Avionics News April 2023 - 15

AEA
2022 percentage of total sales by market
Quarter
1Q 2022
2Q 2022
3Q 2022
4Q 2022
2022 Totals
Retrofit
44.2%
47.3%
45.0%
55.6%
48.2%
Forward-fit
55.8%
52.7%
55.0%
44.4%
51.8%
U.S./Canada
72.7%
74.5%
73.8%
77.9%
74.9%
Other International
27.3%
25.5%
26.2%
22.1%
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 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. "
Below is a review of the year-end totals for the 11-year history of the AEA Avionics Market Report. Participating
companies began separating total sales into retrofit/forward-fit sales in 2013.
Yearly totals
Year
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
Retrofit
$1,385,636,432.00
$1,291,830,350.00
$1,242,782,844.00
$1,657,413,394.00
$1,556,360,964.00
$1,342,516,992.84
$1,117,656,848.00
$1,187,389,485.21
$1,228,201,491.23
$1,114,263,226.00
N/A
Forward-fit
$1,491,644,876.00
$1,075,761,854.00
$980,946,483.00
$1,348,426,111.00
$1,172,296,145.00
$984,335,543.95
$1,143,877,972.00
$1,229,049,502.21
$1,299,365,811.19
$1,315,035,458.50
N/A
Total Sales
$2,877,281,308.00
$2,367,592,204.00
$2,223,729,327.00
$3,005,839,505.00
$2,728,657,109.00
$2,326,852,536.79
$2,261,534,820.00
$2,416,438,987.42
$2,527,567,302.42
$2,429,298,684.50
$2,229,317,197.54
% Change From
Previous Year
+21.5%
+6.5%
-26.0%
+10.2%
+17.3%
+2.9%
-6.4%
-4.4%
+4.0%
+9.0%
N/A
To ensure confidentiality, the participating manufacturing companies submit their sales figures to an independent third-party
firm retained to produce the AEA Avionics Market Report. The companies currently participating in the report include: ACR
Artex; ALTO Aviation; Anodyne Electronics Manufacturing Corp.; Appareo; Aspen Avionics; BendixKing; Blue Avionics;
Collins Aerospace; FreeFlight Systems; Garmin; Genesys Aerosystems; Gogo Business Aviation; Honeywell Business &
General Aviation; Jupiter Avionics; L3Harris Technologies; Mid-Continent Instruments and Avionics; Nighthawk Flight
Systems Inc.; PS Engineering; Sandia Aerospace; Shadin Avionics; Trig Avionics; and Universal Avionics, an Elbit Systems Co.
More information about the AEA Avionics Market Report is available at aea.net/marketreport. q
avionics news * april 2023 15
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http://www.aea.net/marketreport
Avionics News April 2023

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