{"id":14966,"date":"2022-10-29T23:56:00","date_gmt":"2022-10-29T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=14966"},"modified":"2024-09-02T10:32:14","modified_gmt":"2024-09-02T02:32:14","slug":"boeing-too-big-to-fall","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/","title":{"rendered":"How does Boeing make money? Too big to fall"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Company_profile\" >Company profile<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Commercial_jumbo_jets_and_defense_manufacturer\" >Commercial jumbo jets and defense manufacturer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Boeing_mentioned_in_my_latest_two_books\" >Boeing mentioned in my latest two books<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Why_we_need_to_discuss_Boeing\" >Why we need to discuss Boeing?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Boeings_main_business\" >Boeing&#8217;s main business<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Business_performance\" >Business performance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Company_performance_comparison\" >Company performance comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Stock_valuation\" >Stock valuation<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#In_a_special_business\" >In a special business<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Jumbo_aircrafts_have_never_been_ordinary_business\" >Jumbo aircrafts have never been ordinary business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Dont_forget_Boeing_is_a_major_defense_manufacturer\" >Don&#8217;t forget Boeing is a major defense manufacturer<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Long-term_outlook_is_not_opmistic\" >Long-term outlook is not opmistic<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Boeings_good_days_are_over\" >Boeing&#8217;s good days are over<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Lose_two_737_Max_in_a_row\" >Lose two 737 Max in a row<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Almost_lost_the_worlds_largest_market\" >Almost lost the world&#8217;s largest market<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Closing_words\" >Closing words<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Two_rivals\" >Two rivals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/29\/boeing-too-big-to-fall\/#Related_articles\" >Related articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Company_profile\"><\/span>Company profile<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Commercial_jumbo_jets_and_defense_manufacturer\"><\/span>Commercial jumbo jets and defense manufacturer<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Boeing (ticker: BA) is one of only two commercial aircraft in the world, the other being Europe&#8217;s AirBus (ticker: EADSY). It is also one of the five largest arms dealers in the United States, including Lockheed Martin (ticker: LMT), Northrop  Grumman (ticker: NOC), Raytheon Technology (ticker: RTX), Boeing, and General Dynamics (ticker: GD).<\/p>\n\n\n\n<p><strong>Note<\/strong>: The long-developed commercial aircraft C919 of China&#8217;s Commercial Aircraft Corporation of China (COMAC) will officially enter the market in 2023, join customers&#8217; aircraft fleet, and start the operation; therefore, it will soon break the long-term duopoly of Boeing and AirBus.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Boeing_mentioned_in_my_latest_two_books\"><\/span>Boeing mentioned in my latest two books<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>I have discussed this company in my recent two books; including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In &#8220;<a href=\"https:\/\/www.books.com.tw\/products\/0010889106?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">The Rules of Super Growth Stocks Investing<\/a>&#8220;,\n<ul class=\"wp-block-list\">\n<li>3-1, page 150-151<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>In &#8220;<a href=\"https:\/\/www.books.com.tw\/products\/0010935641?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">The Rules of 10 Baggers<\/a>&#8220;,\n<ul class=\"wp-block-list\">\n<li>3-6, page 163<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_we_need_to_discuss_Boeing\"><\/span>Why we need to discuss Boeing?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Since Boeing produces jumbo jets and is itself a major manufacturer of defense weapons in the United States, the upstream and downstream supply chains are very large and complex. The number of suppliers announced by Boeing itself is as many as 12,000, which is so important that it directly affects the United States&#8217;s GDP, it is a typical representative of industry and manufacturing of United States. Therefore, it is suitable for investment presentations in industry and manufacturing, which is why this company must be mentioned in both of my books.