Honeywell Pockets T55 Engine Contract From US Army To Support South Korea's Procurement Of New CH-47F Aircraft

Honeywell International Inc HON has bagged an order for 41 T55-GA-714A engines to aid South Korea's procurement of new CH-47F aircraft. The financial terms of the contract were not disclosed.

The order and supply of the T55 engines is managed through the office of U.S. Army Foreign Military Sales.

Honeywell's T55 engine specializes in powering heavy lift helicopters and has powered over 1,000 CH-47 helicopters that are operated by militaries and civil aviation entities.

"We have a longstanding relationship with South Korea, and we appreciate the opportunity to continue supporting them on their new CH-47F Block I Helicopters with our latest T55-GA-714A engine configuration," said Dave Marinick, president, Engines and Power Systems, Honeywell Aerospace.

Honeywell first delivered the T55 engine to the U.S. Army in 1961 at 2,200 shaft horsepower for the CH-47A helicopter. 

The next generation 714C engine grows to a 6,000-shaft horsepower class engine, while consuming 8% less fuel than the current T55.

Also Read: VSE Inks Asset Purchase And Perpetual License Agreement With Honeywell

Price Action: HON shares closed higher by 2.58% at $184.66 on Friday.