Aircraft Electronics Association released its third quarter 2022 Avionics Market Report. In total, over the first nine months of the year, worldwide business and general aviation avionics sales reached nearly $2.1 billion.
Third-quarter sales increased by 4.6% following the second quarter of 2022. This marked the ninth quarter of increasing sales. During the third quarter, in July, August and September, sales had an increase of 23.2% compared to the third quarter the year before.
Based on numbers from the first three quarters, there was an 18.3% increase in total sales in comparison with the same three quarters in 2021. Sales were driven by a 39.1% increase in forward-fit sales compared to the same time frame one year prior. Figures show over $407 million in forward-fit sales, making this the largest sales total in the 3Q category in history, surpassing the previous top score of $376 million from 2Q in 2019.
The total amount reported included all business and general aviation aircraft electronic sales, which includes all components and accessories in the plane as well as software upgrades and electronics, hardware, batteries and product upgrades.
Of the total sales, 45.5% came from the retrofit market, which pertains to avionics equipment installed after original production. Forward-fit sales, which refers to avionics equipment installed by airframe manufacturers during original production, amounted to 54.5% of sales.
Companies that separated domestic and international sales figures noted that 73.7% of the year’s sales volumes occurred in North America and 26.4% took place in other international markets.
The AEA notes that these numbers should not be a predictive measure for forecasting future sales activity as many circumstances and factors in the market will differ.
“While year-over-year avionics sales in the retrofit market are nearly flat, the overwhelming majority of the total sales growth is taking place in the forward-fit market,” AEA President and CEO Mike Adamson said. “Avionics installed in newly manufactured aircraft were valued at more than $400 million this quarter for the first time in our report’s history, and our industry is seeing a healthy demand for brand-new general aviation aircraft.”
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