According to the Aircraft Electronics Association (AEA) Q1 2023 Avionics Market Report, total avionics sales for the first quarter of 2023 increased by 22.6 percent compared to the same period last year, surpassing $777 million. The report highlighted a significant boost in forward-fit sales, which rose by 32.1 percent and accounted for nearly $468 million during the quarter. While the Q1 2023 numbers demonstrated growth compared to the previous year, sales decreased by 2.1 percent from the previous quarter, ending a streak of 10 consecutive quarters of increasing sales.
AEA President and CEO Mike Adamson commented, "This quarterly report offers mixed results, as the industry posted a lower dollar amount in sales when compared to the fourth quarter of last year, while at the same time reporting an increase in sales of more than 22% compared to the first three months of 2022." He further noted, "Also of note, the industry garnered the largest forward-fit sales volume in the history of the report with more than $467 million in avionics sales to OEMs."
Companies that provided separate sales figures for North America and other international markets revealed that 74.5 percent of their Q1 2023 sales volume occurred in North America. The AEA's Avionics Market Report, now in its 11th year, covers sales data for cockpit and cabin components, software upgrades, portables, certified and noncertified aircraft electronics, as well as hardware, batteries, and chargeable product upgrades from participating manufacturers in the business and general aviation sectors.