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A spin-off, the separation of a business unit into its own publicly traded company, brought Honeywell's aerospace division to market independently in June 2026. The new entity, Honeywell Aerospace Inc.
(NASDAQ: HONA), makes aircraft components, avionics, engines, and systems. Investment advisor Madison Investments named it a new holding for its Madison Large Cap Fund in the fund's second-quarter 2026 investor letter.
Here is what that means in practice. Honeywell Aerospace products appear on roughly 90% of commercial aircraft currently in service, according to the fund's letter.
That installed base creates a steady flow of maintenance and replacement business on top of whatever new programs the company wins. Its customers include aircraft manufacturers, government buyers, and airline operators.
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