The top Boeing competitors are Airbus, Lockheed Martin, General Dynamics, Northrop Grumman, Raytheon Company, GE Aviation, Safran and others. Boeing is one of the world’s major aerospace companies that are based out in the United States. It is the top producer of commercial jetliners and defense, space and security systems. Boeing has their service extended to airlines in about 150 countries.
In 2022, Boeing delivered 480 commercial airplanes and recorded 808 net orders. It recorded revenue of $66,608 million in 2022.
The various products of Boeing are military and commercial aircraft, weapons, satellites, defense systems and advanced information and communication systems. Boeing has approximately 140,000 employees across the United States. The main business units of Boeing are Defence, Commercial Airlines, and Space & Security.
Table of Contents
Boeing’s Competitors include
1) Airbus
- Product Type: Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1970.
- Founders: Aerospatiale, Deutsche Aerospace, and Construcciones Aeronáuticas SA.
- Headquarters: Blagnac, France.
- Area Served: Worldwide.
- Current CEO: Guillaume Faury.
- Revenue: $12.626B (March 31, 2023)
- Market cap: $114.04B (August 29, 2023)
- Number of employees: 134,267 (2022)
Airbus designs manufacture and sell aeronautical products across the world. It is a European multinational corporation. Airbus is into design, manufacture, and selling of products that are related to civil and military aeronautical. Airbus has more than 20 manufacturing sites, each producing and/or assembling different parts of the aircraft, which are then shipped to final assembly.
The two main divisions for Airbus are Defence and Space and Helicopters. Airbus is considered as an international developer in the world of aerospace and also a leader in the aeronautical industry. Airbus has a robust European legacy which spans across 180 locations and 12,000 direct suppliers across the globe. In total, Airbus has delivered 661 aircraft from its global commercial aircraft production network and sites in Hamburg, Mirabel, Mobile, Tianjin, and Toulouse.
Airbus delivered 127 commercial aircraft in Q1 2023. Airbus Group total assets for the quarter ending March 31, 2023 were $126.726B. Airbus Group net income for the quarter ending March 31, 2023 was $0.500B. Airbus Group operating income for the quarter ending March 31, 2023 was $0.419B.
Airbus has so far delivered approximately 11,000 aircraft to airlines across the world and around 12,000 helicopters that are operated by almost 3,000 customers. Airbus has been innovating using the technologies and scientific knowledge which has been a driving force for them. Due to their innovation in technology and great commitment to the aerospace industry, Airbus is considered as one of the top Boeing competitor.
2) Lockheed Martin
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1912.
- Founders: Allan A. Loughead and Malcolm L. Loughead.
- Headquarters: Bethesda, Maryland, United States.
- Area Served: Worldwide.
- Current CEO: James Taiclet.
- Revenue: $2.090B (June 30, 2023)
- Market cap: $112.92B (August 30, 2023)
- Number of employees: 116,000(2022)
Lockheed Martin is an aerospace company that is headquartered in Bethesda, Maryland. Lockheed Martin is mainly involved in research, design, development, manufacture, and integration of systems, services, and products of advanced technology. Lockheed Martin has about approximately 100,000 employees in the United States.
Lockheed Martin net income for the quarter ending June 30, 2023 was $1.681B. Lockheed Martin operating income for the quarter ending June 30, 2023 was $2.135B. Lockheed Martin gross profit for the quarter ending June 30, 2023 was $2.090B.
It has its operations in more than 590 facilities in 50 states across the United States. In addition to their facilities in the United States, Lockheed Martin also has business locations in over 52 nations and territories around the world. Lockheed Martin International is dedicated to increasing the global security, to strengthen the global partnerships. Few of their products are F-35 Lightning II, C-130 J aircraft, integrated air and missile defense, cybersecurity and commercial satellites. Lockheed Martin has a proven performance in the aerospace industry and it is indeed considered as one of the top Boeing competitor.
3) General Dynamics
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1952.
- Founders: Henry Crown and David Sarnoff.
- Headquarters: Falls Church, Virginia, United States.
- Area Served: Worldwide.
- Current CEO: Phebe Novakovic.
