Garmin GRMN is leaving no stone unturned to bolster its aviation business unit on the back of its robust autonomous flight solutions.
The company’s emergency autoland technology integrated Cirrus Aircraft’s Cirrus Vision Jet Safe Return system has received certification from Federal Aviation Administration (FAA).
Notably, Safe Return enables Vision Jet passengers to land by just touching a button. It has been gaining strong traction by delivering autonomous flight experience to pilots and passengers on the heels of Garmin Autoland.
This highlights the reliability of Garmin’s technology, which bodes well for growth of its aviation business.
Moreover, the latest achievement is likely to strengthen the relationship between Garmin and Cirrus Aircraft.
Autoland Gaining Steam
With the aid of Autoland, Garmin strives to deliver safe, smooth and technically efficient flight performance by reducing pilot’s workload.
The FAA certification along with the robust features of Autoland will continue to strengthen the company’s presence in the autonomous flight technology space.
Moreover, Autoland technology, which takes complete control of the flight in order to land the airplane safely at the nearest runway in case of an emergency, is likely to help Garmin in gaining momentum among the aircraft companies courtesy of its advanced safety features.
Apart from the latest certification, Garmin Autoland system has recently received certification from FAAfor use in Piper M600 jet via its G3000 integrated flight deck.
Further, Autoland system is going to be available on the Daher TBM 940 aircrafts after receiving approval.
Aviation Segment in Focus
We believe the latest certification is likely to drive the company’s top line, which has been gaining from the well-performing aviation business.
Moreover, Garmin’s aviation business unit is likely to witness growth with the increasing adoption of Autoland. This, in turn, will drive the segment’s revenue growth.
Moreover, the company’s family of autonomous safety solutions— Garmin Autonomi, which comprises Emergency Descent Mode (EDM) and Electronic Stability and Protection (ESP), and Autoland has emerged as key catalyst of its aviation business.
Apart from this, strengthening flight display and deck offerings by Garmin also remain noteworthy.
Further, Garmin’saviation business remains robust with its solutions remaining popular at both OEM and after-market customers.
Zacks Rank & Other Stocks to Consider
Garmin currently sports a Zacks Rank #2 (Buy).
Some other top-ranked stocks worth considering in the broader computer and technology sector are salesforce.com (CRM - Free Report) , Lam Research (LRCX - Free Report) and Blackbaud (BLKB - Free Report) , all of which flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for salesforce.com, Lam Research and Blackbaud are pegged at 18%, 15.42% and 7.59%, respectively.
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