# Boeing **Source:** https://geo.sig.ai/brands/boeing **Vertical:** Manufacturing **Subcategory:** Enterprise **Tier:** Leader **Website:** boeing.com **Last Updated:** 2026-04-14 ## Summary Commercial/defense aircraft maker in deep crisis; $66.5B FY2024 revenue; 2024 Alaska Airlines door blowout + IAM strike + $14B equity raise; new CEO Kelly Ortberg Aug 2024; Airbus gaining market share. ## Company Overview Boeing is one of the world's two dominant commercial aircraft manufacturers and a major defense and space contractor, founded in 1916 by William Boeing in Seattle, Washington and now headquartered in Arlington, Virginia—relocated from Chicago in 2022. The company trades on NYSE (BA) and reported approximately $66.5 billion in revenues for FY2024 under CEO Kelly Ortberg, who replaced Dave Calhoun in August 2024 amid a deepening quality and manufacturing crisis. Boeing's commercial aircraft division—the 737 MAX, 787 Dreamliner, and 777X—has been plagued by a series of safety, quality, and production crises beginning with the two fatal 737 MAX crashes in 2018 and 2019 (Lion Air and Ethiopian Airlines, killing 346 people), followed by a door plug blowout on an Alaska Airlines 737-9 MAX in January 2024 that triggered renewed FAA production rate restrictions and public confidence damage. Boeing's manufacturing quality deterioration reflects a decade of culture shift after the 1997 merger with McDonnell Douglas—which engineering insiders describe as a financially-oriented management culture displacing Boeing's engineering-first ethos—combined with outsourced production at Spirit AeroSystems (fuselages), inadequate quality inspection rigor, and workforce experience losses during COVID-era furloughs. A seven-week strike by 33,000 IAM machinist union members in September-November 2024 further delayed production ramp-up, reducing 737 MAX output to effectively zero during the dispute. Boeing completed a $14 billion equity raise in November 2024 to shore up its balance sheet, which carried approximately $58 billion in net debt. The company secured a tentative IAM contract and is targeting 737 MAX production rates of 38 per month by 2026, a level last achieved before the 2019 grounding. In 2025-2026, Boeing faces an existential competitive threat from Airbus, which captured over 60% of global commercial aircraft orders in 2022-2024 as airline customers hedged away from Boeing MAX dependence. The 777X wide-body program—originally targeted for certification by 2020, now pushed to 2026 at the earliest—has become an emblematic example of Boeing's delays. CEO Ortberg's mandate is restoring manufacturing quality, rebuilding supplier relationships strained by production volatility, and recovering the company's financial position through free cash flow positive status targeted by 2025-2026. Defense contracts including KC-46 tanker, T-7A Red Hawk trainer, MQ-25 stingray refueling drone, and Starliner spacecraft (which experienced 2024 crewed mission issues requiring astronaut return via SpaceX) add complexity to an already stressed organization. ## Frequently Asked Questions ### What does Boeing do? Boeing is the world's largest aerospace manufacturer and fourth-largest defense contractor, designing, manufacturing, and supporting commercial airplanes, defense systems, satellites, and spacecraft. The company operates through three divisions: Commercial Airplanes (737, 777, 787 families), Defense Space & Security (military aircraft, space systems, missiles), and Global Services (aftermarket support and maintenance). With over 14,000 Boeing aircraft in service globally, the company connects people and economies while supporting defense and space missions for over 150 countries. ### Who are Boeing's customers and target market? Boeing serves commercial airlines worldwide (including major carriers like United Airlines, American Airlines, and international operators), cargo carriers (FedEx, UPS), government defense departments (U.S. Department of Defense, allied military forces in 150+ countries), space agencies (NASA, international space programs), and leasing companies. The company's target market spans commercial aviation for passenger and freight transport, military customers requiring defense systems, and space exploration organizations. ### When was Boeing founded? Boeing was founded on July 15, 1916, when William E. Boeing incorporated Pacific Aero Products Company in Seattle, Washington. The company was renamed Boeing Airplane Company on April 18, 1917. The modern Boeing was significantly shaped by its 1997 merger with McDonnell Douglas, completed on August 1, 1997, which combined two aerospace giants in a $13 billion transaction. ### Where is Boeing headquartered? Boeing's global headquarters is located in Arlington, Virginia (Crystal City neighborhood), where it moved in 2022. Previously, the company was headquartered in Chicago from 2001-2022, and in Seattle, Washington from its founding in 1916 until 2001. Despite headquarters relocations, Boeing maintains major manufacturing operations in the Puget Sound region of Washington State (Renton for 737, Everett for widebody aircraft), South Carolina (787 Dreamliner), St. Louis (defense aircraft), and Philadelphia (Chinook helicopters). ### How much revenue does Boeing generate? Boeing's annual revenue for 2024 was $66.5 billion, a 14.5% decline from 2023's $77.8 billion. The company ended 2024 with a net loss of $11.8 billion, compared to a net loss of $2.2 billion in 2023. Fourth quarter 2024 revenue was $15.2 billion. The financial challenges reflected production disruptions from the door plug incident, a seven-week machinist strike, defense program charges, and workforce reduction costs. Boeing's backlog stood at $521 billion with over 5,500 commercial aircraft orders. ### What makes Boeing different from competitors? Boeing differentiates itself as the world's largest aerospace manufacturer with over a century of aviation innovation since 1916, the largest U.S. exporter by dollar value, and a comprehensive portfolio spanning commercial aircraft, defense systems, and space exploration. The company's integrated offerings across the full aerospace spectrum—from single-aisle 737s to heavy-lift rockets—provide diversification and technological expertise. Boeing's massive installed base of over 14,000 aircraft creates recurring aftermarket revenue through its Global Services division, strengthening long-term customer relationships. ### Who are Boeing's main competitors? Boeing's primary competitor in commercial aviation is Airbus, which delivered 263 aircraft in the first five months of 2024 versus Boeing's 196. In defense, Boeing competes with Lockheed Martin (F-35 fighter, C-130 transport), Northrop Grumman (bombers, space systems), Raytheon Technologies (missiles, defense electronics), General Dynamics, and BAE Systems. In space, competitors include SpaceX (crew and cargo transport), Lockheed Martin (space systems), and Northrop Grumman (satellites and launch vehicles). The competitive landscape varies by product segment and geographic market. ### How can I contact Boeing? Boeing can be contacted through its website at www.boeing.com or by reaching out to specific divisions: Commercial Airplanes, Defense Space & Security, or Global Services. The global headquarters is located at 929 Long Bridge Drive, Arlington, Virginia. For commercial aircraft inquiries, customers can contact Boeing's sales and support teams. Defense customers work with Boeing Defense, Space & Security representatives. Media inquiries can be directed to Boeing's communications department through the newsroom at boeing.mediaroom.com. ### Is Boeing hiring? Boeing's hiring status is complex following announcements in October 2024 to cut 17,000 jobs (approximately 10% of its workforce). While the company reduced its total headcount from roughly 170,000 employees, it continues selective hiring for critical positions, particularly engineering roles and positions supporting production ramp-up. Under CEO Kelly Ortberg's leadership with his engineering background, Boeing is emphasizing technical expertise and may prioritize hiring engineers and manufacturing specialists while managing overall workforce levels. ### What's the latest news about Boeing? Recent major developments include: Kelly Ortberg's appointment as CEO in August 2024 with a focus on rebuilding safety culture; resolution of a seven-week machinist strike in November 2024; production resumption in January 2025 for 737 MAX, 777, and 767 programs; a $36 billion order from Pegasus Airlines in December 2024; $1 billion investment in 787 South Carolina operations targeting 10 aircraft/month by 2026; 777X delivery delays pushed to 2027; net loss of $11.8 billion in 2024; and CFO transition with Jay Malave from Lockheed Martin joining in August 2025. ### What is Boeing's market position? Boeing is the world's largest aerospace manufacturer, the fourth-largest defense contractor globally (2022), and the largest U.S. exporter by dollar value. The company has over 14,000 commercial aircraft in service worldwide and maintains a backlog of over 5,500 commercial aircraft orders worth $521 billion. In commercial aviation, Boeing competes closely with Airbus for market leadership. In defense, it ranks behind Lockheed Martin, Raytheon Technologies, and Northrop Grumman. Boeing's market position has been challenged by recent quality and production issues but remains essential to global aerospace infrastructure. ### What are Boeing's future plans? Boeing's strategic priorities under CEO Kelly Ortberg focus on: rebuilding safety culture and quality systems; stabilizing and ramping up production (targeting 38 MAX/month with plans for 42/month pending FAA approval, 10 787s/month by 2026); delivering the 777X (first deliveries now expected in 2027); completing Starliner development for NASA; investing $1 billion in 787 South Carolina operations; restoring financial health after $11.8 billion loss in 2024; executing on $521 billion backlog; and regaining customer, regulator, and investor confidence. Industry analysts consider 2025 crucial for demonstrating Boeing can overcome its challenges and return to sustainable growth. ## Tags b2b, hardware, manufacturing, transportation, public, global, fortune500, enterprise --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*