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.
- Despite the overall annual decrease, the fourth quarter of 2016 showed a sales increase, making it the strongest quarter for the second straight year.
- The market was nearly evenly split between forward-fit (50.6%) and retrofit (49.4%) applications, with the retrofit segment's percentage of total sales growing for the fourth consecutive year.
- North America (U.S. and Canada) accounted for the majority of sales, making up 66.3% of the 2016 avionics market volume.
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