GARMIN LTD (GRMN)

Garmin Ltd. and its subsidiaries design, develop, manufacture, market and distribute GPS-enabled products and other navigation, communications, sensor-based and information products and services. The company has pioneered location-technology products for people who live an active lifestyle for more than 35 years. It has delivered over 300 million products since inception, including more than 20 million during fiscal 2025. Many products use GPS and other global navigation satellite systems, along with satellite-based augmentation systems, and some offer subscription access to third-party private satellite networks for communication, weather and mapping features.

Garmin serves five primary markets: fitness, outdoor, aviation, marine, and auto OEM. The Fitness segment includes Forerunner running watches, cycling computers, power meters and Tacx indoor trainers, smartwatches (Venu, vívoactive, vívomove, Lily, vívosmart, Bounce), scales and monitors, and MYLAPS sports timing and performance analysis. The Outdoor segment includes adventure watches (fēnix, Instinct, tactix, Enduro, MARQ), inReach satellite communicators backed by the Garmin Response emergency coordination center, outdoor handhelds, Approach golf devices, consumer automotive products (personal navigation devices, dash cams, dēzl trucking, zūmo motorcycle, RV and Tread lines), field products such as dog tracking and training devices, and Descent dive computers. The Aviation segment offers integrated flight decks, electronic flight displays and instruments, GPS navigation and VHF communication products, and automatic flight control systems and safety-enhancing technologies such as Autonomí. Software and services include the Garmin Connect and Connect+ platforms, the Connect IQ developer platform, Garmin Golf, and subscription offerings such as Outdoor Maps+.

Garmin's customers include consumers worldwide in fitness, outdoor, golf, driving, diving and field pursuits. Its customers also include professional timers, event organizers, clubs and federations, professional truck drivers, and aircraft OEMs. In aviation it serves general aviation, business aviation, rotorcraft, experimental/light sport, commercial air-carrier, military and defense, electric aircraft, and Advanced Air Mobility/eVTOL markets. Avionics are sold directly to aircraft OEMs and through a worldwide dealer network for retrofit installations. Products are also installed by OEMs and sold for aftermarket applications.

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