"This honor means a lot to me, personally, but also to our dedicated luthiers, builders and engineers," says founder and sole owner Hartley Peavey. "We craft every piece of Peavey equipment—from guitars and basses to amplifiers and sound systems—for both quality and longevity, and we're pleased that players and industry pros are recognizing Peavey products for maintaining those high standards for more than forty years."

During his four decades as a music industry pioneer, Hartley has developed forward-thinking technologies for amplifier design, loudspeakers, mixers and more, and introduced the use of computer-controlled machinery in guitar manufacturing. In addition, he has remained loyal to the fair-pricing philosophy that has made pro-quality gear affordable to all musicians since 1965.

With an editorial staff of music industry veterans and builders, Vintage Guitar is a major resource for guitar enthusiasts. The magazine has published monthly since 1986 and includes articles on top players and their instruments, new and vintage gear updates, product reviews and more.

Peavey received 40% of the total votes in the Hall of Fame's "Innovators" category, significantly more than any of the other three nominees.