- Revenue: $10.152B (June 30, 2023)
- Market cap: $61.75B (August 30, 2023)
- Number of employees: 106,500 (2022)
Also regarded as a global aerospace and defense company, General Dynamics is headquartered in Falls Church, Virginia.The main business groups of General Dynamics are Combat Systems, Aerospace, Information Systems, Marine Systems, and Technology. General Dynamics employs about 1000s of employees across more than 45 countries.
General Dynamics net income for the quarter ending June 30, 2023 was $744B. General Dynamics gross profit for the quarter ending June 30, 2023 was $1.567B. General Dynamics operating income for the quarter ending June 30, 2023 was $0.962B.
The company produces the best products by having a close knowledge of the customer requirements along with their skills and innovation. General Dynamics has a culture of incessant upgrading that enables them to for a better performance. As General Dynamics is moving at a very fast pace by making use of the latest technology in the aerospace domain, it is considered as a top Boeing competitor.
4) Northrop Grumman
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1939.
- Founders: Jack Northrop and John K. Northrop.
- Headquarters: Falls Church, Virginia, United States.
- Area Served: Worldwide.
- Current CEO: Kathy Warden.
- Revenue: $9.576B (June 30, 2023)
- Market cap: $65.07B (August 30, 2023)
- Number of employees: 95,000 (2022)
Yet another Boeing competitor and aerospace and defense company, Northrop Grumman is a global company that is headquartered in the United States. It is a security company acknowledged globally which provides innovative systems, solutions, and products to commercial customers and government across the globe.
The company has more than 550 facilities in all 50 U.S. states and in more than 25 countries around the world. Northrop Grumman net income for the quarter ending June 30, 2023 was $0.812B. Northrop Grumman gross profit for the quarter ending June 30, 2023 was $2.040B. Northrop Grumman operating income for the quarter ending June 30, 2023 was $0.967B. Northrop Grumman total assets for the quarter ending June 30, 2023 were $45.609B.
Northrop Grumman has with them the best competences in system design, systems engineering, and manufacturing. Their processes are well equipped from the planning to the execution phase. Northrop Grumman has more than 95,000 employees across 25 countries. The employees aim at providing the toughest customer challenge to develop sophisticated products. Due to their technology and its customer service, it is considered as Boeing competitor.
5) Raytheon Company
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1922.
- Founders: Vannevar Bush, Laurence K. Marshall, Charles G. Smith, and Charles Stark Draper.
- Headquarters: Waltham, Massachusetts, United States.
- Area Served: Worldwide.
- Current CEO: Gregory J. Hayes.
- Revenue: $18.315B (June 30, 2023)
- Market cap: $124.23B (August 30, 2023)
- Number of employees: 182,000(2022)
Raytheon is a technology company that is dedicated to defense, cyber security solutions and civil government. It is headquartered in Massachusetts. Raytheon provides like mission systems, state of the art electronics and C51. The main domains of their business are integrated defense system, intelligence, information and services, missile systems, space and airborne systems and global business services.
Raytheon net income for the quarter ending June 30, 2023 was $1.327B. Raytheon operating income for the quarter ending June 30, 2023 was $1.458B. Raytheon gross profit for the quarter ending June 30, 2023 was $3.797B. Raytheon total assets for the quarter ending June 30, 2023 were $162.161B.
It is considered as the world’s largest producer of guided missiles. Raytheon has about 182,000 employees across the world and average annual revenue of $18.315B. Due to their wide array of domains that Raytheon caters to and their innovation in technology, it is indeed considered as one of the top Boeing competitor.
6) GE Aviation
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1917.
- Founders: Charles Proteus Steinmetz and Sanford A. Moss.
- Headquarters: Evendale, Ohio, United States.
- Area Served: Worldwide.
- Current CEO: H. Lawrence Culp Jr.
Also regarded as a top Boeing competitor, GE Aviation is headquartered in Ohio, United States. It is the leading provider of military, commercial, aviation jet and turboprop engines. It also provides the related components along with electrical power, avionics and mechanical systems for aircraft.
GE Aerospace’s 2022 revenue came in at $26.1 billion. The company landed new orders in 2022 for 2,127 commercial aviation engines, including 1,515 Leaps. GE Aerospace’s 2022 profit jumped 66% year-on-year to $4.8 billion
GE Aviation is being recognized globally for the services that are offered by them. GE strives to work to bring out a digital industry business to get the insights from large data that would bring out some value for the customers. As GE Aviation is considered as a leading aeronautical company, it is indeed a top Boeing competitor.
