Garmin (GRMN) GFC 500 Autopilot Certification to Aid Aviation Unit
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 GFC 500 Autopilot received Supplemental Type Certification from Federal Aviation Administration (“FAA”) for use in the Cessna 172RG and Mooney M20 (C to G models) aircraft.
This approval is a testament to the company’s focus on strengthening the aviation portfolio. Moreover, it highlights the reliability of Garmin’s aviation technology.
Notably, GFC 500 autopilot, which features a simple, lightweight, cost-effective autopilot upgrade path, offers superior in-flight characteristics and self-monitoring capabilities.
Further, it integrates with the GI 275 or G5 electronic flight instruments, which enhance the autopilot performance of the aircraft.
Growing Certifications
Garmin’s aviation business is likely to benefit from the above-mentioned certification.
Apart from the latest certification, G1000 NXi upgrade recently received certification for use in the Prodigy Flight Deck equipped Embraer Phenom 300 business jet.
Further, the company’s Garmin Autoland received certification from FAA and European Aviation Safety Agency (“EASA”)for use in Daher TBM 940 business jet.
It also received certification from FAA for its Autoland use in Piper M600 jet via its G3000 integrated flight deck.
Furthermore, Autoland integrated Cirrus Aircraft’s Cirrus Vision Jet Safe Return system has received certification from the FAA.
Additionally, the company received certification from EASA for the utilization of G3X Touch flight display in single-engine certificated aircraft.
Garmin Ltd. Revenue (TTM)
Garmin Ltd. revenue-ttm | Garmin Ltd. Quote
Aviation in Focus
We believe that growing certifications will continue to drive the aviation segment’s topline.
Garmin’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 a key catalyst.
Moreover, a robust flight display and flight deck portfolio havebeen playing crucial roles in shaping the growth trajectory ofGarmin’s aviation business.
Additionally, the company enjoys solid momentum across OEM and after-market customers on the back of its popular aviation solutions.
Hence, the growing endeavors to strengthen the aviation segment will continue to drive Garmin’s topline in the near term.
Zacks Rank & Other Stocks to Consider
Currently, Garmin carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Covetrus, Inc. CVET, Trimble Inc. TRMB and Vishay Intertechnology, Inc. VSH. All three companies carry a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Long-term earnings growth rates for Covetrus, Trimble and Vishay are currently pegged at 20.1%, 10% and 2.58%, respectively.
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