In the quarters ahead, it expects the Aerospace segment to benefit from strong demand in commercial aviation, growth in air transport flight hours and higher chipset deliveries. Strength in its defense and space business, owing to stable U.S. and international defense spending volumes and sustained demand from the current geopolitical climate, is also likely to be beneficial.
Solid demand for its products and solutions, led by increasing building projects, will likely be beneficial for the Building Automation segment. Strength in the advanced materials business, driven by higher demand for fluorine products, bodes well for the Energy and Sustainability Solutions segment.
The company has been strengthening its business through acquisitions. Acquisitions had a positive impact of 1% on sales growth in the second quarter. In July 2024, it inked a deal to acquire Air Products' liquefied natural gas process technology and equipment business for $1.81 billion in cash. Subject to regulatory approvals and customary closing conditions, the acquisition is expected to close before the end of 2024.
In June 2024, Honeywell inked a deal to acquire CAES Systems Holdings LLC from private equity firm Advent. The transaction will augment its defense technology offerings across various domains, including land, sea, air and space. Subject to regulatory approvals and customary closing conditions, the acquisition is expected to ...
