Who Are the Major Airplane Manufacturing Companies?

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Updated January 22, 2024
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The airline industry is highly competitive but the competition among aircraft suppliers is relatively limited. Lesser-known makers of large passenger airplanes are attempting to build a more significant presence on the world's stage but there are just two major players in the large commercial aircraft market: the U.S.-based Boeing (BA) and the Airbus Group (EADSY), formerly known as the European Aeronautic Defense and Space Company (EADS). 

Airbus is the world's top commercial airplane manufacturer based on airplanes delivered. Boeing is in second place because its deliveries stalled due to the grounding of certain aircraft, the COVID-19 pandemic, and issues concerning its 737-MAX aircraft.

Key Takeaways

  • The global airplane manufacturing market is valued at over $400 billion.
  • The world's major large passenger aircraft manufacturers are Boeing and Airbus.
  • Boeing's and Airbus's established jet brands are the 7-series and A-series respectively.
  • Up-and-coming large passenger airplane makers include Comac in China, Mitsubishi in Japan, and UAC in Russia.
  • Airbus takes the top spot as the largest airplane manufacturer in the world based on deliveries.

The Airplane Manufacturing Market

The airplane manufacturing market is part of the overall airline industry. The global market's estimated value was more than $424 billion in 2024 and is expected to grow to well more than half a trillion dollars by 2032. Companies in this market are involved in the manufacturing of airplanes and their components, including engines and propulsion systems.

Large Passenger Airplane Manufacturers

Boeing and Airbus are the major large passenger aircraft manufacturers. They're the only two with jets that can meet the demands of large-scale commercial operations, at least in the West.

The two companies share almost exclusive control of the worldwide airplane supply business for large commercial jets. Their established brands are Boeing's 7-series and Airbus's A-series. These aircraft include narrow-body aircraft, wide-body aircraft, and jumbo jets.

Regional and Other International Manufacturers

Bombardier, based in Canada, and Embraer, a Brazilian aircraft manufacturer, are leaders in the regional and business airplanes market. They both focus on smaller-sized jets.

Competition with Boeing and Airbus is brutal on a global scale but newer airline suppliers Comac in China, Mitsubishi in Japan, and UAC in Russia are working on a series of new wide-body jets in a joint venture. They hope to eventually become a legitimate competitor that can take on the dominance of Boeing and Airbus in the large-jet space.

Military Airplane Manufacturers

Boeing and Airbus have a significant market share in the supply of military aircraft, particularly in the U.S. Their competition in this market includes Lockheed Martin. Almost 40% of Boeing's revenues came from U.S. government contracts in 2023. Only about 18% of Airbus' revenues came from defense contracts in 2023.

Suppliers to Airplane Manufacturers

Aerospace suppliers are critical to the aircraft manufacturing ecosystem. They provide essential components, systems, and materials that are required to build an aircraft. This includes avionics, propulsion systems, landing gear, cabin interiors, and composite materials.

These suppliers range from large companies that produce major systems to smaller specialized firms. Aircraft manufacturers rely on these suppliers for the initial construction of aircraft and ongoing maintenance and replacement parts.

Raytheon Technologies Corporation (RTX) and General Electric (GE) are two major companies that manufacture airplane engines and other parts for industry operators. Rolls-Royce (RYCEY), Pratt & Whitney, and Honeywell (HON) also produce airplane jet and propeller engines.

Top Aircraft Manufacturers

These are some of the largest aircraft manufacturers in the world. All data is current as of Q1 2024.

Boeing (BA)

  • Headquarters: Chicago, Illinois, USA
  • Founded: 1916
  • Market Cap: $130 billion
  • Employees: 171,000
  • Products: Known for manufacturing a wide range of commercial jetliners, Boeing's product line includes the 737, 747, 767, 777, and 787 families of airplanes. The company also offers military aircraft, satellites, and other aerospace products and services.

Boeing was once the darling of the aircraft business but it's faced some critical challenges recently, most notably issues related to the safety of its aircraft. Incidents involving the 737-MAX's in-flight controls and aircraft doors detaching midflight have raised serious concerns. These issues have not only affected Boeing's reputation and financial stability but they also have wider implications for airline safety standards and consumer confidence in the industry.

