Fri, Aug 18, 2023
Paying the Piper
On 17 August, Piper Aircraft announced its 2023 second-quarter (Q2) delivery and revenue figures. Across all metrics, the company’s performance surpassed 2022’s second-quarter—evincing stabilization of the general aviation aircraft market. Compared to Q2 2022, Piper’s aircraft deliveries increased by nearly 14-percent; revenues increased by upwards of 19-percent.
Founded as the Taylor Brothers Aircraft Manufacturing Company in 1927 and purchased shortly thereafter by oil industry engineer William T. Piper for the princely sum of $761, the company known today as Piper Aircraft stands with Textron Aviation’s Cessna and Beechcraft subsidiaries as the Big Three of American general aviation light aircraft manufacturers.
Piper’s Q2 2023 deliveries are up by seven aircraft; revenue increased by over $9-million. The company’s strong performance was driven by a strong demand for Piper’s premier M-Class and trainer aircraft. The M-Class retail backlog reaches well into 2024, and the trainer backlog—varying by model—extends to late 2025 and 2026. Piper’s strong backlog evinces consumer trust in the company’s products, services, and demonstrable ability to consistently deliver its full line of general aviation aircraft despite ongoing global supply chain challenges.
Piper Aircraft president and CEO John Calcagno stated: “The demand of our high-performance M-Class family, featuring the turboprop M600/SLS and M500 as well as the piston powered M350, is evident in our steady growth. While new deliveries continue to be strong in Q2 2022, near-new, used model availability remains at record lows of about two-percent. At the same time, Seminole, Archer, and Pilot 100i sales increased twenty-percent versus Q2 2022. We continue to see unprecedented demand for our robust trainers that are built for the rigors of real-world training environments, meeting the demands of world-class training academies all over the world.”
In addition to marked domestic success, the Piper brand’s growth in international markets continues, with fifty-percent greater international deliveries in 2023’s second-quarter than the same time-period in 2022.
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