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Garmin's (GRMN) Latest Agreement to Boost Aviation Segment
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Garmin (GRMN - Free Report) has entered into a definitive agreement with Deutsche Aircraft, which has chosen the Garmin G5000 integrated flight deck for the D328eco regional turboprop aircraft.
Garmin’s G5000 integrated flight deck, which simplifies operations and minimizes flight crew workload with the help of its advanced features and touchscreen displays, will be incorporated in Deutsche Aircraft’s D328eco Companion.
Moreover, G5000 is equipped with geo-referenced airport diagrams that help pilots in navigating busy airports and terminals.
We note that the underlined agreement adds strength to the client base of Garmin, which in turn is likely to contribute well to the aviation business segment growth.
The latest agreement with Deutsche Aircraft highlights the reliability and robustness of Garmin’s aviation portfolio.
Notably, Garmin is making strong efforts toward bolstering the aviation segment. The company offers various aircraft solutions including integrated avionics to navigators, datalinks, weather radars, traffic systems and advanced sensors.
The company recently introduced new models of GSB 15. GSB 15 is a powerful USB charger, whose new models are comprised of two USB ports supporting up to 27W of power output per port.
Moreover, it unveiled GWX 8000 StormOptix weather radar to provide an extensive weather threat analysis and simplify operations for the pilot.
Also, the recent acquisition of AeroData — which is a provider of aircraft performance software and services — has expanded the company’s aviation product portfolio.
Wrapping Up
We note that the strengthening endeavors to expand aviation offerings will continue to drive Garmin’s momentum across customers and bolster its presence in the aviation industry.
Per a report from Mordor Intelligence, the aviation market is expected to hit $303 billion by 2026, witnessing a CAGR of 7.6% during the period of 2021-2026.
Additionally, the company has earned several certifications.
The GFC 500 autopilot received a Supplemental Type Certificate (“STC”) from Federal Aviation Administration (“FAA”) for use in select Piper PA-24 Comanche aircraft. The approval is a testament to the company’s focus on strengthening the aviation portfolio.
Further, its GFC 500 digital autopilot received STC from FAA for use in Socata TB 20 and TB 21 aircraft.
Also, GFC 500 Autopilot received STC from FAA for use in the Cessna 172RG and Mooney M20 (C to G models) aircraft. Further, the G1000 NXi upgrade received certification for use in the Prodigy Flight Deck-equipped Embraer Phenom 300 business jet.
Also, the company earned European Union Aviation Safety Agency approval of an Automatic Dependent Surveillance-Broadcast solution for the ATR 42 and ATR 72 turboprop aircraft.
We note that growing adoption of the company’s aviation products and solutions will likely drive top-line growth of the aviation segment.
Long-term earnings growth rates for MACOM, Apple and Microchip are currently projected at 37%, 12.5% and 15.3%, respectively.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research SherazMian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Garmin's (GRMN) Latest Agreement to Boost Aviation Segment
Garmin (GRMN - Free Report) has entered into a definitive agreement with Deutsche Aircraft, which has chosen the Garmin G5000 integrated flight deck for the D328eco regional turboprop aircraft.
Garmin’s G5000 integrated flight deck, which simplifies operations and minimizes flight crew workload with the help of its advanced features and touchscreen displays, will be incorporated in Deutsche Aircraft’s D328eco Companion.
Moreover, G5000 is equipped with geo-referenced airport diagrams that help pilots in navigating busy airports and terminals.
We note that the underlined agreement adds strength to the client base of Garmin, which in turn is likely to contribute well to the aviation business segment growth.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Aviation Portfolio Strength
The latest agreement with Deutsche Aircraft highlights the reliability and robustness of Garmin’s aviation portfolio.
Notably, Garmin is making strong efforts toward bolstering the aviation segment. The company offers various aircraft solutions including integrated avionics to navigators, datalinks, weather radars, traffic systems and advanced sensors.
The company recently introduced new models of GSB 15. GSB 15 is a powerful USB charger, whose new models are comprised of two USB ports supporting up to 27W of power output per port.
Moreover, it unveiled GWX 8000 StormOptix weather radar to provide an extensive weather threat analysis and simplify operations for the pilot.
Also, the recent acquisition of AeroData — which is a provider of aircraft performance software and services — has expanded the company’s aviation product portfolio.
Wrapping Up
We note that the strengthening endeavors to expand aviation offerings will continue to drive Garmin’s momentum across customers and bolster its presence in the aviation industry.
Per a report from Mordor Intelligence, the aviation market is expected to hit $303 billion by 2026, witnessing a CAGR of 7.6% during the period of 2021-2026.
Additionally, the company has earned several certifications.
The GFC 500 autopilot received a Supplemental Type Certificate (“STC”) from Federal Aviation Administration (“FAA”) for use in select Piper PA-24 Comanche aircraft. The approval is a testament to the company’s focus on strengthening the aviation portfolio.
Further, its GFC 500 digital autopilot received STC from FAA for use in Socata TB 20 and TB 21 aircraft.
Also, GFC 500 Autopilot received STC from FAA for use in the Cessna 172RG and Mooney M20 (C to G models) aircraft. Further, the G1000 NXi upgrade received certification for use in the Prodigy Flight Deck-equipped Embraer Phenom 300 business jet.
Also, the company earned European Union Aviation Safety Agency approval of an Automatic Dependent Surveillance-Broadcast solution for the ATR 42 and ATR 72 turboprop aircraft.
We note that growing adoption of the company’s aviation products and solutions will likely drive top-line growth of the aviation segment.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector include MACOM Technology Solutions Holdings, Inc. (MTSI - Free Report) , Apple Inc. (AAPL - Free Report) and Microchip Technology Incorporated (MCHP - Free Report) . MACOM, Apple and Microchip carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rates for MACOM, Apple and Microchip are currently projected at 37%, 12.5% and 15.3%, respectively.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research SherazMian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>