Airbus (EADSY)

  • Headquarters: Leiden, Netherlands
  • Founded: 1970
  • Market Cap: $128.6 billion
  • Company Size: 134,000
  • Products: Airbus is known for its commercial aircraft, including the A220, A320, A330, A350, and A380 families. The company also produces military planes and helicopters and provides aerospace-related services.

Lockheed Martin (LMT)

  • Headquarters: Bethesda, Maryland
  • Founded: 1995 (from the merger of Lockheed Corporation and Martin Marietta)
  • Market Cap: $113.6 billion
  • Employees: 116,000
  • Products: While focused on defense and military aircraft, such as the F-16 and F-35 Lightning II, Lockheed Martin also engages in aeronautics, missiles, fire control, and space systems.

Embraer (ERJ)

  • Headquarters: São Paulo, Brazil
  • Founded: 1969
  • Market Cap: $3.2 billion
  • Employees: 18,000
  • Products: Embraer is known for its E-Jet and E-Jet E2 series of regional jets, popular among airlines for short to medium-haul flights.

Bombardier (BDRBF)

  • Headquarters: Montreal, Quebec, Canada
  • Founded: 1942
  • Market Cap: $3.7 billion
  • Employees: 15,000
  • Products: The company's aerospace division is known for its business jets, including the Challenger and Global series.

How Are New Aircraft Certified to Fly?

Aircraft certification is a rigorous and detailed process conducted by aviation authorities such as the FAA in the U.S. and the European Union Aviation Safety Agency (EASA) in Europe.

This process involves extensive testing and evaluation of the aircraft's design, construction, and performance to ensure it meets strict safety standards. It includes analysis of the airframe, engines, systems, and flight performance, with assessments of the aircraft's handling under various conditions.

How Do Market Dynamics Between Boeing and Airbus Influence the Airplane Manufacturing Industry?

The competition between Boeing and Airbus is legendary, driven by their high-stakes duopoly, the need to stay ahead in avionics and other changing technology, and the geopolitics around Boeing being a major American company and Airbus being a European consortium. These companies were emblems of what the U.S. and Europe could still produce as manufacturing for other goods had been moving out of Europe and the U.S. for decades.

Court battles, World Trade Organization complaints, and negotiations at the highest political levels for aircraft contracts mean more is at stake. Together, this duopoly's decisions on production rates, aircraft models, and what technology they will use set trends for the entire industry. They affect everything from airline fleet choices to what kind of technology pilots and regular consumers will find once on board.

How Did the COVID-19 Pandemic Impact Aircraft Manufacturers?

The COVID-19 pandemic significantly impacted the aircraft manufacturing industry. There was a drastic cut in demand for new aircraft because of the sudden decline in air travel. This led to production slowdowns, delays in aircraft deliveries, and financial challenges for manufacturers.

The industry has been adapting, however, by focusing on more flexible manufacturing processes, increasing cargo aircraft production because of the rise in e-commerce, and accelerating digital transformation to improve efficiency.

The Bottom Line

The airplane manufacturing market is valued at over $400 billion. It's a significant part of the global airline industry which is expected to grow considerably over the next decade.

Dominated by Boeing and Airbus, the major manufacturers of large commercial jets, this market is characterized by their iconic 7x7-series and A3xx-series jets. Suppliers including GE, Raytheon Technologies, and Rolls-Royce are pivotal in providing essential components like engines and avionics. The industry is adapting through flexible manufacturing and other changes while facing lingering challenges from the COVID-19 pandemic leading to reduced demand and production.

Boeing has encountered significant mechanical challenges with its 737-MAX and 787 models, affecting its position in the global market.

Correction - July 24, 2024: This article has been corrected to clarify that Boeing and Airbus are the major large passenger aircraft manufacturers among Western nations.

Article Sources
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  2. Yahoo! Finance. "Top 16 Aircraft Manufacturers in the World."

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  5. Raytheon Technologies. "United Technologies and Ratheon Complete Merger of Equals Transaction."

  6. Companies Market Cap. "Top Publicly Traded Aircraft Manufacturing Companies by Number of Employees."

  7. Economic Times. "Boeing’s Legacy Vanished Into Thin Air and Saving It Will Take Years."

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  9. Lockheed Martin. "Lockheed Martin."

  10. Embraer.com. "About Us."

  11. Federal Aviation Administration. "Airworthiness Certification."

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  13. McKinsey & Co. "Taking Stock of the Pandemic's Impact on Global Aviation."

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