Avalon 2013 boss Ian Honnery has said the results of the air show were strong, in spite of a smaller crowd turn-out than 2011.
Nearly 168,000 people attended across the full six trade and public days of the event, compared to the near-record 195,000 of the previous event.
Overall the number of participating exhibitor companies at Avalon 2013 increased along with the number of official delegations.
Honnery said although the crowd was less than they anticipated, a repeat of the exceptionally high attendance levels experienced in 2011 had not been expected.
"Due to the current contraction in the aerospace and defence industries around the world and the budgetary constraints that are affecting many defence forces, we anticipated there would some downturn in trade day attendances," he said.
"What is pleasing is the slightly higher number of participating exhibitor companies. Numbers are up from 575 in 2011 to 601 for this event, along with a slight increase in the number of delegations which went from 75 to 79."
Show organisers described the feedback from exhibitors and the public as "overwhelmingly favourable", saying the new and upgraded facilities including the Exhibitor Business Units had been well received, and the response to the flying display programme, in particular the first flying display by the F-22 Raptor, had been "highly complementary".
"Overall we are extremely pleased with the strong results for the 2013 Australian International Airshow and Aerospace & Defence Exposition," Honnery said.
"This is a 'hallmark' event for the state of Victoria which generates a significant boost for both the state and regional economies. More importantly it provides an international platform to promote aviation and aerospace industries."
Planning is already underway for Avalon 2015, which will pay aviation homage to a century of service by Australians in the defence of the nation.