Sales of avionics during the first quarter (Q1) of 2023 rose 22.6% to $777.6 million compared to the same period a year ago, according to the Aircraft Electronics Association (AEA).
Sales, however, declined 2.1% from the fourth quarter of 2022, breaking a 10-consecutive-quarter run of increased sales, AEA reports.
Retrofit sales, or sales of equipment installed after original production, during 2023 Q1 totaled $309.9 million, up 10.5% from $280.37 million a year ago. Meanwhile, forward-fit sales, sales of avionics equipment installed by manufacturers during original production, totaled $467.7 million, up 32.1% from $354.2 million a year ago.
North America remains the largest market with 74.5% of Q1 sales, while 25.5% took place in other international markets.
“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,” says Mike Adamson, AEA president and CEO. “Also of note, the industry garnered the largest forward-fit volume in history .... It is only the second time that quarterly sales have topped $400 million in this category.”