LEE'S SUMMIT, MISSOURI, May 15, 2014 -- The Aircraft Electronics Association released its first-quarter 2014 Avionics Market Report.
In the first three months of the year, total worldwide business and general aviation avionics sales amounted to $651,748,994.12, or more than $651 million.
That amount shows an 11.2 percent increase in sales compared to the first-quarter 2013 amount of $586,006,894.49, or more than $586 million as reported a year ago by the participating companies.
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/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 $651 million in total sales in the first quarter, $330,420,718.04, or more than $330 million, came from forward-fit (avionics equipment installed by airframe manufacturers during original production) sales and comprised 50.7 percent of total sales. Retrofit (avionics equipment installed after original production) sales amounted to $321,328,276.08, or more than $321 million, comprising 49.3 percent of total sales.
In addition, the first-quarter 2014 report marked the first time participating companies were asked to separate their total sales figures between North America (U.S. and Canada) and other international markets. According to the companies that participated in this breakdown, 62.9 percent of the sales volume occurred in North America (U.S. and Canada), while 37.1 percent took place in other international markets.
"It is encouraging to see total avionics sales in the business and general aviation market grow by more than 11 percent from the same time period one year ago," said Paula Derks, AEA president. "This report is another positive economic indicator for the general aviation industry, which continues its recovery from the recession.
"The report also noted that sales were split nearly evenly between the forward-fit and retrofit markets during the first quarter. The 49.3 percent of sales in the aftermarket is up compared to the 2013 year-end report that showed the retrofit market accounting for 46 percent of total sales. And with more than 37 percent of avionics sales taking place outside the United States and Canada, it's another indicator that the business and general aviation industry has no boundaries and truly is a significant contributor to the international economy."
History and Background Information:
The AEA first introduced its Avionics Market Report March 26, 2013, during the 56th annual AEA International Convention & Trade Show in Las Vegas, Nevada.
Prior to 2012, there never had been an effort to capture the true dollar size of the business and general aviation avionics market. The concept to produce the AEA Avionics Market Report began in April 2012, when the AEA formed an ad hoc committee comprised of representatives of avionics manufacturers to create a tool for strategic planning and examining market share.
"This report provides valuable information to promote the business and general aviation avionics industry to investors and inform elected officials of its global economic value," Derks said.
To ensure confidentiality, the participating manufacturing companies submit their sales figures to an independent third-party accounting firm retained to produce the AEA Avionics Market Report. The companies currently participating in the report include:
- Accord Technology
- Alto Aviation
- Anodyne Electronics Manufacturing Corp.
- Aspen Avionics
- Cool City Avionics
- FreeFlight Systems
- Genesys Aerosystems
- Honeywell Business & General Aviation
- Jupiter Avionics
- Latitude Technologies
- L-3 Aviation Products
- Mid-Continent Instruments and Avionics
- PS Engineering
- Rockwell Collins
- Sandia Aerospace
- Shadin Avionics
- Trig Avionics
- Universal Avionics Systems Corp.
The number of companies that participate in the AEA Avionics Market Report may change on a quarterly and/or annual basis, and any comparative analysis of the data should take this into consideration. All dollar amounts noted are U.S. dollars. 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.
About the Aircraft Electronics Association
Founded in 1957, the Aircraft Electronics Association represents nearly 1,300 member companies in 43 countries, including government-certified international repair stations specializing in maintenance, repair and installation of avionics and electronic systems in general aviation aircraft. The AEA membership also includes manufacturers of avionics equipment, instrument repair facilities, instrument manufacturers, airframe manufacturers, test equipment manufacturers, major distributors, engineers and educational institutions.
For more information, contact Geoff Hill, AEA director of communications, at 816-347-8400 or firstname.lastname@example.org.