February 26, 2018 / 7:24 PM / 10 months ago

Honeywell sees rising demand for civilian choppers over next five years

FILE PHOTO: A view of the corporate sign outside the Honeywell International Automation and Control Solutions manufacturing plant in Golden Valley, Minnesota, U.S. January 28, 2010. REUTERS/Eric Miller/File Photo

(Reuters) - Honeywell International Inc (HON.N) expects to deliver 4,000 to 4,200 helicopters for civilian use through 2022 on the back of strengthening global economy, the U.S. industrial conglomerate said on Monday.

Honeywell’s forecast for the next five years represents a 5.3 percent to 10.5 percent increase over the 3,800 deliveries made between 2013 and 2017.

The company, which makes jet engines, said in its market forecast that its 2018 findings show purchase-plan rates for civil helicopters is consistent with its 2017 survey.

“Potential positive impacts of U.S. tax reform on new helicopter demand and lower volatility in oil and gas-related markets have helped fleet managers confirm what they told us last year,” Ben Driggs, president, Americas, Honeywell Aerospace said in a statement.

The Morris Plains, New Jersey-based company expects the light single-engine helicopter models to be the most-desired product over the next five years as flying taxis as an option for urban commute is being considered by tech startups and companies.

Earlier in February, Bell Helicopter, a unit of Textron Inc (TXT.N), said it tied up with ride-hailing firm Uber Technologies Inc [UBER.UL] to bring the first air-taxis by 2025, Bloomberg had reported. [bloom.bg/2saBLXj]

Honeywell said it expects helicopter fleet utilization to increase significantly in North America but sees only a modest increase in Europe and Latin America over the next 12 months.

Reporting by Shravanth Vijayakumar in Bengaluru; Editing by Arun Koyyur

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