NavStar receives $4.5 million order to provide monitoring services for PowerSports market segment



NavStar Technologies, a provider of
products and services for tracking/monitoring and reporting on the location and
condition of high value cargo and other assets, has received a purchase order
for 23,000 units to be sold into the US PowerSports market segment in 2012.


PowerSport Business Industry reports that
2.6 million motorcycles, 1.1 million scooters and 2.4 million All-terrain
Vehicles (ATV) have been sold in the US in the past 5 years.


With an installed base of 6.1M PowerSports
vehicles the addressable market is 2.49 million units. Most insurance companies
are offering a 30 percent reduction in premiums when owners have tracking
devices on their PowerSports vehicles.


The revenue opportunity in 2012 for NavStar
in this market segment is between $6 million to $8 million. Capturing 3-4
percent of this market segment is more than realistic in 2012. This purchase
order for 23,000 units gets the company well on its way toward capturing the 3
percent penetration.


The NavStar PowerSports device is
environmentally protected, easily hidden, provides motion, theft and speeding
alerts via cell phone or email.


“More than 75,000 motorcycles are
stolen in the US every year, that’s one bike every 7.5 minutes. Our goal by
focusing on this market segment is to provide affordable products and services
to address these trends,” said N. Douglas Pritt, chairman & CEO,
NavStar Technologies.



By Team
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