The latest numbers from the Aircraft Electronics Association show that total worldwide business and general aviation avionics sales topped $2 billion in the first nine months of 2022, an 18.3% jump from the same time a year ago.
The third-quarter Avionics Market Report shows that third-quarter sales increased 4.6% from the second quarter of 2022, marking the ninth consecutive quarter of increasing sales. During the third-quarter months of July, August and September, sales increased 23.2% compared to the same time frame one year ago, AEA officials report.
The 18.3% increase in sales was driven by a 39.1% increase in forward-fit sales compared to the same time a year ago, they added.
The more than $407 million in forward-fit sales marks the largest sales in that category since the report began in 2013, surpassing the previous high of more than $376 million reported in the second quarter of 2019.
Of the more than $2 billion in sales during the first nine months of 2022, 45.5% came from the retrofit market (avionics equipment installed after original production), while forward-fit sales (avionics equipment installed by airframe manufacturers during original production) amounted to 54.5% of sales.
“While year-over-year avionics sales in the retrofit market are nearly flat, the overwhelming majority of the total sales growth is taking place in the forward-fit market,” said AEA President and CEO Mike Adamson. “Avionics installed in newly manufactured aircraft were valued at more than $400 million this quarter for the first time in our report’s history, and our industry is seeing a healthy demand for brand-new general aviation aircraft.”
According to the companies that separated their total sales figures between North America (U.S. and Canada) and other international markets, 73.7% of the year-to-date sales volume occurred in North America, while 26.4% took place in other markets.
The dollar amount reported (using net sales price, not manufacturer’s suggested retail price) includes all business and general aviation aircraft electronic sales, including all component and accessories in cockpit, cabin, software upgrades, portables, certified and noncertified aircraft electronics; all hardware (tip to tail); batteries; and chargeable product upgrades from the participating manufacturers. The amount does not include repairs and overhauls, extended warranty, or subscription services.
The number of companies that participate in the AEA Avionics Market Report may change on a quarterly or annual basis. This may occur due to mergers and acquisitions during the year, along with new companies participating in the reporting process, AEA officials noted.
Companies participating in the latest report include:
- ACR Artex
- ALTO Aviation
- Anodyne Electronics Manufacturing Corp.
- Appareo
- Aspen Avionics
- BendixKing
- Blue Avionics
- Collins Aerospace
- FreeFlight Systems
- Garmin
- Genesys Aerosystems
- Gogo Business Aviation
- Honeywell Business & General Aviation
- Jupiter Avionics
- L3Harris Technologies
- Mid-Continent Instruments and Avionics
- Nighthawk Flight Systems Inc.
- PS Engineering
- Sandia Aerospace
- Shadin Avionics
- Trig Avionics
- Universal Avionics, an Elbit Systems Co.
You can learn more about the Avionics Market Report at AEA.net/MarketReport.