AEA unveils 2022 year-end Avionics Market Report

The Aircraft Electronics Association released its 2022 year-end Avionics Market Report, and total worldwide business and general aviation avionics sales for the year amounted to$2,877,281,308, or more than $2.8 billionas reported by the participating companies. The dollar amount represented a 21.5% increase in total year-end sales compared to 2021, which is the largest annual percentage increase in the 11-year history of the report.

During the fourth-quarter months of October, November and December, sales increased 31.2% compared to the same time frame one year ago, marking the largest quarterly year-over-year percentage increase in the report's history. Fourth-quarter sales increased 7.2% sequentially from the third quarter of 2022 and marked the 10th consecutive quarter of increasing sales.

2022 Year-End Worldwide Business & General Aviation Avionics Sales

Quarter

Retrofit

Forward-fit

Total Sales

1Q 2022

$280,369,625.35

$354,176,395.08

$634,546,020.43

2Q 2022

$335,320,680.00

$373,375,861.00

$708,696,541.00

3Q 2022

$333,335,061.00

$407,917,222.00

$741,252,283.00

4Q 2022

$441,756,889.00

$352,725,645.00

$794,482,534.00

2022 Totals*

$1,385,636,432.00

$1,491,644,876.00

$2,877,281,308.00

*-Note that the 2022 year-end totals do not exactly equal the sum of the four quarterly amounts as reported earlier in the year. This variance is the result of seasonally adjusted year-end numbers by some of the participants. In addition, the number of companies that participate in the AEA Avionics Market Report may change on a quarterly and/or annual basis. This may occur due to mergers and acquisitions during the year along with new companies participating in the reporting process. Any comparative analysis of the data should take this variance into consideration. All dollar amounts noted are U.S. dollars.

The dollar amount reported (using net sales price, not manufacturer's suggested retail price) includes: all business and general aviation aircraft electronic sales – including all component and accessories in cockpit/cabin/software upgrades/portables/certified and noncertified aircraft electronics; all hardware (tip to tail); batteries; and chargeable product upgrades from the participating manufacturers. The amount does not include repairs and overhauls, extended warranty or subscription services.

Of the more than $2.8 billion in sales in 2022, 48.2% came from the retrofit market (avionics equipment installed after original production), while forward-fit sales (avionics equipment installed by airframe manufacturers during original production) amounted to 51.8% of sales.

According to the companies that separated their total sales figures between North America (U.S. and Canada) and other international markets, 74.9% of the 2022 sales volume occurred in North America (U.S. and Canada), while 25.1% took place in other international markets.

2022 percentage of total sales by market

Quarter

Retrofit

Forward-fit

1Q 2022

44.2%

55.8%

2Q 2022

47.3%

52.7%

3Q 2022

45.0%

55.0%

4Q 2022

55.6%

44.4%

2022 Totals

48.2%

51.8%

2022 percentage of total sales worldwide

Quarter

U.S./Canada

Other International

1Q 2022

72.7%

27.3%

2Q 2022

74.5%

25.5%

3Q 2022

73.8%

26.2%

4Q 2022

77.9%

22.1%

2022 Totals

74.9%

25.1%

The AEA Avionics Market Report should not be considered a predictive indicator of future industry sales activity. The circumstances discussed in the report may not occur in future time periods, and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting the AEA Avionics Market Report and the companies that participate in the report. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made, and the Aircraft Electronics Association, along with the participating companies in the AEA Avionics Market Report, undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

"We have seen yearly sales rebound the last two years despite supply chain constraints and a tight labor market," said AEA President and CEO Mike Adamson. "While it's encouraging to see a record-breaking percentage increase in year-over-year avionics sales, the industry is still rebounding from the economic impact of the pandemic. The $2.8 billion in sales for 2022 falls short short of the 2019 year-end sales when industry notched a record $3 billion just prior to the international health crisis, but we are trending in the right direction with positive gains over the past 10 quarters."