AEA unveils 2020 year-end Avionics Market Report

Total sales exceed $2.2 billion for the year

LEE'S SUMMIT, MISSOURI, Feb. 9, 2021 -- The Aircraft Electronics Association released its 2020 year-end Avionics Market Report, and total worldwide business and general aviation avionics sales for the year amounted to $2,223,729,327, or more than $2.2 billion as reported by the participating companies.

The dollar amount represented a 26% decrease in total year-end sales compared to 2019, which set a record-high total that topped $3 billion. It also marked the lowest amount of sales in the report's nine-year history. During the fourth-quarter months of October, November and December, sales decreased 28.1% compared to the same time frame one year ago.

However, since COVID-19 began to negatively impact industry-wide sales near the end of the first quarter of 2020, the industry experienced healthy sales growth during the last six months of the year. For example, after total sales bottomed out in the second quarter of 2020, third-quarter sales increased 5.9% with retrofit sales up 10.8% compared to the second quarter. That upward trend continued with fourth-quarter sales increasing another 8.5% with retrofit sales up 15.3% compared to the third quarter.

2020 year-end worldwide business and general aviation avionics sales

Quarter
Retrofit
Forward-fit
Total Sales
1Q 2020 - press release $345,650,537.69 $314,778,010.72 $660,428,548.41
2Q 2020 - press release $267,757,102.73 $222,952,080.59 $490,709,183.32
3Q 2020 - press release $296,692,116.00 $222,975,009.00 $519,667,125.00
4Q 2020 - press release $342,013,080.00 $221,679,584.00 $563,692,664.00
2020 Totals* $1,242,782,844.00 $980,946,483.00 $2,223,729,327.00

*-Note that the 2020 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. All dollar amounts noted are U.S. dollars.

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 $2.2 billion in sales in 2020, 55.9% 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 44.1% of sales.

According to the companies that separated their total sales figures between North America (U.S. and Canada) and other international markets, 73.8% of the 2020 sales volume occurred in North America (U.S. and Canada), while 26.2% took place in other international markets.

2020 Percentage of Total Sales by Market

Quarter Retrofit Forward-fit
1Q 2020 52.3% 47.7%
2Q 2020 54.6% 45.4%
3Q 2020 57.1% 42.9%
4Q 2020 60.7% 39.3%
2020 Totals 55.9% 44.1%

2020 Percentage of Total Sales Worldwide

Quarter U.S./Canada Other International
1Q 2020 75.2% 24.8%
2Q 2020 73.9% 26.1%
3Q 2020 71.6% 28.4%
4Q 2020 74.3% 25.7%
2020 Totals 73.8% 26.2%

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.

"The last half of 2020 provided a softer landing as yearly sales totals slid back to roughly the same numbers in 2016-17," said AEA President and CEO Mike Adamson. "Despite the health crisis and its economic impact, I am encouraged that industry experienced steady growth during the last half of the year. Although 2020 year-end sales are significantly down from last year's all-time high, we see positive signs in the retrofit market, which means our members are keeping busy with avionics upgrades. We are hopeful the combination of innovative new products, the resilience of consumers who continue to focus on upgrades, and an uptick in aircraft production can fuel more sales growth in 2021."

Below is a review of the year-end totals for the nine-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
2020 $1,242,782,844.00 $980,946,483.00 $2,223,729,327.00 -26.0%
2019 $1,657,413,394.00 $1,348,426,111.00 $3,005,839,505.00 +10.2%
2018 $1,556,360,964.00 $1,172,296,145.00 $2,728,657,109.00 +17.3%
2017 $1,342,516,992.84 $984,335,543.95 $2,326,852,536.79 +2.9%
2016 $1,117,656,848.00 $1,143,877,972.00 $2,261,534,820.00 -6.4%
2015 $1,187,389,485.21 $1,229,049,502.21 $2,416,438,987.42 -4.4%
2014 $1,228,201,491.23 $1,299,365,811.19 $2,527,567,302.42 +4.0%
2013 $1,114,263,226.00 $1,315,035,458.50 $2,429,298,684.50 +9.0%
2012 N/A N/A $2,229,317,197.54 N/A

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.

Avionics Market Report LogoTo 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
  • Collins Aerospace
  • FreeFlight Systems
  • Garmin
  • Genesys Aerosystems
  • Gogo Business Aviation
  • Honeywell Business & General Aviation
  • Jupiter Avionics
  • L3Harris Technologies
  • Mid-Continent Instruments and Avionics
  • PS Engineering Inc.
  • Sandia Aerospace
  • Shadin Avionics
  • Trig Avionics Limited
  • Universal Avionics, an Elbit Systems Co. 

 

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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.

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