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Garmin (GRMN) to Boost Aviation Segment With Latest Move
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Garmin (GRMN - Free Report) is leaving no stone unturned to expand the aviation portfolio with product launches and upgrades to the existing systems.
This is evident from its recent move of providing TXi- engine indication system (EIS) support 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 new system includes advanced features that will help the twin turbine aircraft owners and operators in reducing pilot workload and maintenance costs as well as improving efficiency of the engine.
Also, the TXi flight display will help them view EIS information, interpret engine data and simplify cockpit operations.
These features are expected to expand Garmin’s reach to twin turbine aircraft owners and operators, thereby boosting the aviation segment.
Garmin is making strong efforts to boost prospects of the aviation segment by providing advanced solutions to original equipment manufacturers, and aftermarket, military and government customers. The recent launch is also an effort in this direction.
Apart from the latest move, Garmin recently unveiled GWX 8000 StormOptix weather radar to provide an extensive weather threat analysis and simplify operations for the pilot. It also launched latest models of GSB- 15, a USB charger for different aircrafts.
Further, last month, Garmin bought AeroData — a provider of aircraft performance data solutions for commercial and business aviation — to expand reach in aviation services.
Moreover, Garmin recently got Supplemental Type Certificate from Federal Aviation Administration for GFC- 600 digital autopilot in Pilatus PC-12/41 and PC-12/45 aircraft.
All these endeavors are expected to contribute well to revenues from the aviation segment. The segment generated $173 million sales, accounting for 16% of total net sales in first-quarter 2021.
Garmin’s Portfolio Strength
Garmin’s efforts to expand the product portfolio are expected to strengthen prospects across various end-markets served.
Earlier this month, it introduced an all-new 2021 dash cam series with voice controlling features, automatic video storage and Live View monitoring options for drivers to record any incident occurring in front of the vehicle.
In addition, the company recently launched MS-RA60 marine stereo that provides high-quality onboard entertainment to boaters at an affordable price.
Further, Garmin launched a free software update to enhance navigation capabilities of Edge 530, Edge 830, Edge 1030 and Edge 1030 Plus GPS cycling computers for providing better experience to cyclists.
Further, the company introduced Descent Mk2S — a daily wear smartwatch — last month. The smartwatch comprises numerous underwater diving features and additional options to track users’ daily lifestyle.
We note that these endeavours are expected to drive Garmin’s top line in the upcoming period.
Long-term earnings growth rates for MACOM, Apple and Microchip are currently projected at 37%, 12.5% and 15.3%, 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 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Bigstock
Garmin (GRMN) to Boost Aviation Segment With Latest Move
Garmin (GRMN - Free Report) is leaving no stone unturned to expand the aviation portfolio with product launches and upgrades to the existing systems.
This is evident from its recent move of providing TXi- engine indication system (EIS) support 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 new system includes advanced features that will help the twin turbine aircraft owners and operators in reducing pilot workload and maintenance costs as well as improving efficiency of the engine.
Also, the TXi flight display will help them view EIS information, interpret engine data and simplify cockpit operations.
These features are expected to expand Garmin’s reach to twin turbine aircraft owners and operators, thereby boosting the aviation segment.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Aviation Segment in Focus
Garmin is making strong efforts to boost prospects of the aviation segment by providing advanced solutions to original equipment manufacturers, and aftermarket, military and government customers. The recent launch is also an effort in this direction.
Apart from the latest move, Garmin recently unveiled GWX 8000 StormOptix weather radar to provide an extensive weather threat analysis and simplify operations for the pilot. It also launched latest models of GSB- 15, a USB charger for different aircrafts.
Further, last month, Garmin bought AeroData — a provider of aircraft performance data solutions for commercial and business aviation — to expand reach in aviation services.
Moreover, Garmin recently got Supplemental Type Certificate from Federal Aviation Administration for GFC- 600 digital autopilot in Pilatus PC-12/41 and PC-12/45 aircraft.
All these endeavors are expected to contribute well to revenues from the aviation segment. The segment generated $173 million sales, accounting for 16% of total net sales in first-quarter 2021.
Garmin’s Portfolio Strength
Garmin’s efforts to expand the product portfolio are expected to strengthen prospects across various end-markets served.
Earlier this month, it introduced an all-new 2021 dash cam series with voice controlling features, automatic video storage and Live View monitoring options for drivers to record any incident occurring in front of the vehicle.
In addition, the company recently launched MS-RA60 marine stereo that provides high-quality onboard entertainment to boaters at an affordable price.
Further, Garmin launched a free software update to enhance navigation capabilities of Edge 530, Edge 830, Edge 1030 and Edge 1030 Plus GPS cycling computers for providing better experience to cyclists.
Further, the company introduced Descent Mk2S — a daily wear smartwatch — last month. The smartwatch comprises numerous underwater diving features and additional options to track users’ daily lifestyle.
We note that these endeavours are expected to drive Garmin’s top line in the upcoming period.
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 (MTSI - Free Report) , Apple (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.
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 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>