* Plans to more than double $500 million rev from India
* Investing $50 million to expand R&D plant in Bangalore
* Eyeing revenue from India space programme
*Source: DTN News / Reuters By Bappa Majumdar
(NSI News Source Info) NEW DELHI, India - August 7, 2009: Honeywell International's aerospace unit plans to more than double its $500 million revenue from India in five years by increasing sales of defence and commercial equipment, a top official said on Friday. 
Honeywell is also upgrading India's Jaguar fighter planes with superior engine, and has a tie-up with state-owned Hindustan Aeronautics Limited (HAL) to produce aircraft engines and equipment for the international market. An Indian Air Force (IAF) 14th Squadron SEPECAT (Breguet/BAC) Jaguar GR-1 "Shamser" (Sword of Justice) ground attack aircraft prepares to receive fuel from a IAF 78th Squadron Ilyushin IL-78 Midas aerial refueling aircraft, flying out of Eielson FB, Alaska (AK), as they participate in an aerial refueling mission during Exercise COOPERATIVE COPE THUNDER, the largest multinational air combat training exercise in the Pacific. This 15-day exercise simulates wartime combat conditions so that military personnel from 12-nations can sharpen their air fighting skills, exchange air operational tactics, and build closer relations with each other.
"We have revenue in excess of half a billion dollars, which we plan to more than double in five years," Paolo Carmassi, chief executive officer of Honeywell Aerospace, the world's largest maker of cockpit systems, told Reuters in an interview.
Honeywell, a diversified group which makes products such aircraft engines, electronic systems and avionics, has five manufacturing facilities and 10,000 employees in India.
As one of the world's biggest arms importers, India plans to spend more than $30 billion over the next five years to upgrade its largely Soviet-era arsenal, which Carmassi said provided the perfect environment to grow its businesses.
"Honeywell has had significant investment in India and is committed to realise its vision in the country. For example, in 2009, Honeywell has invested $50 Million to expand its R&D facility in Bangalore," Carmassi said by telephone from Rolle in Switzerland.
India will begin field trials this month to buy 126 fighter jets in a $10.4 billion project which is one of the world's biggest arms deal in play at the moment.
Boeing's F/A-18 Super Hornet, France's Dassault Rafale, Lockheed Martin Corp's F-16, Russia's MiG-35, Sweden's Saab JAS-39 Gripen and the Eurofighter Typhoon, are the six contenders.
When India finalises the fighter deal in a year's time, it would be a win-win situation for Honeywell, Carmassi said, adding that five of the six contenders for the fighters have Honeywell products.
Honeywell components are also present in six C-130J military transport planes and eight P8-I maritime patrol aircraft, bought by India for $3.2 billion from Lockheed Martin and Boeing recently, Carmassi said.
Honeywell is also upgrading India's Jaguar fighter planes with superior engine, and has a tie-up with state-owned Hindustan Aeronautics Limited (HAL) to produce aircraft engines and equipment for the international market.
The company is also eyeing revenues from India's space programme which envisions the launch of several satellites in the coming years and unmanned and manned missions to space and moon. (Editing by Krittivas Mukherjee and Valerie Lee)
Honeywell is also upgrading India's Jaguar fighter planes with superior engine, and has a tie-up with state-owned Hindustan Aeronautics Limited (HAL) to produce aircraft engines and equipment for the international market. An Indian Air Force (IAF) 14th Squadron SEPECAT (Breguet/BAC) Jaguar GR-1 "Shamser" (Sword of Justice) ground attack aircraft prepares to receive fuel from a IAF 78th Squadron Ilyushin IL-78 Midas aerial refueling aircraft, flying out of Eielson FB, Alaska (AK), as they participate in an aerial refueling mission during Exercise COOPERATIVE COPE THUNDER, the largest multinational air combat training exercise in the Pacific. This 15-day exercise simulates wartime combat conditions so that military personnel from 12-nations can sharpen their air fighting skills, exchange air operational tactics, and build closer relations with each other.
"We have revenue in excess of half a billion dollars, which we plan to more than double in five years," Paolo Carmassi, chief executive officer of Honeywell Aerospace, the world's largest maker of cockpit systems, told Reuters in an interview.
Honeywell, a diversified group which makes products such aircraft engines, electronic systems and avionics, has five manufacturing facilities and 10,000 employees in India.
As one of the world's biggest arms importers, India plans to spend more than $30 billion over the next five years to upgrade its largely Soviet-era arsenal, which Carmassi said provided the perfect environment to grow its businesses.
"Honeywell has had significant investment in India and is committed to realise its vision in the country. For example, in 2009, Honeywell has invested $50 Million to expand its R&D facility in Bangalore," Carmassi said by telephone from Rolle in Switzerland.
India will begin field trials this month to buy 126 fighter jets in a $10.4 billion project which is one of the world's biggest arms deal in play at the moment.
Boeing's F/A-18 Super Hornet, France's Dassault Rafale, Lockheed Martin Corp's F-16, Russia's MiG-35, Sweden's Saab JAS-39 Gripen and the Eurofighter Typhoon, are the six contenders.
When India finalises the fighter deal in a year's time, it would be a win-win situation for Honeywell, Carmassi said, adding that five of the six contenders for the fighters have Honeywell products.
Honeywell components are also present in six C-130J military transport planes and eight P8-I maritime patrol aircraft, bought by India for $3.2 billion from Lockheed Martin and Boeing recently, Carmassi said.
Honeywell is also upgrading India's Jaguar fighter planes with superior engine, and has a tie-up with state-owned Hindustan Aeronautics Limited (HAL) to produce aircraft engines and equipment for the international market.
The company is also eyeing revenues from India's space programme which envisions the launch of several satellites in the coming years and unmanned and manned missions to space and moon. (Editing by Krittivas Mukherjee and Valerie Lee)
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