Garmin's (GRMN) New GFC 500 Certification to Aid Aviation Unit
Garmin (GRMN) receives STC from the FAA for GFC 500 autopilot use in Beechcraft 19 Sport, Beechcraft 23 Musketeer/Sundowner, and Beechcraft 24 Musketeer/Sierra aircraft models.
Garmin Ltd. GRMN 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 Certification (“STC”) from Federal Aviation Administration (“FAA”) for use in Beechcraft 19 Sport, Beechcraft 23 Musketeer/Sundowner, and Beechcraft 24 Musketeer/Sierra aircraft models. The approval is a testament to the company’s focus on strengthening the aviation portfolio.
Notably, GFC 500 offers robust autopilot performance, strong reliability and advanced safety benefits. Further, 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.
We note that the latest certification highlights the reliability of Garmin’s aviation technology.
The company’s aviation business is likely to benefit from the above-mentioned certification.
Apart from the latest certification, the company’s GFC 600 digital auto-pilot received STC from the FAA for use in Piper Meridian (PA-46-500TP) aircraft.
The GFC 500 autopilot received a STC from the FAA for use in select Piper PA-24 Comanche aircraft.
Further, it received STC from the 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.
Its GFC 600 digital autopilot received STC from the FAA for use in Beechcraft King Air C90 aircraft and E90 aircraft.
GFC 500 Autopilot received STC from the 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 the FAA and European Aviation Safety Agency for use in Daher TBM 940 business jet.
Aviation in Focus
We believe that the growing certifications will continue to drive the aviation segment’s top line.
Garmin’s family of autonomous safety solutions — Garmin Autonomi, which comprises Emergency Descent Mode and Electronic Stability and Protection, and Autoland — has emerged as a key catalyst.
A robust flight display and flight deck portfolio have been playing a crucial role in shaping the growth trajectory of Garmin’s aviation business.
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 top line.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Square, Inc. SQ, Semtech Corp. SMTC and Avnet, Inc. AVT, each currently flaunting a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rates for SQ, Avnet and Semtech are currently projected at 31.38%, 25.4% and 12.5%, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Garmin Ltd. (GRMN): Free Stock Analysis Report
Avnet, Inc. (AVT): Free Stock Analysis Report
Semtech Corporation (SMTC): Free Stock Analysis Report
Square, Inc. (SQ): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research