The Aircraft Electronics Association (AEA) has found that avionics sales topped $2.4 billion over the first nine months of the year.
In its recently released Avionics Market Report, the organization also noted that third-quarter sales increased 9.9 percent compared to the same time period last year. While avionics sales increased year over year, Q3 numbers dropped 1.1 percent compared to the previous quarter, which set a record for the highest quarterly sales volume in the history of the report. Even with the slight dip, AEA says the $814 million sold in Q3 2023 marks the second-highest quarterly sales volume in the report’s history after Q2.
Overall, avionics sales for the first nine months of 2023 rose 15.9 percent over the same time period in 2022. Also, 40.7 percent of the $2.4 billion in year-to-date sales came from the retrofit market, while forward-fit sales made up 59.3 percent of the total, representing a 26.2 percent increase compared to last year. For Q3, the forward-fit market brought in more than $474 million, making it only the fourth quarter in the history of the report to top $400 million.
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“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,” said AEA president and CEO Mike Adamson. “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.”
AEA’s Avionics Market Report was first published in 2013. It covers all components and accessories in cockpit, cabin, software upgrades, portables, certified and noncertified aircraft electronics for business and general aviation aircraft, as well as all hardware, batteries, and chargeable product upgrades from participating manufacturers.