7) Safran
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 2005.
- Founders: None.
- Headquarters: Paris, France.
- Area Served: Worldwide.
- Current CEO: Olivier Andriès.
- Revenue: $21.033B (2022)
- Market cap: $69.06B (August 30, 2023)
- Number of employees: 25,260 (2022)
Safran is a company that manufacturers aerospace component, rocket engine, and aircraft engine. It is headquartered in France. Safran is high technology Company recognized globally and that has their operations in the aircraft equipment, space, and defense areas. Recognized globally, Safran has about 58,000 employees across the globe.
Safran annual net income for 2022 was $-2.591B. Safran annual operating income for 2022 was $2.341B. Safran annual gross profit for 2022 was $10.352B.
It is ranked among the top 100 global innovators and considered as the leading manufacturer of helicopter turbine engines, aircraft wiring systems, and power transmissions. Safran’s innovation efforts cover a wide range of areas, including advanced materials, additive manufacturing, artificial intelligence, and more. In addition to its innovative products, Safran is also recognized for its after-sales support, with three of its companies ranked among Airbus’ 10 best aftermarket suppliers. As Safran is a fastest growing company, it is indeed considered as a top Boeing competitor.
8) Rolls Royce
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1906.
- Founders: Henry Royce and Charles Rolls.
- Headquarters: London, United Kingdom.
- Area Served: Worldwide.
- Current CEO: Warren East.
- Revenue: $16.723B (2022)
- Market cap: $22.56B (August 30, 2023)
- Number of employees: 41,800 (2022)
Rolls Royce is a British multinational company that is headquartered in London. It is the world’s largest company that designs, manufactures and distributes aircraft engines. It has also had its operations in marine propulsion and energy sectors.
Rolls Royce focus of innovation daily and the success is influenced by on the capability to create technologies for the future world and the requirements of the customers. Rolls Boyce gives a greater importance to research and development and has partnered technically with almost 31 universities.
Rolls-Royce Holdings Annual Gross Profit in 2022 was $3,410(Millions of US $). Rolls-Royce Holdings Annual Net Income in 2022 was $-1,570 (Millions of US $).
It has about 22,300 employees in their 30 sites across the UK. As Rolls Royce focuses on research and development as their key area and innovates new technologies, it is considered as a top Boeing competitor.
9) Bombardier
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1942.
- Founders: Joseph-Armand Bombardier.
- Headquarters: Montreal, Canada.
- Area Served: Worldwide.
- Current CEO: Éric Martel.
- Revenue: US$ 6.9 billion (2022)
- Market cap: $3.94 Billion (August 2023)
- Number of employees: 15,169 (2022)
Bombardier is considered as the leading manufacturer of trains and planes in the world. It is headquartered in Canada. Bombardier works towards finding ways to bridge the distances across and to commute in an easy way. It tries to bring out mobility across the world.
Bombardier reported an adjusted EBITDA of $930 million for the full year of 2022, up 45% from the previous year. The reported EBIT for the full year of 2022 was $538 million. Bombardier also reported a positive adjusted net income of $113 million for the first quarter of 2023.
It has about 15,169 employees working towards bringing out a change in mobility for a better world. The aerospace company of Bombardier brings out innovative products of aviation to be used for business, commercial and specialized aircraft area. Bombardier Transportation has a very diverse customer base with products or services in more than 60 countries, and it has an installed base of over 100,000 vehicles worldwide. As Bombardier is a fastest growing company, it is indeed considered as one of the top Boeing competitor.
10) Textron
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1923.
- Founders: Clyde Cessna, Warren R. Eaton, and Walter Beech.
- Headquarters: Providence, Rhode Island, United States.
- Area Served: Worldwide.
- Current CEO: Scott Donnelly.
- Revenue: $3.424B (June 30, 2023)
- Market cap: $15.24B (August 30, 2023)
- Number of employees: 34,000 (2022)
American based aeronautical company; Textron is headquartered in Rhode Island, USA. It is recognized globally for their 5 segments of business that are Textron aviation, Bell, Industrial, Finance and Textron systems. Textron provides many innovative products and services for their customers across aircraft, defense, specialized vehicles, fuel systems, and industries.
