Paris-headquartered Thales has reported full-year 2014 pre-tax profits of €505m ($567m) for its aerospace group, up 20 per cent from the previous year.
Its aerospace division also saw a six per cent increase in sales and a 17 per cent increase in its orderbook up to €5bn ($5.6bn) from €4.3bn ($4.8bn) in 2013.
The firm said that the growth in demand for its avionics products was driven by increased production rates at commercial aircraft manufacturers and “the growth of aftermarket activities”.
It also said that 2014 has seen continued growth in sales of its in-flight entertainment equipment.
In its guidance for 2015, Thales predicts a high number of orders particularly from emerging markets.