Honeywell CEO says ability to supply parts will determine aerospace unit’s growth

(Reuters) – Growth in Honeywell (NASDAQ:)’s aerospace business next year will be determined by its ability to supply parts to Boeing (NYSE:) and Airbus, not demand, the industrial giant’s CEO said at a conference on Wednesday.

Demand for aircraft parts remains strong but shortages of parts and labor persist, hobbling the industry’s capacity to capitalize on an aviation boom.

On Tuesday, the chairman of another aerospace supplier RTX sounded the alarm on global supply chains in the wake of the COVID-19 pandemic and warned that finding qualified labor for in-demand jet industry production lines remains a “huge” challenge.