Top 10 Boeing Competitors In 2022
Boeing is an American company created in 1916 that is dedicated to the manufacture, development and commercialization of airplanes for commercial use. It has also been focused on the production of space systems, defense, military airplanes, helicopters, weapons and missiles, along with the provision of services and information for these industries. In 2018, it reached revenues by $ 101.1 billion from all of its business units, that include commercial aircraft, defense, space and security, global services, all under the Boeing Capital Corporation business.
In its more than 100 years of history, it has established itself as the leading aerospace company, responsible for the creation of the world’s most famous aircraft model, the jet, whose engine would become standard in the 1950s. The Boeing Company is the largest export company in the United States and provides services in more than 150 countries. Based in Chicago, Illinois, it has 153,000 employees both there and in its offices located in 65 countries.
Its huge research and development area has almost 2,000 expert technicians in more than 40 disciplines. The company follows a rigorous and disciplined process that begins in manufacturing, continues in the delivery of the aircraft and its maintenance throughout its useful life.
|NAME||The Boeing Company|
|STATUS||Public Independent Company of NYSE|
|INDUSTRY SECTOR||Aerospace and Defense|
|TRADING SYMBOL||NASDAQ: BSBA|
Boeing similar companies:
Airbus, KEYW Corporation, Lockheed Martin, United Technologies, GE, Aviation, Northrop Grumman, Safran, Rolls Royce, BAE Systems, General Dynamics and SpaceX.
HOW BOEING MAKES ITS MONEY
Boeing’s main industry is the manufacture of commercial aircraft, where it is the leading company in the world. Today, it markets models 737, 747, 767, 777 in addition to 787 families of airplanes and the Boeing Business Jet range. The company has more than 10,000 commercial commercial jetliners worldwide.
Defense, Space & Security
Another of its business units is the design, production and provision of service and support for the military, satellite, human space exploration and autonomous systems industry. Its product portfolio includes the KC-46 aerial refueling aircraft, based on the Boeing 767 commercial airplane; AH-64 Apache helicopter; the 702 satellite family, CST-100 Starliner spacecraft and the autonomous Echo Voyager.
Boeing Global Services
The after-sales service for fleets around the world is also part of its offer, with comprehensive and innovative solutions for commercial, defense and space clients, regardless of who is the original manufacturer of the equipment. Its strength is the experience in engineering, digital analytics, supply chain and training for both the government area and commercial services.
Boeing Capital Corporation
Under the Boeing Capital Corporation (BCC) brand, its operates a global solutions financing service for its customers. In a joint work with Commercial Airplanes and Defense, Space & Security, it allows them to buy and receive their purchased products. At the end of 2016, its portfolio was worth $ 4.1 billion.
Airbus is the French company created in 1970 that is dedicated to the design, manufacture and distribution of aerospace products, services and solutions for customers around the world, operating commercial aircraft, helicopters, defense vehicles and space. With $ 70 billion of revenues in 2018, it is Boeing’s main competitor. Both companies make up the so-called duopoly that dominates the production of aircraft worldwide.
Its product line includes passenger airplanes to private jets, with models ranging from 100-seat jetliners, to double-deck A380s, with the capacity to transport more than 850 passengers. With 370 trademarks, Airbus is one of the ten largest patent holders in the world. Every year it invests about $ 1.1 billion in research and development and has 133,671 employees in its offices located on all continents.
Lockheed Martin is an American aerospace and security company born in 1995 after the merger of Lockheed Corporation and Martin Marietta. It operates globally and has the US Defense Department and the federal agencies as its main clients. Although it works in different areas, aeronautics is its main business with annual sales of $ 21.2 billion in 2018, which includes tactical aircraft, airlift and aeronautical research.
Its most famous passenger transport aircraft are the Lockheed Vega and the Lockheed Electra. Other areas are missiles and fire control, rotary and mission systems and space.
The company has 105,000 employees and in 2018 obtained revenues of $ 53,762 billion. It operates more than 375 facilities and has 16,000 suppliers both locally and in 50 countries outside the US. One of its main axes is research and development; more than 54,000 engineers, scientists and IT professionals work in all its facilities.
United Technologies was founded in United States in 1934 under the name United Aircraft Corporation, and adopted its current name in 1975. The company operates in the commercial aeronautics industries, under its Collins Aerospace and Pratt & Whitney brands, also operating in the defense areas and in the provision of construction products, such as elevators and air conditioning units. Among its four business units, it totals 200,000 employees.
Together, its two commercial brands reach annual sales for $ 36 billion. Pratt & Whitney is responsible for the manufacture and design of engines, which are installed in 13,000 commercial aircraft around the world, while its military engines are in service in 34 armed forces. For its part, Collins provides advanced systems and components with operation in 30 countries, and annually invests $ 3 billion in research and development. Its products gave critical assistance for the Apollo 11 moon landing.
In 2019, United Technologies announced its merger with Raytheon, the aerospace and defense company headquartered in Waltham, Massachusetts, with presence in 80 countries, that delivers solutions for national defense.
GE Aviation is GE’s operating unit that sells jet and turboprop engines, components and integrated systems for commercial, military and business aviation, with a global service network that supports all this structure. Its annual revenues were almost $ 30 billion in 2018, being responsible for 25% of the group’s revenues.
