As the Aircraft Electronics Association officially opened the doors to its annual convention today, avionics makers were mulling the results of an industry report showing that sales dipped by 6.4 percent to $2.26 billion last year.
Avionics Sales Drop for Second Year in a Row
Key Takeaways:
- Worldwide avionics sales decreased by 6.4% to $2.26 billion in 2016, marking the second consecutive year of decline for the industry.
- The market was nearly evenly split between forward-fit (50.6%) and retrofit (49.4%) applications, with retrofit's percentage of total sales increasing for the fourth straight year.
- Despite the overall annual dip, the fourth quarter of 2016 showed progress, reaching $597 million and serving as the strongest sales period for the second consecutive year.
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