With robust commercial activity, several significant military awards, and an active pipeline of new products, Textron is well-positioned to continue this momentum for an even more successful 2023. Textron net income for the quarter ending June 30, 2023 was $0.263B. Textron gross profit for the quarter ending June 30, 2023 was $0.578B. Textron operating income for the quarter ending June 30, 2023 was $0.289B.
It has about 34,000 employees across 25 countries. Textron is well known for great technologies used in the evolution of rotorcraft, aircraft, armored vehicles, automotive systems etc. It integrates products, services, and solutions across the world. Due to their production in many segments, Textron is considered as a top Boeing competitor.
11) Cessna
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1927.
- Founder: Clyde Cessna.
- Headquarters: Wichita, Kansas, United States.
- Area Served: Worldwide.
- Current CEO: Scott Donnelly.
An aviation aircraft manufacturing company, Cessna Aircraft Company is headquartered in Kansas, United States. Cessna is an American brand of general aviation aircraft owned by Textron Aviation since 2014. It is well known in the manufacturing of piston-powered aircraft and business jets. Cessna main products are Citation, Turboprop, and Piston. The Citation business jets are designed in such a way that it can fit a wide range of mission equipment.
The turboprop is designed in a rough and flexible way to meet the requirements of the customers. The piston which is single engine is considered top in pilot training and recreation aircraft. Due to their various models and their innovative products, Cessna is considered as one of the top Boeing competitor.
12) Irkut
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1932.
- Founder: None.
- Headquarters: Moscow, Russia.
- Area Served: Worldwide.
- Current CEO: Yuri Slyusar.
- Revenue: ?16,152 Mil (2022)
- Market cap: 340 billion
Irkut is an aircraft manufacturing company that is headquartered in Moscow, Russia. The Irkut Aviation Plant carries out a series of production and development of prototypes. The main products of Irkut are Su-30SM, MC-21, Yak-130, Su-30MK, and Yak-152. Irkut offers services to their customer’s training that is associated with aviation.
In July 2023, it was announced that Irkut Corporation will be rebranded as Yakovlev, reflecting the nation’s determination to set a new course for the Russian civil aviation industry.
The design and engineering unit of Irkut is called as the Yakovlev Engineering Center. It provides services like research, design, documentation and manufacturing ground and flight tests. It also provides support for the sale of the product. As Irkut is one of the fastest growing companies in aircraft, it is considered as one of the top Boeing competitor.
13) BAE Systems
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1999.
- Founders: None.
- Headquarters: London, United Kingdom.
- Area Served: Worldwide.
- Current CEO: Charles Woodburn.
- Revenue: $26.294B (2022)
- Market cap: $39.33B ( August 30, 2023 )
- Number of employees: 93,100 (2022)
A British defense, security, and aerospace company, BAE system is headquartered in the United States. BAE Systems main products and services to their customers fall under the categories of air, land, Future technologies, Cybersecurity, and intelligence, electronics, services, and sea. It has about 32,000 employees across the United States, United Kingdom, Israel, and Sweden.
Bae Systems annual gross profit for 2022 was $17.519B. Bae Systems annual net income for 2022 was $1.968B. Bae Systems annual operating income for 2022 was $2.729B.
As part of their business, BAE systems designs develops and manufactures many electronic products for military and commercial applications, combat vehicles and munitions. Due to their widespread of domains and their business focus and is one of the largest growing companies in aerospace, it is considered as one of the top Boeing competitor.
14) Embraer
- Product Type: Aerospace, Commercial aircraft, And helicopters.
- Industry: Aerospace and defense.
- Founded: 1969.
- Founder: Ozires Silva.
- Headquarters: Sao Jose dos Campos, Sao Paulo, Brazil.
- Area Served: Worldwide.
- Current CEO: Francisco Gomes Neto.
- Revenue: $1,292 (June 30, 2023)
- Market cap: $2.87B ( August 30, 2023)
- Number of employees: 19,475 (2022)
Embraer is an aeronautical company that is headquartered in Brazil. It produces aircraft for commercial, executive, military, and agriculture and also provides services for aeronautical. The main domain that Embraer works on is commercial aviation, executive aviation, defense & security, services & support and agricultural aviation.