The aviation business employs 40,000 people and its facilities are dedicated to the manufacturing, overhaul and it has repairing facilities worldwide. Currently, there are more than 25,000 jet engines from GE and its partner companies in airline services; for example, it is the main supplier of Qatar Airways jet engines. GE Aviation invests $ 1 billion annually in research and development programs.
Northrop Grumman is the American company founded in 1994 by Jack Northrop and Leroy Grumman. The group integrates more than 20 companies dedicated to the manufacture, sale and distribution of products and services for the aeronautics and defense industry worldwide, which is present in 25 countries and maintains a network of 550 facilities worldwide, with a total of 85,000 employees.
The main client of the group is the US government, especially the areas of defense and intelligence; more recently, it closed an agreement with the Australian Defense Force. The group has supplied navigation systems for NASA’s Mars Rovers. It also provides solutions for commercial customers around the world. In 2018, its sales reached $ 30.095 billion.
Safran started in France in 2005 after the merger of the Snecma group, a manufacturer of aerospace components, and the security company Sagem. Today, it sums up to 91,000 employees and reaches sales of more than $ 23 billion in 2018. The company works in the commercialization of aircraft propulsion and equipment for the space and defense industries. In 2018, it acquired Zodiac Aerospace, which allowed it to grow in the sale of equipment.
The group has a global presence; in partnership with GE, it delivers single-aisle commercial jet engines and seats for commercial aircraft. In addition, it is a manufacturer of helicopter turbine engines. Each year, Safran invests about $ 1,6 billion in research and development, according to industry requirements.
Created in London in 1984 by Henry Royce as an electric company, Rolls Royce fabricated its first vehicle in 1904 after joining Charles Rolls. In 1915, launched its first aircraft engine, the Rolls-Royce Eagle, designed for non-stop transatlantic flights. However, it was not a jet engine, since they appeared after World War II.
Currently, the company’s aviation engines are operational in 35 types of aircrafts, including some of the largest, and it has 13,000 engines in service around the world. Its most famous engine, the Trent, is operational in the Airbus A330, A340, A350, and A380, as well as in the Boeing 777 and the 787 Dreamliner. It serves 150 customers in 100 countries.
In addition to aviation, Rolls Royce serves the defense industry, being the second largest provider of air engines for military purposes globally, as well as one of the main operators of maritime systems for the naval sector. With more than 50,000 employees, the group generated revenues of $ 20.6 billion in 2018.
BAE Systems is an aeronautical manufacturer and supplier for the military industry, which emerged in the United Kingdom in 1999 after the merger of British Aerospace (BAe) and Marconi Electronic Systems (MES). It has 85,800 employees in more than 40 countries and in 2018 it achieved revenues of $ 22 billion and after its sales reached $ 24 billion.
The group has a consolidated position in the sale of defense equipment, electronic products and cybersecurity and intelligence services for the government sector. Its main markets are USA, UK, Saudi Arabia and Australia, which it serves with a diverse portfolio of products and services. His strong focus on innovation led him to invest $ 1.5 billion in research and development.
General Dynamics is the company dedicated to the aerospace and defense industries, which was founded in 1952 in the United States; today it its headquarters are located in Virginia. Its product portfolio ranges from business jets to combat vehicles, nuclear submarines and communication systems for security and protection. In constant expansion and with acquisitions every year, the group achieved revenues of $ 36.2 billion in 2018 by its almost 35,000 employees.
It has five business units: aerospace, combat systems, information technology, mission systems and marine systems. The aerospace unit achieved revenues of $ 8.5 billion in 2018. This segment includes Jet Aviation, which operates 30 airport facilities in Asia, the Caribbean, Europe, the Middle East and North America and offers maintenance and repair services. Next to it, Gulfstream is the manufacturer of aircrafts, whose main models are the G280, the G550, the G500, the G600, the G650 and the G650ER.
Bombardier was founded in Quebec, Canada, in 1942 by the engineer Joseph-Armand Bombardier, and is today one of the leading manufacturers of commercial and private trains and airplanes. It is known for its C Series high-tech aircraft line, which transports up to 150 passengers. With almost 70,000 employees, it has production and engineering sites in 28 countries. In 2018, it reached revenues of $ 16.2 billion.
The commercial aircraft segment has sold 1,900 units in 90 countries which, every week, carry 1.5 million passengers. In addition, it has a business aircraft line, where its main products are Learjet, Challenger and Global. Last year, the company was recognized within the Global 100 Most Sustainable Corporations in the World Index.
The top 10 Boeing competitors are: Airbus, Lockheed Martin, United Technologies, GE Aviation, Northrop Grumman, Safran, Rolls Royce, BAE Systems, General Dynamics and Bombardier. Together they have raised over 303B between their estimated 900K employees. Boeing has 153,000 employees and is ranked 1st among it’s top 10 competitors. The top 10 competitors average 90,000.
|Airbus||1970||Blagnac, Haute-Garonne, France||133k|
|Lockheed Martin||1995||Bethesda, Maryland, USA||105k|
|United Technologies||1934||Farmington, Connecticut, USA||200k|
|GE Aviation||1917||Cincinnati, Ohio, USA||48k|
|Northrop Grumman||1994||Falls Church, Virginia, USA||85k|
|Rolls Royce||1904||Kings Place, London, UK||50k|
|BAE Systems||1999||Farnborough, Hampshire, UK||85k|
|General Dynamics||1952||Reston, Virginia, USA||35k|
|Bombardier||1942||Montréal, Québec, Canada||68k|