Garmin Ltd. ( GRMN Quick Quote GRMN - Free Report) is leaving no stone unturned to bolster the aviation business on the back of its robust autonomous flight solutions. The company’s GFC 500 autopilot received Supplemental Type Certificate (“STC”) from Federal Aviation Administration (“FAA”) for use in Beech H/J/K/M 35 Bonanza, Cessna 210 D/E/F and T210F, and pre-1965 Mooney M20 C/D/E aircraft. GFC 500 offers robust autopilot performance, strong reliability and advanced safety benefits. It features superior in-flight characteristics and self-monitoring capabilities, and comes with minimal maintenance needs. It also features altitude pre-select, VNAV2, and altitude hold, vertical speed and heading modes. The latest certification highlights the reliability of Garmin’s aviation technology. Growing Certifications
The company’s aviation business is likely to benefit from winning certifications.
Apart from the latest certification, GFC 500 autopilot received a STC from FAA for use in select Piper PA-24 Comanche aircraft. Its GFC 600 digital autopilot received STC from FAA for use in Beechcraft King Air C90 aircraft and E90 aircraft. GFC 500 Autopilot received STC from FAA for use in the Cessna 172RG and Mooney M20 (C to G models) aircraft. The G1000 NXi upgrade received certification for use in the Prodigy Flight Deck-equipped Embraer Phenom 300 business jet. The company’s Garmin Autoland received certification from FAA and European Aviation Safety Agency for use in Daher TBM 940 business jet. Aviation in Focus
We believe that the latest certification will drive the company’s top line, which has been gaining from the well-performing aviation business on the back of its robust aviation portfolio.
Garmin recently unveiled GWX 8000 StormOptix weather radar to provide an extensive weather threat analysis as well as simplify operations for pilots. It also launched the latest models of GSB- 15, a USB charger for different aircraft. Further, Garmin acquired AeroData, a provider of aircraft performance data solutions for commercial and business aviation, which isa positive. The company has made its TXi- engine indication system available for twin turboprop aircraft like Cessna 425, the King Air 90 series, and select Pratt & Whitney PT6A turboprop-powered Piper Cheyenne I and II. The company’s family of autonomous safety solutions, Garmin Autonomi, which comprises Emergency Descent Mode, Electronic Stability and Protection, and Autoland—has emerged as a key catalyst for its aviation business. Apart from this, strengthening flight display and deck offerings by Garmin remain noteworthy. The company’s aviation business remains robust with its solutions remaining popular for both OEM and aftermarket customers. Zacks Rank & Other Stocks to Consider
Currently, Garmin carries a Zacks Rank #2 (Buy).
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