Profile: Garmin Ltd (GRMN.O)
9 Dec 2016
Garmin Ltd. (Garmin), incorporated on February 9, 2010, and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. Garmin designs, develops, manufactures, markets and distributes a family of hand-held, wearable, portable and fixed-mount GPS-enabled products and other navigation, communications, sensor-based and information products. The Company operates through five business segments: marine, outdoor, fitness, auto and aviation.
Garmin offers a range of products designed for use in the recreational marine industry. Garmin offers its products to consumers around the world, including Chartplotters and Multi-Function Displays (MFDs), Fishfinders, Sounders, Autopilot Systems, Radar, Instruments, Very High Frequency (VHF) Communication Radios, Handhelds and Wrist-worn Devices, Sailing and Entertainment. Garmin offers chartplotters/MFDs under the GPSMAP and echoMAP product lines. The offerings range from four-inch portable and fix-mounted products to 19-inch Glass Helm offerings. Cartography options range from the United States coastal and inland lake mapping to around the world basemaps to detailed BlueChart g2 Visio to LakeVu HD Ultra charts offering auto-guidance, three dimension (3-D) chart views and aerial reference photos. Garmin offers the Striker series, which incorporate GPS technology. These fishfinders are available in screen sizes from 4 to 7 inches and are paired with its sonar transducers to provide the clear sonar pictures on the water. DownVu sonar is offered on the four, five and seven inch models, which provide high resolution images of what is below the boat. The seven-inch model also offers a SideVu option, which provides similar high resolution images. Garmin offers black-box sounders and smart transducers. Its transducer line Panoptix uses technology to provide detailed images that can be seen real-time (LiveVu). Panoptix also offers 3D sonar views of the landscape underneath the water. The RealVu 3D and 3D historical views are available in thru-hull and transom mount versions of its Panoptix DownVu product. Panoptix's other features include LiveVu and RealVu 3D real-time presentation.
Garmin offers marine autopilot systems designed for sailboats and powerboats. The systems incorporate features, such as Garmin's patented Shadow Drive technology, which automatically disengages the autopilot if the helm is turned, remote steering and speed control, and integration with the Volvo Penta Inboard Performance System (IPS) steering and propulsion system. Garmin also offers steer-by-wire autopilot capabilities for various steering systems. Garmin offers both radomes and open array radar products with compatibility to any network-compatible Garmin chartplotter. The Garmin radar solutions range from 18 inches to 6 feet antennas and from 4 kilowatts up to 25 kilowatts with a maximum range of over 96 nautical miles. Garmin offers NMEA 2000 and NMEA 0183 compliant instrument displays that show data from multiple remote sensors on one screen. Garmin instruments range from 4 to 7 inches and include over 10-inch mast mounted displays for visibility around the vessel. Garmin provides marine radios with differing feature sets for the radio needs of all types of mariners. Garmin offers a GPS handheld offering a 3-axis tilt-compensated electronic compass, wireless data transfer between compatible units and preloaded cartography for the coastal United States. For mariners it offers a GPS watch quatix, which combines marine features and navigation and sailing capabilities while integrating Garmin's GPS technology and interface. Its sailing features include enhanced wind rose, pre-race guidance, synchronized race timer, virtual starting line, time to burn and lay line data fields. Its entertainment brand, Fusion, consists of marine audio head units, speakers and amplifiers. These products are designed specifically for the marine environment and support various connectivity options for integrating with MFDs and smartphones on user's boat.
