News Summary
Sunshine Avionics has made a significant acquisition from Honeywell, securing rights to produce and service Boeing aircraft hardware systems. This exclusive license for key technologies like the Airplane Information Management System for the 777 and Versatile Integrated Avionics system for the 737 marks a major milestone for the Miramar-based company. With this expansion, Sunshine Avionics aims to enhance aviation maintenance, generate local jobs, and strengthen the regional economy in South Florida.
Exciting News for Miramar as Sunshine Avionics Takes Flight!
Miramar, Florida is buzzing with excitement after the recent announcement that Sunshine Avionics, a local subsidiary of Heico Corporation, has made a significant acquisition from Honeywell. This acquisition involves the key rights and assets for Boeing aircraft hardware, setting up Sunshine Avionics for a thrilling new chapter in aviation maintenance and repair.
What This Acquisition Means
So, what exactly did Sunshine Avionics acquire? The deal, structured as an exclusive perpetual license and asset purchase, grants them the rights to produce, sell, and service aircraft hardware systems for the Boeing 777 and Boeing 737 families. This includes the Airplane Information Management System (AIMS) for the 777 and the Versatile Integrated Avionics (VIA) system for the 737. These systems play crucial roles in modern aviation, managing key cockpit displays and diagnostics.
Under Honeywell’s scope, these systems have been pivotal since their respective aircraft launches. However, with Sunshine Avionics now holding the reins, they’re set to take over all hardware activities that Honeywell once managed.
Industry Shifts and Corporate Restructuring
This acquisition comes on the heels of calls from billionaire Paul Singer’s hedge fund, Elliott Investment Management, urging Honeywell to separate its aerospace and automation businesses. With a substantial stake exceeding $5 billion in Honeywell, Elliott’s influence has raised eyebrows and sparked changes within the corporate structure.
As Sunshine Avionics steps up, they will perform all engineering, production, and customer support functions from their headquarters in Miramar, showcasing their commitment to enhancing the aviation industry’s technical expertise and sustaining legacy fleets.
Local Economic Impact
This move is not only exciting for Sunshine Avionics but also for the broader aviation community in South Florida. The region currently employs around 66,000 people in various aviation roles, and with companies like Sunshine Avionics expanding, the future looks bright.
Miramar, and Broward County as a whole, is becoming a hotspot for aviation and MRO (maintenance, repair, overhaul) companies. Just look at recent developments: Ontic is opening its eighth location in the area, creating 88 new jobs; ARC 145 is relocating to a new facility and looking to add 20 employees; and VSE Corp. is moving in from Virginia with plans to hire 110 more employees. This activity is creating a buzz that enhances the local economic landscape.
Sunshine Avionics’s Historic Growth
Founded in 2004, Sunshine Avionics is part of Heico’s Flight Support Group, which focuses on maintenance, repair, overhaul services, and manufacturing parts for the advanced avionics aftermarket. Just last year, they entered into a significant deal with Honeywell concerning Boeing cockpit displays and legacy product lines, demonstrating their ongoing commitment to growth and innovation.
As they expand their operations to an impressive 38,000 square feet in the Miramar Park of Commerce, it’s clear Sunshine Avionics is gearing up for even more big things ahead.
Looking Ahead
With this latest acquisition and an increasing footprint in the local aviation scene, Sunshine Avionics is poised not just to navigate but to soar high in the aviation world. This deal isn’t just a win for the company but represents a step towards bringing high-skill manufacturing jobs back to the US, showcasing a bright future for Miramar’s economy and its dedicated workforce.
So keep your eyes peeled, Miramar! The aviation scene is buzzing, and it looks like the sky’s the limit for Sunshine Avionics as they embark on this exciting journey.
Deeper Dive: News & Info About This Topic
- South Florida Business Journal
- Wikipedia: Aviation Industry
- PR Newswire
- Google Search: aviation acquisitions 2023
- Aviation Week
- Encyclopedia Britannica: Aerospace Industry
- Reuters
- Google News: sunshine avionics honeywell acquisition
