. 7 (UPI) -- Honeywell expects a decline in its defense and space business but says it will weather U.S. military budget cuts through increased efficiency and other methods.
The outlook and plans were detailed by company Vice President for Defense and Space Mike Madsen at Tuesday's Cowen and Co. Annual Aerospace/Defense Conference in New York.
"We have been in active dialogue with our defense customer base and are very attuned to the budget challenges and ongoing need for creative responses and solutions," Madsen said. "We understand this requires new thinking on how to best serve your customer given new market dynamics.
"We believe Honeywell is well-positioned in this environment with our organizational structure, since we share a common supply chain and engineering workforce between our commercial and defense businesses. This flexibility allows us to more quickly adapt and flex our workforce to support our growing commercial business and simultaneously meet the changing needs and demands of the military."
Honeywell said it is expanding into international markets but has also worked closely with the U.S. Department of Defense on retrofits and upgrades to existing equipment and in identifying cost-cutting programs, including savings on fuel use with more efficient systems.
"Through these programs and others, we're offering real solutions based on existing Honeywell technologies and programs to help the military cut costs while actually enhancing mission capability," Madsen said.
Examples cited include upgrading C-130 aircraft with an improved APU and 40kVA generator combination; supplying the military with better air traffic equipment for more efficient routing and reduced fuel burn for existing cargo/transport aircraft; and participating in performance-based logistics programs with the Defense Department to reduced cost.
Honeywell said it believes its defense and space business will decline as much as 5 percent in 2912 but will stabilize the following year and return to growth in 2014.
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