Garmin offers a range of products designed for use in outdoor activities. Its products include Outdoor Handhelds, Wearable Devices, Golf Devices, Dog Tracking and Training/Pet Obedience Devices and Action Cameras. Outdoor handhelds range from basic waypoints navigation capabilities to advanced color touchscreen devices offering barometric altimeter, 3-axis compass, camera, microSD card slot for optional customized maps, Bluetooth for smartphone connectivity and other features. Outdoor handhelds are sold under the Oregon, Rino, Montana, Monterra, eTrex and GPSMAP product lines. Garmin offers GPS ruggedized smartwatches for outdoor activity. The fenix 3 provides advanced multisport features for hiking, climbing, skiing, running, cycling, and swimming. The epix provides advanced multisport features, comprehensive mapping, navigation and tracking functionalities, as well as trip information, such as heading, elevation and weather changes. The tactix adds additional features inspired by the requirements of law enforcement and police special operations. The Approach series of golf-focused devices includes both handhelds and wrist-worn products with over 40,000 preloaded golf courses. The offerings range from basic display of yardages to the front, back and middle of greens to advanced, touchscreen devices providing measurement of individual shot distances and display of the slope-adjusted yardage to fairways, hazards and greens. Garmin offers a series of dog-focused products providing a range of functionality, including GPS-enabled dog tracking, electronic dog training and electronic bark correction. The products are offered under the Astro, Alpha, PRO, Sport PRO, BarkLimiter and Delta product lines. Garmin offers VIRB X and VIRB XE action cameras with digital image stabilization, lens distortion correction and the ability to take high quality still photographs while the video camera is recording. VIRB X and VIRB XE offer built-in wireless fidelity (Wi-Fi), data sensors and a high-sensitivity GPS receiver to add speed, elevation, G-force, heart rate, and other data onto video through its VIRB Edit application.
Garmin offers a range of products designed for use in fitness and activity tracking. Its products include Running/Multi-Sport Watches, Cycling Computers, Cycling Power Meter, Cycling Safety and Awareness, Activity Tracking Devices, and Garmin Connect and Garmin Connect Mobile. The Forerunner series offers training watches for athletes with GPS sensor that provide time, speed, distance, pace and other data. Some models also offer a heart rate monitoring function and heart-rate based calorie computation. Garmin offers a wrist-based heart rate monitoring solution Forerunner 235 with Garmin Elevate. All models allow runners to upload their data to Garmin Connect, where they can store, analyze and share their workout data. Its Virtual Racer allows runners to race against their previous best times, recovery advisor, race predictor and oxygen consumption (VO2) max estimate. The Forerunner 9x0XT series is designed specifically for triathletes. These all-in-one GPS-enabled devices provide detailed swim metrics and track distance, speed/pace, elevation and heart rate for running and cycling. The Edge series measures speed, distance, time, calories burned, climb and descent, and altitude offering an integrated personal training system designed for cyclists. In addition, Garmin offers devices geared toward performance-driven cyclists offering real-time connectivity through a smartphone, providing live tracking, social media sharing and real-time weather updates. Garmin offers Vector, which is a pedal-based power meter designed specifically for cyclists. It provides power data to ANT+ compatible devices.
Garmin offers the Varia product line focused on cycling safety and awareness. Varia bike radar alerts cyclists when vehicles are approaching from behind and Varia bike lights make the cyclist more visible when out on the road. Varia Vision is a heads up display that makes data available to the cyclist in their line of sight, so they do not need to always look down at their Edge product while they are moving. The vivofit fitness bands provide a personalized daily goal, track progress and remind users when it's time to move. The devices feature a curved display that show steps, goal countdown, calories, distance, time of day and heart rate when paired with a monitor. The vivosmart and vivosmart HR bands provide the same functions as the vivofit but also include smart notifications and a vibration alert. The vivosmart HR also incorporates Garmin Elevate. vivoactive is a smartwatch focused on the active lifestyle consumer with all the basic activity tracking features along with applications designed for running, cycling and swimming and includes connectivity to the Connect IQ application store for further customizations and capabilities. Garmin Connect and Garmin Connect Mobile are Web and mobile platforms where users can track and analyze their fitness and wellness data. In addition, users can share their accomplishments, create training groups, and get feedback and encouragement from the Connect community.
