Honeywell's Split: Who Will Thrive in the Aerospace Boom?

Honeywell International recently split into three separate companies: Solstice Advanced Materials (SOLS), Honeywell Technologies (HON), and Honeywell Aerospace (HONA). The aerospace sector is expected to see significant growth, with a projected compound annual growth rate of 7.7% from $434.17 billion in 2023 to $846.30 billion by 2035.

Honeywell Aerospace appears to be the most exposed to this growth, as it reported 15% year-over-year sales growth in its third quarter of 2025 under Honeywell International's umbrella. Since its spinoff, the company has trimmed its full-year sales growth guidance from 7-9% to 4-5%, but still expects significant revenue with a backlog of $18.1 billion.

Honeywell Aerospace also secured major contract wins, including a historic deal with Indian carrier IndiGo for its flagship avionics and power systems on 810 new Airbus A320neo family aircraft. The company's orders provide transparency into its earnings over the next couple of years, largely tied to defense modernization programs and military avionics upgrades.