(Reuters) - U.S. conglomerate Honeywell (NASDAQ:HON) said on Wednesday it had agreed to acquire Swedish aerospace firm Saab (ST:SAABb) heads-up display (HUD) assets to strengthen its avionics unit.
The HUDs will be integrated into aircraft cockpit systems, adding features such as wide field-of-view, high image resolution, low system latency and lower weight.
The HUD system helps pilots with increased situational awareness, especially at night or in difficult weather conditions.
The deal comes at a time when Honeywell, which is a supplier to Boeing (NYSE:BA) and Airbus, has been benefiting from a ramp up in production at planemakers and strong demand for aftermarket parts and services.
"Heads-up displays have been known to reduce pilot workload, increase situational awareness, improve access to airports with enhanced flight vision system and safety," said Vipul Gupta, general manager, avionics, Honeywell Aerospace.
Financial terms of the transaction were not disclosed.