Embraer Quarterly Net Income as of June 30 2023 is $-19 million. Embraer Quarterly Gross Profit as of June 30 2023 is $223 million. Embraer Quarterly Operating Income as of June 30 2023 is $73 million.
It is considered as the world’s first largest manufacturer of commercial aircraft. Embraer provides best achievements in the field of aerospace. It also provides unique solutions to constantly keep upgrading the production process. Embraer’s FleetSmart solution was developed keeping in view of the tasks that the airlines face.
This solution right size the aircraft for all the aspect of the business. Due to their popularity in the field of aerospace, Embraer is considered as one of the top Boeing competitor.
15) Comac
- Product Type: Commercial aircraft.
- Industry: Aerospace and defense.
- Founded: 2008.
- Founders: None.
- Headquarters: Shanghai, China.
- Area Served: Worldwide.
- Current CEO: Chen Liyuan.
The Commercial Aircraft Corporation of China (Comac) is a company that manufactures aircraft and is headquartered in China. The main works of Cormac are large passenger aircraft; develop trunk liner, regional jet, and civil aircraft.
Comac also has their operations in the field of research and flight tests. Coma causes the standards of the modern enterprise systems which includes the airframer-suppliers model. This model focuses on the design of aircraft, developing, assembly, marketing, sales and customer service. Comac’s large passenger aircraft is designed in a comfortable fashion and which is safe. Due to the service and wide range of products, it is considered as one of the top Boeing competitor.
16) Mitsubishi Aircraft
- Product Type: Commercial aircraft.
- Industry: Aerospace and defense.
- Founded: 2008.
- Founders: None.
- Headquarters: Nagoya, Japan.
- Area Served: Worldwide.
- Current CEO: Hisashi Miyajima.
- Revenue: 619.4 billion Japanese yen (2022)
- Number of employees: 77,991 (2022)
Mitsubishi Aircraft Corporation is a Japanese company that manufactures aircraft. It has approximately 1,600 employees. Their main businesses operations include developing aircraft, production, sales and customer service. The design of Mitsubishi aircraft is combined with great technologies that will provide comfort to the commuters.
Mitsubishi Heavy Industries Annual Net Income in 2022 was $928 million. Mitsubishi Heavy Industries Annual Gross Profit in 2022 was $5,359 million.
Mitsubishi Heavy Industries (MHI) owns 64% of the shares of the company, while Toyota Motor Corporation and Mitsubishi Corporation each own 10% of the shares. Other shareholders include state-owned Development Bank of Japan, Sumitomo Corporation, and Mitsui & Co. In February 2023, MHI terminated the Spacejet project.
The manufacturing of Mitsubishi takes care of attaining low operational costs and low impact on the environment. The Mitsubishi Aircraft design and manufacturing take care of highest fuel efficiency, lowest environmental impact, and most passenger comfort and increase reliability. Due to their various innovations that are seen in their various products, it is considered as one of the top Boeing competitor.
17) SpaceX
- Product Type: Spacecraft.
- Industry: Aerospace.
- Founded: 2002.
- Founders: Elon Musk.
- Headquarters: Hawthorne, California, United States.
- Area Served: Worldwide.
- Current CEO: Elon Musk.
- Revenue: US$4.6 billion (2022)
- Market cap: $150 billion
- Number of employees: 12,000 (April 2022)
SpaceX is an American company that manufactures aircraft and provides space transportation services. It is headquartered in California, United States. SpaceX designs and manufactures rockets and spacecraft. The main goal of SpaceX is revolutionizing space technology and to enable people to make a living on another planet.
It has more than 12,000 employees. Their main products are falcon 9, Falcon heavy and dragon. Falcon 9 is designed by SpaceX and is a two-stage rocket. It is used for consistent and safe transportation of satellites. Falcon Heavy is the world’s most powerful operational rocket. Dragon is the first spacecraft that is private to the space station. It is a free-flying that is designed to deliver cargo and people to orbiting destinations. Due to their design and usage, SpaceX is considered as one of the top Boeing competitor.
Conclusion
The aeronautical companies are moving at a very fast pace to achieve their business goals and objectives. Boeing makes use of the latest technology for providing various solutions to achieve better performance for their products.
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