Honeywell To Acquire TruTrak Flight Systems
July 24, 2019
OSHKOSH, Wis., July 24, 2019 /PRNewswire/ -- Honeywell (NYSE: HON) has acquired privately held TruTrak Flight Systems, a leader in autopilots for experimental, light-sport and certified aircraft. The acquisition will become part of Honeywell's BendixKing business, helping to deliver affordable technologies to the experimental and general aviation markets. This market has grown by double digits over the past five years.
"TruTrak is a natural fit with BendixKing, and this acquisition opens up an exciting new market to us," said Carl Esposito, president, Electronic Systems at Honeywell Aerospace. "It provides great technology at affordable prices, which is central to BendixKing's business. Furthermore, adding TruTrak to the BendixKing family will attract new talent, foster collaboration and help us identify new ways to bring value to our customers."
As part of the acquisition, TruTrak's chief executive officer and owner, Andrew Barker, will join the BendixKing executive team and will continue to drive the successful adoption of TruTrak's autopilots in the experimental and certified aircraft markets. BendixKing will also add TruTrak's engineers to its staff to maintain the integrity of the technology and the affordability for which TruTrak's products are known.
"Honeywell and BendixKing's capabilities in the aerospace industry will accelerate the continued development of the products TruTrak has built from the ground up," said Barker. "Their vision for autopilots aligns with ours, and personally I am very excited to join the BendixKing team and use the extensive resources now available to us to continue forging the future of autopilots."
Since its founding in 1999, TruTrak has sold well over 15,000 autopilots and continues to introduce new products and features to improve autopilot technology, improve safety features, and add new capabilities. TruTrak's autopilot systems can fly a wide range of aircraft and fly well in turbulence. They are also easy to install, maintain and use.
Terms were not disclosed and there is no change to the company's 2019 outlook as a result of the acquisition.
Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft. The Aerospace business unit builds aircraft engines, cockpit and cabin electronics, wireless connectivity systems, mechanical components and more. Its hardware and software solutions create more fuel-efficient aircraft, more direct and on-time flights and safer skies and airports. For more information, visit www.honeywell.com or follow us at @Honeywell_Aero.
Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, 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.