Among the non-U.S. companies with which Boeing competes are BAE Systems and Airbus Group, which continue to build a strategic presence in the U.S. market, strengthening their North American operations and partnering with U.S. defense companies.
Also in the Defense, Space and Security (BDS) segment, Boeing faces strong competition, primarily from Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, General Dynamics Corporation and SpaceX.
In addition, some competitors have occasionally teamed with other competitors to address specific customer needs.
Boeing expects the trend of strong competition in BDS to continue in 2023.
Overall, the commercial airplane market and the airline industry remain extremely competitive.
Boeing faces aggressive international competitors seeking to increase market share, such as Airbus and new Chinese entrants.
In the face of this, the company is focused on improving its products and processes and continuing cost-cutting efforts. It intends to continue to compete with other aircraft manufacturers by providing customers with aircraft and services that offer superior design, safety, efficiency and value to customers around the world.
Boeing
From the company’s perspective, the commercial services and defense markets are extremely challenging and are comprised of many of the same strong U.S. and non-U.S. competitors that the BDS and Commercial Airplanes (BCA) segments face, along with other competitors in those markets.
On the other hand, its Global Services segment (BGS) leverages Boeing’s extensive service network to offer products and services that span the life cycle of its commercial and defense aircraft programs: training, fleet services and logistics, maintenance and engineering, modifications and upgrades, as well as the day-to-day cycle of door-to-door operations.
BGS expects the market to remain highly competitive in 2023, and aims to increase its market share by leveraging a high level of customer satisfaction and productivity.
Boeing is a world leader in the design, development, manufacture, sale, service and support of commercial aircraft, military aircraft, satellites, missile defense, manned spaceflight and launch systems and services.
It is also one of the top two manufacturers of 100-plus-seat aircraft for the global commercial aerospace industry and one of the largest U.S. defense contractors.
