The National Institute of Economic and Industry Research has released figures that show Avalon 2015 pumped over $146 million into the Victorian economy.
The figures are detailed in a report prepared in the months following last February's Australian International Airshow.
According the the report, the air show also provided the equivalent of 2000 full-year jobs and boost household incomes by $80.5 million.
The host city, Geelong, received a $22.1 million boost to its gross regional product.
Air show CEO Ian Honnery said the figures were a sign the event has a solid future.
"The pulling power of our event, both as aviation spectacular and as a world class trade show, remains extremely strong," he said. "The fact that we continue to attract people from the four corners of the globe reflects our prestige and international standing."
Of the 169,251 visitors during the six day event, more than 38,000 were from interstate and more than 13,000 from overseas.
Honnery said the air show and exposition are key drivers for business development and economic growth in the aerospace and defence sector.
"By any standards we play an important and unique role supporting Australian industry and promoting local know-how to the international marketplace," he said.
"As a not-for-profit organisation our mission is to provide a conduit between Australian technology innovators and service providers and the key international industry decision makers."
In 2013, the Victorian Government signed an agreement that will keep the Australian International Airshow at Avalon until 2025.