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Boeings_main_business\"><\/span>Boeing&#8217;s main business<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Boeing&#8217;s main business is the manufacture of aircraft (especially commercial passenger aircraft). In 2020, Boeing produced more than 900 aircraft per year, which means that one aircraft can be produced in less than 10 hours. By comparison, Airbus expects to deliver 700 commercial jets this year.<\/p>\n\n\n\n<p>According to Boeing&#8217;s annual report, the company&#8217;s main business are as follows:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Business segment<\/td><td>Scope<\/td><\/tr><tr><td>Boeing Commercial Airplane (BCA)<\/td><td>Manufacture and sales of 737, 747, 767, 777, 787, 797 and other large commercial aircraft<\/td><\/tr><tr><td>Defense, Space\uff06Security (BDS)<\/td><td>Defensive products, like A10, B-52, C-17, E-3A, F-15, MQ-25A, F-18, F-151, MH-6 helicopter, AH-64 Apache helicopter, P8, AGM-84 Harpoon anti-ship missile, etc.<\/td><\/tr><tr><td>Boeing Global Service (BGS)<\/td><td>Provide after-sales service for Boeing customers; including parts replacement, maintenance, technical support, product upgrades, product training, etc.<\/td><\/tr><tr><td>Boeing Capital (BCC)<\/td><td>Boeing&#8217;s venture business like acquisitions and investments.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Business_performance\"><\/span>Business performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Company_performance_comparison\"><\/span>Company performance comparison<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Metric<\/td><td>Boeing<\/td><td>Airbus<\/td><td>Lockheed Martin<\/td><td>Northrop Grumman<\/td><td>Raytheon Technology<\/td><\/tr><tr><td>Year 2021 revenue (US$ million)<\/td><td>62,286 +7.09%<\/td><td>59,354.7 -2.65%<\/td><td>67,044 +2.52%<\/td><td>35,667 -3.08%<\/td><td>64,388 +13.79%<\/td><\/tr><tr><td>Gross margin<\/td><td>8.33%<\/td><td>17.7%<\/td><td>13.57%<\/td><td>20.38%<\/td><td>20.22%<\/td><\/tr><tr><td>Operating margin<\/td><td>(1.1)%<\/td><td>8.5%<\/td><td>11.67%<\/td><td>21.01%<\/td><td>10.59%<\/td><\/tr><tr><td>Net margin<\/td><td>(6.75)%<\/td><td>8.08%<\/td><td>9.42%<\/td><td>19.64%<\/td><td>6%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Stock_valuation\"><\/span>Stock valuation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Metric (10\/26\/2022)<\/td><td>Boeing<\/td><td>Airbus<\/td><td>Lockheed Martin<\/td><td>Northrop Grumman<\/td><td>Raytheon Technology<\/td><\/tr><tr><td>Market Value (US$ billion)<\/td><td>87.08<\/td><td>81.748<\/td><td>120.59<\/td><td>81.49<\/td><td>130.46<\/td><\/tr><tr><td>Share price<\/td><td>146.65<\/td><td>25.95<\/td><td>460.15<\/td><td>526.75<\/td><td>88.36<\/td><\/tr><tr><td>P\/E<\/td><td>0<\/td><td>20.93<\/td><td>21.13<\/td><td>14.68<\/td><td>29.71<\/td><\/tr><tr><td>P\/S<\/td><td>1.38<\/td><td>1.54<\/td><td>1.91<\/td><td>2.36<\/td><td>2.03<\/td><\/tr><tr><td>Dividend yield<\/td><td>0<\/td><td>1.57%<\/td><td>2.61%<\/td><td>1.31%<\/td><td>2.49%<\/td><\/tr><tr><td>Stock performance in past 5 years<\/td><td>-42.82%<\/td><td>+3.51%<\/td><td>+49.4%<\/td><td>+76.96%<\/td><td>+18.35%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"In_a_special_business\"><\/span>In a special business<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Jumbo_aircrafts_have_never_been_ordinary_business\"><\/span>Jumbo aircrafts have never been ordinary business<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The global jumbo jets market, which has been dominated by the duopoly for the past few decades, is now determined to be broken, because Chinese-made jumbo aircraft have appeared and entered the Chinese and international markets this year.<\/p>\n\n\n\n<p>Boeing and Airbus have long monopolized the world&#8217;s large aircraft. Both the United States and Europe have blatantly violated the spirit of the WTO and offered unlimited subsidies, trying to squeeze each other out of this market and then monopolize the market. <\/p>\n\n\n\n<p>Not only that, the two sides also used their best efforts to use their political influence to threaten and lure all over the world, and use the power of US and EU to provide infinite monetary subsidies and snatch orders. Using the various visible and under-the-table strengths of the United States and Europe, several former and potential large aircraft manufacturers (including Russia, Japan, Canada, Brazil, etc.) have been excluded for decades, leaving only Boeing and Airbus in the long run. Monopolize the global civil large aircraft market.