Most investors think of aerospace suppliers as companies that make engines or landing gear. Astronics Corporation does something quieter and, right now, considerably more profitable: it powers the seats you sit in, lights the cabin around you, and increasingly helps manage the electricity running through the aircraft’s electrical system. That positioning has produced results that are hard to dismiss.
Astronics reported Q2 2026 revenue of $260.0 million, up 27.0% year over year. Adjusted EBITDA more than doubled to $51.5 million, with the margin expanding 740 basis points to 19.8% of consolidated sales. Those are not the numbers of a company riding a market. They are the numbers of a company taking share inside one.
Inside the aerospace segment, flight-critical electrical power grew 49.4%, while in-flight entertainment and connectivity revenue rose 19%. Both are driven by the same force: airlines modernizing cabins as travel demand stays firm and aircraft backlogs at Boeing and Airbus run well into the 2030s.
Record quarterly bookings reached $306.2 million for a book-to-bill ratio of 1.18, and the backlog hit $780.6 million, marking the third consecutive record backlog quarter. The company said it expects to recognize about $642.2 million of its outstanding performance obligations as revenue over the next twelve months. A backlog of that quality, with that conversion speed, is a revenue schedule more than a forecast.
The product driving much of the commercial aviation momentum is Astronics’ EmPower in-seat power platform. The company says its in-seat power solutions are used on more than 260 airlines worldwide and support both line-fit and retrofit applications. In April 2026, Astronics expanded the line. The company launched the EmPower 1327-27 Dual USB-Type-C In-Seat Power Outlet, delivering up to 60 watts of combined charging power across two USB-C ports. Airlines do not put gear like this on a single aircraft class. They roll it across entire fleets.
The broader market is moving in Astronics’ direction. Rising fleet-modernization budgets and continued passenger-traffic recovery underpin sector growth, with carriers prioritizing LED retrofits that can sharply reduce power draw while OEM deliveries stimulate line-fit demand as Boeing and Airbus work through backlogs. In 2026, Astronics has continued to market next-generation cabin lighting offerings centered on LED technology and configurable lighting effects. Every narrowbody delivered today needs both power and lighting systems certified from day one. Astronics sells into both line-fit and retrofit channels, which means new aircraft programs can generate revenue before the first passenger boards.
Management sees no sign of a slowdown. CEO Peter Gundermann framed the second half around volume leverage and margin improvement, and the company raised full-year 2026 revenue guidance to $1.02 billion to $1.04 billion. The company said it expects third-quarter sales of $265 million to $275 million.
The risk worth watching is execution at scale. Supply chain bottlenecks could crimp near-term installation volumes, and FAA and EASA certification cycles that can stretch multiple years can create structural delays for new products entering the market. A stumble at this pace of growth compounds quickly.
Still, the core thesis is structural, not cyclical. Airlines are not debating whether to upgrade cabins. They are competing for passengers whose first question at the gate is whether the seat has a charger. Astronics built the answer to that question, and it has a backlog proving demand is locked in well before the aircraft lands.
