The AEA's (Aircraft Electronics Association) Q3 2023 Avionics Market Report highlights significant growth in avionics sales, and especially forward-fit sales.
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During the first nine months of this year, worldwide business and general aviation avionics sales reached more than $2.4 billion, according to the Aircraft Electronics Association's (AEA) third-quarter Avionics Market Report. This figure represents a 15.9 percent increase in sales compared with the same period in 2022, bolstered significantly by a 26.2 percent rise in forward-fit sales.
Avionics sales for the third quarter amounted to more than $814 million, up 9.9 percent from the same period a year ago. These sales compare with $777.6 million in the first quarter and $824 million in the second quarter.
Dollar figures include sales of all business and general aviation aircraft electronics, reflecting net sale prices and excludes costs associated with repairs, overhauls, extended warranty, or subscription services.
According to the AEA report, 40.7 percent of these sales were from the retrofit market (installations after the original production of aircraft), with forward-fit sales accounting for 59.3 percent, indicating significant demand in the manufacturing sector. The U.S. and Canada claimed the majority of sales at 73.3 percent, while the remaining 26.7 percent was spread across the rest of the world.
AEA president and CEO Mike Adamson provided insights into the market dynamics, noting that "the industry continues to produce robust forward-fit sales." He acknowledged a modest 3.6 percent year-over-year growth in the retrofit market.
“Even with persistent challenges in the supply chain, avionics manufacturers have done an extraordinary job managing issues and report improvement in product lead times compared to last year,” Adamson added. “While it's encouraging that more products are able to get to market, we still face capacity issues due to workforce needs. Our members report their backlogs continue to increase as their need for technicians grows."
Forward-fit Avionics Sales Skyrocket in Third Quarter
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During the first nine months of this year, worldwide business and general aviation avionics sales reached more than $2.4 billion, according to the Aircraft Electronics Association's (AEA) third-quarter Avionics Market Report. This figure represents a 15.9 percent increase in sales compared with the same period in 2022, bolstered significantly by a 26.2 percent rise in forward-fit sales.
Avionics sales for the third quarter amounted to more than $814 million, up 9.9 percent from the same period a year ago. These sales compare with $777.6 million in the first quarter and $824 million in the second quarter.
Dollar figures include sales of all business and general aviation aircraft electronics, reflecting net sale prices and excludes costs associated with repairs, overhauls, extended warranty, or subscription services.
According to the AEA report, 40.7 percent of these sales were from the retrofit market, while forward-fit sales accounted for 59.3 percent, indicating significant demand in the manufacturing sector. The U.S. and Canada claimed the majority of sales at 73.3 percent.
AEA president and CEO Mike Adamson provided insights into the market dynamics, noting that "the industry continues to produce robust forward-fit sales." He acknowledged a modest 3.6 percent year-over-year growth in the retrofit market.