<\/p>\n\n\n\n<p>In addition, the two sides continued to report to each other and put pressure on the WTO to make a judgment against the other side. This ugly farce lasted for decades. It was not until this year that the jumbo jet C919 made by China left the factory this year. The main rival of the two sides has already appeared, and the two sides argument has stopped.<\/p>\n\n\n\n<p>But this will start to change next year, because COMAC&#8217;s jumbo jets next year. No doubt, it will &#8220;gragually&#8221; cannibalize this market. Probally will not get sizable customer orders from Europe or US, but it will happen in next decade.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dont_forget_Boeing_is_a_major_defense_manufacturer\"><\/span>Don&#8217;t forget Boeing is a major defense manufacturer<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As in the first table of this article, don\u2019t forget that Boeing has long been the main defense manufacturer in the United States. In the column of Defense, Aviation, and Security Defense, Space &amp; Security (BDS) in the table, I sort out the famous arms produced by Boeing.<\/p>\n\n\n\n<p>According to the latest 2021 rankings by Sweden&#8217;s Stockholm Peace Research Institute (SIPRI), the United States is the world&#8217;s largest arms exporter, accounting for 38.6% of total exports. The United States accounted for five of the top ten arms exporters. This means that Boeing also sells arms to the world.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Long-term_outlook_is_not_opmistic\"><\/span>Long-term outlook is not opmistic<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Boeings_good_days_are_over\"><\/span>Boeing&#8217;s good days are over<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Affected by the continuous suspension of the 737 MAX, the epidemic, and the three-year delay in delivery of the 777 X passenger plane, Boeing&#8217;s loss in 2020 will reach $11.9 billion, the largest loss in Boeing&#8217;s history. With revenue of $58.2 billion in 2020, Boeing lost money for the second consecutive year in 2020.<\/p>\n\n\n\n<p>The 737 MAX incident can be said to be a watershed in the operations of Boeing and Airbus. At present, Boeing clearly has been behind  Airbus in jumbo jets market. It will be difficult to return to the prosperity of the past in the short term.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Lose_two_737_Max_in_a_row\"><\/span>Lose two 737 Max in a row<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In 2018 and 2019, two Boeing 737 MAX plane crashes occurred, killing a total of 346 people. After that, the 737 MAX was suspended for 20 months by the US FAA. Countries around the world have made similar actions. The punishment brought Boeing&#8217;s business to a virtual standstill.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Almost_lost_the_worlds_largest_market\"><\/span>Almost lost the world&#8217;s largest market<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Boeing&#8217;s 2021 report pointed out that China needs 8,700 new passenger aircraft in the next 20 years; the mainland China market accounts for 20 to 25% of Boeing&#8217;s global sales. China is the world&#8217;s largest jumbo jets market, accounting for almost 20% of the global market.<\/p>\n\n\n\n<p>The relationship between China and the United States has been poor in recent years. In 2019, Boeing&#8217;s president in charge of China said: &#8220;It is well known for reasons&#8221; that it has not been able to sell aircraft in China for two years.<\/p>\n\n\n\n<p>In 2022, the three major China airlines signed a $37.257 billion new aircraft order with Airbus to buy 292 new Airbus A320 NEO jumbo jet; it was a serious blow to Boeing.<\/p>\n\n\n\n<p>The tragedy for Boeing is more than that. In order to welcome the visit of German Chancellor Schotts on 11\/4\/2022, CASC (China Aviation Supplies Corp.), a state-owned enterprise in charge of aviation equipment procurement, announced that it has reached a purchase agreement with Airbus and signed a purchase agreement for 140 aircraft, worth about $17 billion in contracts. Previously, in 2019, China Aviation Materials and Airbus signed an order for 300 passenger aircraft, including 290 A320 series and 10 A350 series aircraft, with a list price of about 30 billion euros.