Honeywell (NYSE: HON) signed a new licensing agreement with Wuhan Hangda for maintenance, repair and overhaul services for Honeywell aircraft parts in China. Wuhan Hangda is the largest third-party maintenance, repair and overhaul service supplier in mainland China, specializing in aircraft parts maintenance, test equipment development and manufacturing, and ground-refueling equipment research and development.
Under the new five-year licensing agreement, Wuhan Hangda will provide maintenance, repair and overhaul (MRO) services for Honeywell’s extensive pneumatic and mechanical products on the Airbus A320 and A330 as well as the Boeing fleet. Aircraft operators will enjoy increased reliability and peace of mind with 100 percent Honeywell original equipment parts. Through Honeywell’s world-class technical and customer support, the agreement will also improve the quality and reliability of Wuhan Hangda’s repair services.
From left to right: Degang Xie, Chairman, Wuhan Hangda and Brian Davis, vice president, Airlines, Asia Pacific, Honeywell Aerospace.
“As aircraft fleets in China and Asia Pacific continue to see robust growth, Honeywell is confident in the market demand for MRO services in the region,” said Brian Davis, vice president, Airlines, Asia Pacific, Honeywell Aerospace. “Wuhan Hangda is a market leader and will play a key role in helping us provide more reliable and competitive MRO services for airlines in China.”
“We are pleased to extend our collaboration with Honeywell with this new licensing agreement, which opens up doors for us to provide a quicker and more efficient service to our customers,” said Degang Xie, chairman, Wuhan Hangda. “Honeywell’s global network and industry expertise will ensure that we are well-positioned to respond to growing demand for MRO services.”
The new agreement demonstrates Honeywell’s commitment to helping customers reduce aircraft downtime and providing faster turnaround, with support for Asia Pacific’s growing MRO market, which is forecast to see continued growth over the next 10 years. In its first Global Services Forecast, Airbus predicts that the cumulative value of MRO activity around the world will exceed $1.8 trillion by 2035, with Asia Pacific forecast to represent the largest portion of the market for MRO activity. According to estimates from CAVOK Group, by 2025 the MRO market in Asia Pacific will be worth $34.8 billion, with China expected to be a key driver of growth in the region over the next decade.