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The key difference between LNAV/VNAV and LPV approaches lies in the minimum altitude requirements and the precision of the guidance provided. LPV approaches utilize the highly accurate satellite-based navigation system, which allows them to offer lower decision altitudes down to as low as 200 feet AGL (Above Ground Level). This precision results from the use of the Wide Area Augmentation System (WAAS), which enhances the accuracy of GPS signals, enabling pilots to fly approaches with greater confidence and safety at lower altitudes.

In contrast, LNAV/VNAV approaches combine lateral navigation (LNAV) for horizontal guidance and vertical navigation (VNAV) for altitude guidance, but they generally do not achieve the same precise decision altitude capabilities as LPV approaches. The guidance on LNAV/VNAV approaches is not as precise as what LPV can offer, which is evident in the higher minimums that are typically associated with LNAV/VNAV operations.

Understanding this distinction is crucial for pilots as it impacts the decision-making process during approach and landing phases, especially in terms of the opportunities and limitations presented by different types of approach procedures.