Piper reports higher results in both International and Domestic markets and across both Trainer and M-Class segments.
Piper Aircraft, Inc., today announced aircraft delivery and revenue results for Q2 2023. Across all metrics, its performance surpassed those from the same quarter in 2022 while the general aviation market continues to stabilize. Compared to aircraft deliveries and revenue in Q2 2022, deliveries increased by nearly 14% and revenue has increased by more than 19%.
Piper’s Q2 2023 deliveries are up by seven (7) aircraft, and revenue increased by over $9 million. This success is driven by a strong demand for both Piper’s M-Class and Trainer aircraft. The M-Class retail backlog reaches well into 2024, and the trainer backlog extends in to late 2025 and 2026 depending on the trainer model. This strong backlog is a testament to the trust that customers place in Piper's products and services, as well as the company's ability to consistently deliver its full line of general aviation aircraft despite a challenging supply chain environment.
“The demand of our high-performance M-Class family, featuring the turboprop M600/SLS and M500 as well as the piston powered M350, is evident in our steady growth. While new deliveries continue to be strong in Q2 2022, near new, used model availability remains at record lows of about two percent,” said John Calcagno, Piper Aircraft President & CEO. “At the same time, Seminole, Archer and Pilot 100i sales increased 20% versus Q2 2022. We continue to see unprecedented demand for our robust trainers that are built for the rigors of real-world training environments, meeting the demands of world-class training academies all over the world.”
In addition to marked domestic success, growth in international markets continues, with 50% more international deliveries in this quarter versus the same period in 2022.
One of the key contributors to Piper Aircraft's success is its diverse range of cutting-edge aircraft models, designed to meet the needs and preferences of a broad spectrum of aviation enthusiasts. From single-engine trainers to high-performance business aircraft, Piper's aircraft lineup offers versatility, reliability, and state-of-the-art technology, making it an appealing choice for a wide range of pilots.