Record-Breaking General Aviation Avionics Sales Soar in Q2 2023, Says AEA Report

Record-Breaking General Aviation Avionics Sales Soar in Q2 2023, Says AEA Report

The Aircraft Electronics Association (AEA) has unveiled remarkable news for the aviation industry, revealing that the second quarter (Q2) of 2023 witnessed an unprecedented surge in general aviation avionics sales. According to the AEA's Avionics Market Report, this Q2 achieved the highest-ever quarterly sales volume in the history of the association.

The Q2 2023 report showcases a remarkable performance, indicating that avionics sales reached a staggering $823 million for the quarter. This impressive figure reflects a notable 5.9 percent growth compared to the previous quarter and an even more impressive 16.2 percent rise in comparison to the same period in 2022. The cumulative avionics sales for the first half (H1) of 2023 exceeded $1.6 billion, marking a remarkable 19.2 percent increase over H1 2022.

Commenting on this significant achievement, Mike Adamson, the President and CEO of AEA, highlighted the surge in forward-fit sales, noting that they have consistently surpassed $400 million in three out of the last four quarters. He also pointed out a more moderate growth rate of 4.5 percent in the retrofit market's year-over-year sales.

The report's findings showcase a dynamic balance between different segments of the avionics market. A notable 40.5 percent of Q2 general aviation avionics sales originated from retrofit sales, while the remaining 59.5 percent were attributed to the forward-fit market. Importantly, Q2 2023 also set a new record for the largest quarterly forward-fit sales volume, exceeding $490 million.

The Avionics Market Report, initiated in 2013 by AEA, encompasses a comprehensive range of components and accessories, including cockpit and cabin features, software upgrades, portables, certified and noncertified aircraft electronics, as well as all related hardware, batteries, and upgradable products. This report is a comprehensive reflection of the aviation industry's trends, offering valuable insights into both business and general aviation aircraft.

The soaring avionics sales in Q2 2023 underscore the resilience and growth potential of the aviation sector, setting a positive tone for the industry's future endeavors.
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