Canada Markets closed
  • S&P/TSX

    20,714.48
    +13.98 (+0.07%)
     
  • S&P 500

    4,070.56
    +10.13 (+0.25%)
     
  • DOW

    33,978.08
    +28.67 (+0.08%)
     
  • CAD/USD

    0.7514
    +0.0007 (+0.0977%)
     
  • CRUDE OIL

    79.38
    -1.63 (-2.01%)
     
  • BTC-CAD

    31,495.01
    +621.98 (+2.01%)
     
  • CMC Crypto 200

    526.66
    +9.65 (+1.87%)
     
  • GOLD FUTURES

    1,943.90
    -2.80 (-0.14%)
     
  • RUSSELL 2000

    1,911.46
    +8.39 (+0.44%)
     
  • 10-Yr Bond

    3.5180
    +0.0250 (+0.72%)
     
  • NASDAQ

    11,621.71
    +109.30 (+0.95%)
     
  • VOLATILITY

    18.51
    -0.22 (-1.17%)
     
  • FTSE

    7,765.15
    +4.04 (+0.05%)
     
  • NIKKEI 225

    27,382.56
    +19.81 (+0.07%)
     
  • CAD/EUR

    0.6910
    +0.0019 (+0.28%)
     

Archer Enters Into Agreement for Garmin to Supply Key Avionic Systems for Archer’s Production Aircraft, Midnight™

  • This relationship represents yet another foundational supplier for Archer.

  • Sourcing avionic systems from Garmin further advances Archer’s strategy of establishing strategic relationships for the supply of components that are already being used on certified aircraft today, reducing Archer’s certification risk, as well as its development timelines and costs.

SANTA CLARA, Calif., November 15, 2022--(BUSINESS WIRE)--Archer Aviation Inc. (NYSE: ACHR), a leader in electric vertical takeoff and landing (eVTOL) aircraft, and Garmin (NYSE: GRMN), a leading provider of aviation technologies and solutions, today announced they have entered into an agreement for Garmin to supply the G3000® integrated flight deck for Midnight.

The Garmin G3000 integrated flight deck offers an ideal solution for the Midnight cockpit. The compact and lightweight system offers both an extensive certification pedigree and the configurability needed for Archer to bring its aircraft to market. The large format displays and intuitive controls will provide pilots with the situational awareness needed to operate Midnight. The extensive reach of Garmin avionics will make the Midnight aircraft familiar to a large swath of pilots.

Part of Archer’s commercialization strategy is to focus its in-house development on only the key enabling technologies that cannot be sourced from the existing aerospace supply base. The Garmin relationship further advances Archer’s approach of establishing strategic relationships for supply of components already being used on certified aircraft today. Archer now has more than 64% of our suppliers for Midnight’s bill-of-materials selected.

"By aligning Archer’s product sourcing needs with the experience and capabilities of well-established leaders in the aviation industry, we can help reduce our certification risk, as well as development timelines and costs," said Adam Goldstein, Archer’s CEO. "We’re excited to be adding Garmin to our growing base of world-class suppliers as we pave the way towards commercialization."

"We are proud of this strategic relationship with Archer Aviation to provide the advanced Garmin G3000 integrated flight deck for their new Midnight aircraft," said Phil Straub, Garmin Executive Vice President and Managing Director, Aviation. "It is an honor to be selected and trusted by Archer and we are confident the G3000 will help them to provide advanced and efficient air taxi services for years to come."

Garmin maintains an exceptional reputation for delivering high-quality avionic technologies to general aviation, business aviation, rotorcraft, advanced air mobility, government and defense, and commercial air carrier customers. Their extensive experience in the aviation space and demonstrated ability to reliably source flight deck avionic systems was a significant factor in Archer’s decision to enter into this relationship.

About Archer

Archer is designing and developing electric vertical takeoff and landing aircraft for use in urban air mobility networks. Archer’s mission is to unlock the skies, freeing everyone to reimagine how they move and spend time. Archer's team is based in Santa Clara, CA. To learn more, visit www.archer.com.

About Garmin International, Inc.

Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin and G3000 are registered trademarks.

Forward Looking Statements

This press release contains forward looking statements regarding Archer’s future business plans and expectations, including statements regarding our Midnight aircraft, as well as our commercialization and certification timelines. These forward looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2021 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2022, and other documents filed by us from time to time with the SEC, available on the SEC website at www.sec.gov. In addition, please note that any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. We undertake no obligation to update these statements as a result of new information or future events.

Source: Archer
Text: ArcherIR

View source version on businesswire.com: https://www.businesswire.com/news/home/20221115006531/en/

Contacts

Archer
Samuel Swanson
sswanson@archer.com

Garmin International, Inc.
Mikayla Minnick
media.relations@garmin.com

For Investors investors@archer.com