GOGO Achieves Approval for HDX Antenna From FAA: Stock to Gain?

GOGO Inc. GOGO recently announced that it has successfully secured Parts Manufacturer Approval (“PMA”) for its Gogo Galileo HDX antenna from the Federal Aviation Administration (“FAA”). To obtain this approval, GOGO collaborated with Delta Engineering, a leading provider of engineering and manufacturing services in the aviation sector and a member of the FAA Organization Designation Authorization program.This development will be a game changer for in-flight connectivity across the business aviation industry. Operators and private owners of the smaller cabins often do not have access to high-speed connectivity options comparable to the large jets. Moreover, deploying a new connectivity setup or upgrading an existing setup can be a complex and costly endeavor. Traditional satellite connectivity setups often lack flexibility and interoperability. Operators with diverse types of aircraft find it very difficult to match the connectivity needs of different aircraft. GOGO’s advanced solution effectively addresses these limitations.The company’s HDX antenna utilizes its global Eutelsat OneWeb Low Earth Orbit satellite constellation to deliver low latency connectivity in altitude comparable to terrestrial internet connectivity. It effectively supports high-speed broadband connectivity, providing a speed of up to 60 Mbps. The solution is easy to install and compatible with a vast array of aircraft, from small to large jets, executive airliners and turboprops. This will allow operators with mixed-sized fleets and owners of the smaller cabin to easily avail in-flight connectivity.Will This Development Drive GOGO’s Share Performance?Gogo is the leading provider of in-flight connectivity and wireless entertainment solutions for the global aviation industry. It currently provides services on approximately 9,600 aircraft, which represents more than 20% of the world's total commercial and business jet aircraft. Gogo has partnerships with 14 commercial airlines and is installed on more than 2,500 commercial aircraft. Nearly 7,000 business aircraft are also flying with its solutions, including the world's largest fractional ownership fleets.The demand for high-speed in-flight connectivity is expected to rise at a substantial rate. The PMA approval will allow GOGO to move toward full-scale production of HDX and enable it to capitalize on the emerging market trends.GOGO Stock’s Price MovementShares of GOGO have lost 21.4% over the past year against the industry’s growth of 36.4%.Image Source: Zacks Investment ResearchGOGO’s Zacks Rank and Key PicksGOGO currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader industry have been discussed below.InterDigital IDCC sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.In the trailing four quarters, it delivered an earnings surprise of 158.41%. It is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company designs and develops a wide range of advanced technology solutions used in digital cellular, wireless 3G, 4G and IEEE 802-related products and networks.Celestica Inc. CLS carries a Zacks Rank #2 (Buy) at present. The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world's leading original equipment manufacturers.United States Cellular Corporation USM sports a Zacks Rank of 1 at present. In the last reported quarter, it delivered an earnings surprise of 150%.U.S. Cellular has taken concrete steps to accelerate subscriber additions and improve churn management. The company aims to offer the best wireless experience to customers by providing superior quality network and national coverage. It is well-positioned to support the investment required for network enhancements, including the deployment of 5G technology.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 United States Cellular Corporation (USM): Free Stock Analysis Report Celestica, Inc. (CLS): Free Stock Analysis Report InterDigital, Inc. (IDCC): Free Stock Analysis Report Gogo Inc. (GOGO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks