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Tue, Feb 21, 2023

AEA 2022 Year-End Avionics Market Report Released

A Very Good Year Indeed

Founded in 1957 to educate, communicate, and advocate for businesses that manufacture, support, and install aircraft electrical components and avionics, the Aircraft Electronics Association (AEA) represents nearly 1,300 member companies in more than forty countries.

On 20 February 2023, the AEA released its 2022 Year-End Avionics Market Report. Total worldwide business and general aviation avionics sales for the year amounted to more than $2.8-billion ($2,877,281,308.00) as reported by those companies participating in the reporting process. The aforementioned dollar amount represents a 21.5% increase in total year-end sales compared to 2021—the largest annual percentage increase in the report’s 11-year history.

All dollar amounts noted are U.S. dollars.

During 2022’s fourth-quarter, avionics sales increased 31.2% compared to 2021’s fourth quarter—likewise marking the largest quarterly year-over-year percentage increase in the report's history. What’s more, 2022’s fourth-quarter sales increased 7.2% over the year’s third quarter figures, instantiating a tenth consecutive quarter of increasing sales.

All told, 2022’s forward-fit-sales (avionics equipment installed by airframe manufacturers during original aircraft production) accounted for 51.8% of overall avionics sales and totaled $1,491,644,876.00. Retrofit sales (avionics equipment installed after original production) accounted for 48.2% of overall avionics sales and totaled $1,385,636,432.00.

Keen-eyed types or professional accountants inclined to peruse AEA’s 2022 Year-End Avionics Market Report will note the cited year-end dollar totals do not equal the exact sum of the four quarterly amounts previously reported. The variance is attributable to seasonal adjustments made to year-end numbers by (some of) the companies that participated in the report’s compilation. Furthermore, the number of companies that participate in the AEA Avionics Market Report—owing to mergers, acquisitions, and the rise of new business entities—may change on a quarterly and/or annual basis. Ergo, any comparative analysis of the quarter-to-quarter and year-end data ought take this variance into consideration.

The dollar amounts set forth in the AEA Avionics Market Report (derived of net sales price, not manufacturer's suggested retail price) include: all business and general aviation aircraft electronic sales—including the entirety of component and accessories in cockpit/cabin/software upgrades/portables/certified, and noncertified aircraft electronics; all hardware (radome to rudder); batteries; and chargeable product upgrades from the participating manufacturers. The amount does not, however, include repairs and overhauls, extended warranty, or subscription services.

Companies that separated their total North American (U.S. and Canada) sales from the remainder of international market sales reported the former accounted for 74.9% of sales volume, and the latter for 25.1%

The AEA Avionics Market Report should not be considered a predictive indicator of future industry sales activity. The circumstances by which the report’s dollar values were occasioned may not occur in the future, and actual sales, revenues, and profits could differ materially as a result of known and unknown risk factors and uncertainties affecting the avionics market, the AEA Avionics Market Report, and the companies that participate in such. Forward-looking statements—one and all—cannot be guaranteed, and pertain only to circumstances extant on the day subject statements are made. Neither the Aircraft Electronics Association, those companies that participate in the AEA Avionics Market Report, nor Aero News Network (ANN) undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

FMI: www.aea.net, www.aea.net/marketreport

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