Despite the limited competition among the airlines’ aircraft suppliers, the aviation sector as a whole is a highly competitive market. The Airbus Group, originally known as the European Aeronautic Defence and Space Company, and Boeing (BA), an American company, are the two main competitors in the large commercial aircraft market of the airline supply industry (EADS).
Large passenger aircraft manufacturers who are less well known are striving to establish a stronger presence globally. Additionally, there are local aviation companies that are well-known for producing smaller planes. Then there are those businesses that provide vital parts to the manufacturers of aircraft.
Similar to the auto industry, the manufacture of airplanes is a booming sector of international commerce. It is assumed often to be unimportant to our daily lives as aircraft manufacturers are less well-known to the general public than the industry’s heavyweights. In actuality, aircraft production has a greater impact on public lives than most are aware of. Besides the well-known aspect that most people will travel by plane at some point in their life, there is also the issue of the relationship between suppliers to the military and aircraft manufacturers.
The Airplane Manufacturing Market
The general airline business includes the market for producing airplanes. In 2021, the expected value of the global market was $413.51 billion. Businesses in this industry produce engines and other propulsion systems that are used in aviation, as well as other aircraft parts.
Regional and Other International Airplane Manufacturers
Leading producers of regional and business aircraft are Canadian-based Bombardier and Brazilian-based Embraer. Both of them concentrate on smaller-sized jets. Competition with Boeing and Airbus is arduous on a worldwide basis. However, three more recent suppliers to airlines—Comac in China, Mitsubishi in Japan, and UAC in Russia—are collaborating to develop a number of new wide-body aircraft. They aspire to one day be a serious contender that can challenge Boeing and Airbus’ hegemony in the large-jet market.
Large Passenger Airplane Manufacturers
The only two major makers of big passenger planes are Boeing and Airbus. The two businesses jointly hold an almost exclusive portion of the global market for large commercial jets. The 7-series of Boeing and the A-series of Airbus airplanes are their well-known names. These planes include jumbo jets, wide-body planes, and narrow-body planes.
Who Are the Major Airplane Manufacturing Companies?
Although it is extremely difficult to break through the aircraft manufacturing business, once one has accomplished so, power and profits can increase enormously. We will explore the five corporations that have contributed the most growth to the aircraft manufacturing sector in this article.
- Airbus Americas
Formerly known as the European Aeronautic Defence and Space Company, Airbus was established in 1970, and has long been a pioneer in the aircraft manufacturing sector. But as of 2019, Airbus formally overtook the long-time leader, Boeing, and has kept this position ever since.
Although its primary offices are in the Netherlands, France, and Spain, Airbus is a global company. They produce airplanes for both military and commercial usage, and in total, their planes have transported more than 12 billion people throughout the world.
- Boeing
Boeing, an American multinational corporation that was founded in 1916, has risen to the top of its sector by producing a variety of aircraft products, including aircraft, rockets, satellites, helicopters, and telecom equipment. Boeing ranks second globally in terms of revenue as a defense contractor or military supplier. The enormously high tax benefits and subsidies the Boeing Corporation obtains as a contractor surely have an impact on this. With a total of 380 commercial aircraft, the company also produces civilian aircraft.
- Lockheed Martin
Having only been established in 1995 as the result of the union of the Lockheed and Martin Marietta companies, Lockheed Martin has already established itself as a leading player. This American business produces military weapons, defense, and information security products and has over 110,000 employees. Military sales made up more than 3/4 of Lockheed Martin’s total yearly revenue in 2013, making it one of the biggest federal contractors in the United States. They produce and deliver spacecraft, rotary and mission systems, missiles, and fire control equipment in addition to aeronautics.
- Raytheon
Employing a 67,000 workforce, Raytheon Company was both one of the leading aerospace manufacturers and one of the major defense contractors in the United States. It was established in 1922, and by 2012, it had grown to become the largest manufacturer of guided missiles worldwide. Technically, this business is no longer a separate entity as it recently merged with United Technologies. Raytheon Company and United Technologies merged to form Raytheon Technologies in 2020. Nevertheless, according to the most recent data available, Raytheon had the seventh-highest revenue among all aircraft carriers. The business is still a major force in this market.
- United Technologies
United Technologies, with its headquarters in Farmington, Connecticut, has been a significant player in the aircraft manufacturing industry since the 1930s. Originally known as United Aircraft Corporation, it changed its name to United Technologies in the 1970s to reflect its expansion of services beyond the aerospace industry and preference for civilian business over the military. United Technologies is one of the most diverse firms on our list thanks to the dozens of acquisitions it has made since its founding in industries including refrigeration, elevators, security, and more. With a staggering $789,561 in political donations during the 2004 election cycle, UTC is likewise widely recognized for its political giving.
