The latest figures from the Aircraft Electronics Association show that avionics sales in the second quarter of 2023 topped $823 million — the highest quarterly sales volume since the association began its Avionics Market Report 11 years ago.
Sales for the first half of 2023 topped $1.6 billion, a 19.2% increase in sales from the first six months of 2022.
Second-quarter sales increased 5.9% sequentially from the first quarter of 2023 and 16.2% from the same time a year ago, AEA officials added.
Driving the record sales was a 31.7% increase in forward-fit sales compared to the same time a year ago.
The industry reported the largest quarterly forward-fit sales volume in the history of the Avionics Market Report, with more than $490 million in avionics sales to Original Equipment Manufacturers (OEMs). It is only the third time that quarterly forward-fit sales topped $400 million, AEA officials noted.
Of the more than $1.6 billion in sales during the first six months of 2023, 40.2% 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 59.8%.
According to the companies that separated their total sales figures between North America (U.S. and Canada) and other markets, 72.9% of the sales volume in the first six months of 2023 occurred in North America, while 27.1% 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 non-certified aircraft electronics; all hardware (tip to tail); batteries; and chargeable product upgrades. The amount does not include repairs and overhauls, extended warranty, or subscription services.
For more information about the AEA Avionics Market Report: AEA.net/MarketReport.