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Garmin Gets G1000 NXi Upgrade Certification for Piper Meridian
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Garmin Ltd. (GRMN - Free Report) is making every effort to bolster aviation business unit on the back of its strengthening flight deck offerings.
The company’s G1000 NXi integrated flight deck upgrade received certification from Federal Aviation Administration (FAA) for use in the Piper Meridian aircrafts. This approval is a testament to the company’s focus on strengthening aviation portfolio.
G1000 NXi upgrade is well-poised to deliver enhanced flight experience to pilots courtesy of its advanced capabilities, responsive display, and features like visual approaches, geographical map and overlay within the HSI among others.
Further, the flight deck features SurfaceWatch, which provides situational awareness during takeoff and landing to pilots. It also features Flight Stream 510 that offers weather, GPS and back-up attitude information, and enables traffic sharing and two-way flight plan transfer.
Growing Certifications
Garmin is likely to benefit from the abovementioned features, which are expected to drive adoption of G1000 NXi upgrade programs.
Apart from the latest certification, G1000 NXi upgrade has 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.
Additionally, the company received certification from EASA for utilization of G3X Touch flight display in single-engine certificated aircrafts.
We believe growing certification of the company’s flight decks are expected to drive the aviation segment’s topline.
Robust flight display and flight deck portfolio has been playing a crucial role in shaping the growth trajectory of Garmin’s aviation business.
Moreover, its 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.
Additionally, the company enjoys solid momentum acrossOEM and after-market customers on the back of its popular aviation solutions.
Last year, gross margin from this segment came in at 75%. The company’s initiatives to expand portfolio and enhance existing product lines are therefore positive. Also, the segment contributed 19% to total revenues in 2019.
Hence, growing endeavors to strengthen the aviation segment will continue to drive Garmin’s topline in the near term.
Long-term earnings growth rate for Lam Research, Apple and Blackbaud is pegged at 15.42%, 10.67% and 7.59%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Garmin Gets G1000 NXi Upgrade Certification for Piper Meridian
Garmin Ltd. (GRMN - Free Report) is making every effort to bolster aviation business unit on the back of its strengthening flight deck offerings.
The company’s G1000 NXi integrated flight deck upgrade received certification from Federal Aviation Administration (FAA) for use in the Piper Meridian aircrafts. This approval is a testament to the company’s focus on strengthening aviation portfolio.
G1000 NXi upgrade is well-poised to deliver enhanced flight experience to pilots courtesy of its advanced capabilities, responsive display, and features like visual approaches, geographical map and overlay within the HSI among others.
Further, the flight deck features SurfaceWatch, which provides situational awareness during takeoff and landing to pilots. It also features Flight Stream 510 that offers weather, GPS and back-up attitude information, and enables traffic sharing and two-way flight plan transfer.
Growing Certifications
Garmin is likely to benefit from the abovementioned features, which are expected to drive adoption of G1000 NXi upgrade programs.
Apart from the latest certification, G1000 NXi upgrade has 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.
Additionally, the company received certification from EASA for utilization of G3X Touch flight display in single-engine certificated aircrafts.
Garmin Ltd. Revenue (TTM)
Garmin Ltd. revenue-ttm | Garmin Ltd. Quote
Aviation in Focus
We believe growing certification of the company’s flight decks are expected to drive the aviation segment’s topline.
Robust flight display and flight deck portfolio has been playing a crucial role in shaping the growth trajectory of Garmin’s aviation business.
Moreover, its 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.
Additionally, the company enjoys solid momentum acrossOEM and after-market customers on the back of its popular aviation solutions.
Last year, gross margin from this segment came in at 75%. The company’s initiatives to expand portfolio and enhance existing product lines are therefore positive. Also, the segment contributed 19% to total revenues in 2019.
Hence, growing endeavors to strengthen the aviation segment will continue to drive Garmin’s topline in the near term.
Zacks Rank & Other Stocks to Consider
Garmin currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks worth considering in the broader computer and technology sector are Lam Research (LRCX - Free Report) , Apple (AAPL - 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 Lam Research, Apple and Blackbaud is pegged at 15.42%, 10.67% and 7.59%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>