BENGALURU, April 11 (Reuters) – Aerospace parts maker Honeywell International Inc (HON.O) said it was exploring adding more suppliers as it prepares to meet higher demand from planemakers Boeing Co (BA.N) and Airbus SE (AIR.PA), which are ramping up production to cater to a surge in air travel.
Honeywell, which builds everything from engines to cockpit components, said it was focused on diversifying its supplier base of parts and raw materials in situations where the company sources them from two vendors.
“It is a constant effort (to find new suppliers)”, Benjamin Driggs, president of Honeywell’s high growth regions, said in an interview with Reuters on Friday.
The company’s main raw materials for its aerospace unit include titanium, which has been under focus due to its importance in making lightweight airframes and given Russia’s position as a key supplier for the metal.
Some parts makers are actively looking for raw material sources beyond Russia, with the country’s aero industry crippled by a barrage of sanctions after Moscow invaded Ukraine. Read more