<\/p>\n\n\n\n<p>What about Boeing? It must go back to 2017, when CASC signed an order for 300 passenger jets worth up to $37 billion with Boeing of the United States.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Closing_words\"><\/span>Closing words<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Boeing has lost two main models in a row, and China-made jumbo jet C919  has  appeared this year and entered the Chinese and international markets. Boeing has had no orders in China for years, and the situation is unlikely to change in the foreseeable future.<\/p>\n\n\n\n<p>But investors should remember: Boeing is not an ordinary company, not just a company too big to fail. The United States cannot let it be the underdog, and the company cannot fail.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Two_rivals\"><\/span>Two rivals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>For a long time, Boeing in the United States has only had the heavyweight rival of Europe&#8217;s AirBus (ticker: EADSY). These two companies have been locked in a lawsuit for decades, causing the WTO a headache.<\/p>\n\n\n\n<p>But these two companies suddenly reconciled for no other reason than that they now have a common rival, Comac. Moreover, COMAC is not an ordinary opponent. Boeing and AirBus dare not take it lightly because:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>China is currently the world&#8217;s second largest commercial aircraft market, accounting for approximately 20% of global market demand in 2019.<\/li>\n\n\n\n<li>However, Boeing&#8217;s own latest market outlook in August 2024 pointed out that by 2043, mainland China is expected to become the largest aviation market, and the Chinese aviation market will require aviation services worth US$780 billion and nearly 430,000 new employees.<\/li>\n\n\n\n<li>China&#8217;s four major airlines have purchased hundreds of COMAC&#8217;s C919 aircraft. China&#8217;s four major airlines will all operate C919 aircraft in 2024. Among them, China Eastern Airlines&#8217; C919 aircraft has been flying commercially for two years. . There are also foreign airlines that are considering placing orders. Among them, Brunei Airlines has placed an order for 15 aircraft. According to statistics in January 2023, 1,035 orders for the C919 large passenger aircraft have been received.<\/li>\n\n\n\n<li>China&#8217;s C919 passenger aircraft is undergoing European certification. In August 2024, a delegation from the European Aviation Safety Agency (EASA), the European Union&#8217;s aviation safety agency, gave &#8220;positive feedback&#8221; and officials are more optimistic about obtaining certification in 2025.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"287\" height=\"81\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2022\/10\/b-1600x1200-1.jpg\" alt=\"Boeing\" class=\"wp-image-15018\"\/><figcaption class=\"wp-element-caption\">credit: Boeing<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_articles\"><\/span>Related articles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/03\/low-orbit-satellites\/\" target=\"_blank\" rel=\"noreferrer noopener\">Low-orbit satellites (LOS) progress, relevant companies<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/04\/14\/ge-spinoff\/\" target=\"_blank\" rel=\"noreferrer noopener\">How did three listed companies make money after GE spinoff? 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Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>How does Boeing make money? Too big to fall. A commercial jumbo jets and defense manufacturer.<\/p>\n","protected":false},"author":1,"featured_media":15018,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1072,453,734,986,28],"tags":[904,910,907,905,572,604,906,870],"class_list":["post-14966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aerospace","category-defense","category-industrials","category-transportation","category-us-stock-market","tag-ba","tag-casc","tag-comac","tag-eadsy","tag-gd","tag-lmt","tag-noc","tag-rtx"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/14966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=14966"}],"version-history":[{"count":49,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/14966\/revisions"}],"predecessor-version":[{"id":29872,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/14966\/revisions\/29872"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/15018"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=14966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=14966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=14966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}