What is the orange arrow protruding from the boat icon on my Garmin chartplotter/sounder?

When viewing the Navigation Chart on certain Garmin chartplotters/sounders, an orange arrow will protrude from the boat when navigating. This arrow is a bearing pointer. It directs the user towards the desired destination as the crow flies. There is not a way to disable this feature.

This applies to the GPSMAP 4xx, 5xx, 6xx, 7xx, 4xxx, 5xxx, 6xxx and 7xxx series.

Please refer to the image below to see an example: