General aviation and bizjet avionics sales exceed $2.4 billion, AEA 2015 Avionics Market Report reveals

LEE'S SUMMIT, Mo., 25 Feb. 2016. Total worldwide business and general aviation avionics sales for 2015 totaled more than $2.4 billion ($2,416,438,987.42, to be exact), according to the Aircraft Electronics Association (AEA) 2015 year-end Avionics Market Report.

General aviation and bizjet avionics sales exceed $2.4 billion, AEA 2015 Avionics Market Report reveals
General aviation and bizjet avionics sales exceed $2.4 billion, AEA 2015 Avionics Market Report reveals
LEE'S SUMMIT, Mo., 25 Feb. 2016. Total worldwide business and general aviationavionics sales for 2015 totaled more than $2.4 billion ($2,416,438,987.42, to be exact), according to the Aircraft Electronics Association (AEA) 2015 year-end Avionics Market Report.

The figure represented a 4.4 percent decrease in sales compared to the previous year as reported by the participating companies in 2014.

Of the more than $2.4 billion in sales in 2015, 50.9 percent or more than $1.2 billion came from forward-fit sales. The forward-fit market -- avionics equipment installed by airframe manufacturers during original production -- accounted for 51.4 percent of total sales in 2014 and 54.1 percent of total sales in 2013.

By contrast, the retrofit market -- avionics equipment installed after original production -- showed an increase in its percentage of total sales for the third straight year. Retrofit sales amounted to 49.1 percent of sales in 2015, while the retrofit market accounted for 48.6 percent of total sales in 2014 and 45.9 percent of total sales in 2013.

According to the companies that separated their total sales figures between North America (U.S. and Canada) and other international markets, 64.2 percent of the 2015 sales volume occurred in North America (U.S. and Canada), while 35.8 percent took place in other international markets.

2015 Year-end Worldwide Business & General Aviation Avionics Sales

Quarter

Retrofit

Forward-fit

Total Sales

1Q 2015

$277,272,571.02

$309,827,641.90

$587,100,212.92

2Q 2015

$291,223,422.00

$314,296,259.40

$605,519,681.40

3Q 2015

$294,351,534.77

$287,459,164.23

$581,810,699.00

4Q 2015

$324,125,430.08

$328,930.795.75

$653,056,225.83

2015 Totals*

$1,187,389,485.21

$1,229,049,502.21

$2,416,438,987.42

2015 percentage of total sales by market

Quarter

Retrofit

Forward-fit

U.S./Canada

Other International

1Q 2015

47.2%

52.8%

65.5%

34.5%

2Q 2015

48.1%

51.9%

63.5%

36.5%

3Q 2015

50.6%

49.4%

63.9%

36.1%

4Q 2015

49.6%

50.4%

64.1%

35.9%

2015 Totals

49.1%

50.9%

64.2%

35.8%

"The report showed some softness in sales during the first nine months of 2015, as sales were down 7.5 percent compared to the first nine months of 2014," says AEA President Paula Derks. "However, that trend reversed itself during the fourth quarter, as sales topped $653 million, a 7.2 increase from the $609 million in sales during the last three months of 2014. Despite the positive surge late in the year, our industry reported a 4.4 percent decline in year-over-year sales from 2014. Another interesting note is the fact that total sales are now nearly evenly split between the retrofit and forward-fit markets."

Below is a review of the year-end totals for the four-year history of the AEA Avionics Market Report. Participating companies began separating total sales into retrofit/forward-fit sales in 2013.

Yearly Totals


Year


Retrofit


Forward-fit


Total Sales

% Change From
Previous Year

2012

N/A

N/A

$2,229,317,197.54

N/A

2013

$1,114,263,226.00

$1,315,035,458.50

$2,429,298,684.50

+9.0%

2014

$1,228,201,491.23

$1,299,365,811.19

$2,527,567,302.42

+4.0%

2015

$1,187,389,485.21

$1,229,049,502.21

$2,416,438,987.42

-4.4%

* The 2015 year-end totals do not exactly equal the sum of the four quarterly amounts as reported earlier in the year. This variance is the result of seasonally adjusted year-end numbers by some of the participants.

In addition, 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.

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.

More information about the AEA Avionics Market Report is available online atwww.aea.net/marketreport.

The AEA first introduced its Avionics Market Report March 26, 2013, during the 56th annual AEA International Convention & Trade Show in Las Vegas, Nevada. 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.

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:

Alto Aviation

Anodyne Electronics Manufacturing Corp.

Appareo Systems

Aspen Avionics

BendixKing

Cool City Avionics

FreeFlight Systems

Garmin

Genesys Aerosystems

Gogo Business Aviation

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.

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 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.


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