While Growing, the Avionics Market Lags Behind 2019 Sales Figures

The Aviation Electronics Association has published the industry’s results of the 1st quarter of 2022, reporting that more than 634 million dollars’ worth of business and general aviation avionics were sold throughout the world. 

Overall, the numbers portend a waxing aviation economy, showing increased demand from years and months prior. Sales increased nearly 5% from the 4th quarter of 2021, marking off the 7th consecutive quarter to increase sales. An increase of 11.6% was seen in the first 3 months of the year over the same span in 2021, bringing in $634M to an earlier $568M. 

The bulk of the money spent went towards forward-fit installations, with $354M spent by OEM installers. While improving, the market still has a way to go to reach its 2019 heights once again, still trailing by $12 million. The retrofit market lagged a bit at $280M, accounting for 44% of the overall avionics sales market. That paints a somewhat rosy picture, however, indicating that demand for used aircraft is strong, and that many older, otherwise unloved aircraft are finding fresh use in the market.

The increase in demand for quality, pre-owned aircraft has risen substantially, and the proliferation of modifications and refurbishment will likely continue as long as prospective owners see enough value in buying used. 

"This quarter's report is unique in the fact that year-over-year forward-fit sales jumped 34.6%, which coincides with increased airplane deliveries, and we simultaneously saw year-over-year retrofit sales decline 8.3%," said AEA President and CEO Mike Adamson. "Clearly, growing inflationary pressures and supply chain constraints are ongoing concerns, but to what extent they will impact sales numbers in these two markets this year is uncertain."

FMI: www.AEA.net