LEE'S SUMMIT, MISSOURI, Aug. 2, 2017 -- The Aircraft Electronics Association released its second-quarter 2017 Avionics Market Report.
In the first six months of the year, total worldwide business and general aviation avionics sales amounted to $1,144,973,499.06, or more than $1.14 billion as reported by the participating companies.
The figure represented a 2.7 percent increase in year-over-year sales compared to the first six months of 2016 amount of $1,115,259,960.19.
Sales during the second-quarter months of April, May and June in 2017 were $578,793,718.45, a 5.4 percent increase compared to the 2016 second-quarter sales of $549,161,254.23.
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 $1.14 billion in sales during the first six months of 2017, 56.2 percent 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 43.8 percent of sales.
"It's encouraging to see a positive increase in year-over-year sales for two straight quarters, something we haven't experienced since 2014," said AEA President Paula Derks. "The retrofit market has seen the biggest growth in sales with a 26.3 percent increase compared to a year ago, which has helped offset a decline of 17.3 percent in forward-fit sales from this time in 2016."
Below is a review of the year-end totals for the five-year history of the AEA Avionics Market Report. Participating companies began separating total sales into retrofit/forward-fit sales in 2013.
More information about the AEA Avionics Market Report is available online at www.aea.net/marketreport.
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 when the report was first introduced.
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
FreeFlight Systems
Garmin
Genesys Aerosystems
Gogo Business Aviation
Honeywell Business & General Aviation
Jupiter Avionics
Latitude Technologies
L3 Aviation Products
Mid-Continent Instruments and Avionics
PS Engineering
Rockwell Collins
Sandia Aerospace
Shadin Avionics
Trig Avionics
uAvionix
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. 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 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.
Founded in 1957, the Aircraft Electronics Association represents nearly 1,300 member companies in more than 40 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.