Garmin offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. Its products include Personal Navigation Devices (PND), Infotainment Solutions and Mobile Applications. PNDs combine a GPS navigator (with built-in maps) with Garmin's user interface. PNDs are sold under the nuvi, zumo, dezl, RV and fleet product lines. The zumo series offers motorcycle-specific features, the dezl series offers over-the-road trucking features while the fleet series delivers an integrated tracking and dispatch fleet system. RV series offers features specific to the recreational vehicle (RV) enthusiast. Garmin offers features, such as large screens; traffic receivers for traffic avoidance, including some models with lifetime traffic updates; bundled lifetime map updates; spoken street names; voice activated navigation; speed limit indication; lane assist with PhotoReal junction views; Bluetooth hands-free capability; DashCams/PassengerCams, and backup cameras, among others.
In addition to PNDs, Garmin has relationships with original equipment manufacturers (OEMs) providing infotainment solutions ranging from portable solutions utilizing an integrated mount within the vehicle to software navigation solutions to embedded systems offering a range of functionality. Garmin offers mobile applications under the StreetPilot and NAVIGON product names. Its applications are offered across a range of smartphones and tablets, including iPhone operating system (iOS), Android and Windows enabled devices.
Garmin's aviation product line includes GPS-enabled navigation, VHF communications transmitters/receivers, multi-function displays, electronic flight instrumentation systems (EFIS), automatic flight control systems, traffic advisory systems and traffic collision avoidance systems, terrain awareness and warning systems, instrument landing system (ILS) receivers, weather radar, surveillance products, audio panels and datalink systems. The Company offers Integrated Avionics Systems/Flight Decks; Panel-mount aviation products, such as GPS/Navigation/Communication Solutions, Traffic Solutions, Audio Solutions, Transponder Solutions, UAT-Based automatic dependent surveillance broadcast (ADS-B) Solutions and Weather Solutions; Portable and Wearable Solutions, and Mobile Application. Garmin offers a range of glass avionics from the G3X for the experimental and light-sport aircraft market to the G5000 for the business jet market, military and commercial applications. The basic capabilities integrated include navigation, communication, attitude, weather, terrain, traffic, surveillance and engine information. Its advanced features include Garmin's 3-D synthetic vision technology (SVT), weather, Garmin's electronic stability and protection system (ESP), electronic flight charts and touchscreen controls, which utilize patent pending infrared touchscreen technology, audio and visual feedback, and animation to help pilots know exactly how the system is responding to their input. Garmin also offers all-glass integrated avionics to the retrofit market through the G500, G600, G950, G1000 and G5000. These solutions provide electronic flight displays that work with separate Garmin avionics to provide essential information, such as attitude, air data, weather, terrain and traffic.
Garmin provides certified GPS navigation receivers, traditional VHF navigation receivers, instrument landing systems receivers and VHF communication transmitters/receivers. Garmin offers traffic avoidance products combining active and passive surveillance data to pinpoint specific traffic threats. These capabilities are part of its GTS series of systems. The GMA series are audio panels ranging from offerings with basic capabilities for the recreational pilot to advanced capabilities, including voice recognition, three dimensional spatial audio processing, advanced auto squelch, ambient noise based volume adjustment and independent pilot/co-pilot communications capabilities. Garmin provides a range of transponder solutions in the GTX series. Garmin offers ADS-B product within the GDL series. Weather capabilities are delivered within its GDL, GSR and GWX series. Garmin offers the aera series and GPSMAP 695/696 as portable avionics solutions. Garmin Pilot is a flight planning, flight plan filing, and pre-flight weather application for display on iOS and Android-based mobile devices.
The Company competes with TomTom N.V., MiTAC Digital Corporation, Harman International Industries, Panasonic Corporation, the Mitsubishi Group, Bushnell, DeLorme, SportDOG Brand, Suunto Oy, Google Inc., Apple Inc., Telenav Inc., Bryton Corp., Fitbit Inc., AliphCom, Polar Electro Oy, Sigma Sports, Timex Corp., Furuno Electronic Company, Johnson Outdoors, Inc., Navico, Flir Systems, Inc., Aspen Avionics, Avidyne Corporation, Chelton Flight Systems, CMC Electronics, Free Flight Systems, Genesys Aerosystems, Honeywell, Inc., Innovative Solutions and Support Inc., L-3 Avionics Systems, Rockwell Collins, Inc., Sagem SA and Universal Avionics Systems Corporation.