Samtel receives $ 5.1 M from Honeywell for Avionics Equipment
- Equipment Meant for Aircraft in US
- Signifies Samtel's entry into commercial aerospace segment.
- Samtel is the sole source worldwide to produce this particular component for Honeywell.
Samtel Avionics & Defence Systems (SA) is pleased to announce that it has received an order to manufacture avionics equipment for Honeywell. The value of the order is $ 5.1 M. Samtel and Honeywell have signed a long term contract for supply of the component to Honeywell -- a continuation of a previous purchase order that Samtel had received from Honeywell in 2010. Samtel, since then, has become an approved supplier for Honeywell worldwide for this equipment, meant for aircraft in the US. The production of this equipment is to begin shortly at Samtel Avionics’ new production facility at Greater Noida.
Samtel and Honeywell have been working together for the last five years since the first contract for Color Avionics Tubes was signed between Samtel and Honeywell. Samtel is also in discussion with Honeywell for multiple display programs, and expects to get more business with the total potential value reaching upto
$100 Million over the next 5-7 years.
Global Military Aircraft Avionics Market 2015-2019
With this deal, Samtel has taken a concrete step towards manufacturing of advanced avionics equipment for commercial platforms, after proving its mettle in the military aerospace segment. Multifunction Displays manufactured by Samtel – through its JV with HAL – are already being inducted on Block III & IV Su-30 MKI aircraft being manufactured by HAL. The deal is also in tandem with US government’s thrust to boost trade ties between India and the US. In his recent visit to India, US Deputy Secretary of Defence had emphasised their keenness to grow strategic partnerships with Indian industry.
Commenting on this order, Mr. Puneet Kaura, Executive Director, Samtel Avionics & Defence Systems said, “Samtel and Honeywell have had a successful relationship in the Avionics space and we are happy to take this relationship to the next level. Samtel is now poised to become India’s First Complete Avionics Firm in the private domain, and our partnerships with global giants such as Honeywell will help us cement our position.”
Your company’s press release on ASDNews and to thousands of other journalists and editors? Use our ASDWire press release distribution service.
Source : Samtel Avionics & Defence Systems