Garmin plans to advance the marine market by building on an expanding product portfolio with a new range of radars.
Garmin International Inc recently announced the introduction of its GMR Fantom 254/256 open array radars, specially designed for the marine industry.
With short and long range target detection performance, as well as coherence, the new series of radars is equipped with ‘MotionScope’ technology and adjustable speed threshold, detecting moving targets in real time. According to Garmin, the radars will help inform boaters and fishermen of other boats, flocks of birds or the weather ahead.
Additionally, the new radars come with enhanced features such as scan-to-scan averaging and enhanced mini-automatic radar plotting aid (MARPA) with Automatic Acquisition, which provides higher target accuracy and more visibility for explorers. According to Garmin, these capabilities provide a clear visual range of the water ahead and eliminate clutter that could interfere with the consistency of target detection.
Garmin is a global provider of navigation, communications and information devices, and says it expects the new product range to expand its marine sales and market share, focusing on technologies and innovations to enhance user experiences.
In the last reported quarter, Garmin generated sales of $ 157.8 million in the marine segment, which increased 4% year-over-year. The company said it saw solid momentum in advanced plotters and sonars during the quarter, boosting revenue from the segment.
Garmin stock currently has a Strong Buy recommendation (# 1) from Zachs and was trading at all-time highs in early September.