The Aircraft Electronics Association (AEA) reported yesterday a world-wide increase in avionics sales revenue of 15.8% for the first half of 2022.
According to the AEA's Avionics Market Report, avionics sales for the first two quarters was $US1.3 billion, which is $US200 million more than for the same period in 2021.
The increase has been driven by higher demand for systems fitted to new aircraft, the value of which has increased by 35.6% over the first half of 2021.
"It is encouraging to see sales continue to climb, up nearly 16% compared to the first six months of 2021, but we also must consider the inflationary pressures that could factor into that increase," said AEA President and CEO Mike Adamson.
"Companies participating in the market report indicated they had increased their prices nearly 6%, which is substantial, yet below the 8.5% rise in the US annual consumer price index reported in July.
"The effort to manage and maintain the flow of products by our avionics OEMs dealing with supply constraints and the ever-increasing cost to produce and recertify their products is extraordinary."
Canada and the USA make up 73.6% of all avionics sold worldwide by revenue.
The AEA also reported that the sales value of retro-fit products was down in the first half of 2022, with the $US615 million a 1.2% decrease from the $US623 million reported in 2021.
For the nine years 2013-21, avionics sales across the globe have averaged $US2.4 billion, but the industry was hit hard by a decrease of 26% in the COVID-ravaged 2020, during which sales to aircraft OEM plunged from $US1.3 billion to $US980 million.
The AEA's report is compiled from data supplied by avionics manufacturers including Aspen, Bendix King, Garmin, Collins, Honeywell, Shadin and Trig.
Information on sales revenue of Dynon products is not included, which some industry source estimate exceeds $US40 million annually.