Boeing
Kelly Ortberg
Overview
Boeing is one of the world's largest aerospace companies, spanning commercial airplanes, defense and space systems, and aftermarket services. After a deeply disrupted 2024, Boeing improved materially through 2025 and into 2026: it delivered 600 commercial aircraft in 2025, then opened 2026 with 143 commercial deliveries, $22.2B of Q1 revenue across all three segments, a record $695B total backlog, and a narrower core loss. The company completed the Spirit AeroSystems reacquisition in December 2025, and in May 2026 confirmed it had passed the FAA capstone review to lift 737 MAX output to 47 jets per month. Boeing remains one of the two central global commercial-jet manufacturers alongside Airbus, with its near-term trajectory hinging on the 737 ramp, 777X certification, and sustained progress on safety and quality reforms.
Main Products
Boeing's current single-aisle aircraft family, spanning the 737-7 through 737-10, built around improved LEAP-1B engines, lower fuel burn, and broad commonality for airline operators.
In active production and airline service worldwide. The family now anchors Boeing's narrow-body lineup, while the MAX 7 and MAX 10 continue certification work alongside delivered MAX 8 and MAX 9 variants.
Wide-body long-haul twin-engine aircraft family built around composite structures, lower fuel burn, and route-opening flexibility for airlines.
In active production at Boeing's Everett and North Charleston facilities. Three variants: 787-8, 787-9 (most popular), and 787-10.
Next-generation wide-body twin-engine aircraft and the world's largest twin-engine jetliner, featuring folding wingtips, composite wings, and GE9X engines.
Flight testing and certification work continue as Boeing advances the 777-9 passenger model and the 777-8 Freighter toward entry into service.
What's Next
777-9 certification and first delivery
The FAA approved Phase 4A of the 777-9 TIA campaign in March 2026 and Lufthansa's first production aircraft flew in May 2026. Boeing still targets type certification in 2H 2026 and first delivery to Lufthansa in 2027, but it is also working through a GE9X mid-seal durability issue without slipping the delivery date.
737 MAX 7 and MAX 10 certification
Both MAX 7 and MAX 10 have completed more than 80% of certification flight testing, with MAX 10 entering TIA Phase 2 in Q1 2026. The FAA expects to certify the MAX 7 by mid-2026 and the MAX 10 before year-end, with first deliveries (Southwest, Ryanair) in 2027.
Bed in the Spirit AeroSystems integration
With the December 2025 acquisition closed and ~15,000 Spirit employees folded into Boeing, the focus shifts to translating it into measurable quality gains — Boeing reports a 45% drop in 737 fuselage defects since 2024 — and stabilising rail deliveries of 737 fuselages from Wichita as the line ramps to 47/month.
Operations & Revenue
Operating across Commercial Airplanes, Defense Space & Security, and Global Services. Boeing opened 2026 with $22.2B of Q1 revenue (+14% YoY), 143 commercial deliveries, and a record $695B total backlog, while narrowing its core loss to ($0.20) per share and improving free cash flow to ($1.5B) from ($2.3B) a year earlier. Defense, Space & Security returned to positive operating margin at 3.1% on 21% revenue growth, helped by KC-46 and classified programs. The 737 MAX line is running at 47/month after passing the FAA capstone review in May 2026, with Spirit AeroSystems now integrated and 777X / 737 MAX 7 and 10 certification work continuing.
Revenue Streams
Design, manufacturing, and sale of commercial jet aircraft including the 737, 787, and 777 families. Boeing's largest revenue segment.
Military aircraft, satellites, missile defense systems, and government services including the F/A-18, KC-46, and Space Launch System.
Key Metrics
Employees
~182,000