La empresa Boeing (BA): Lienzo del modelo de negocio [Actualizado en enero de 2025]

Boeing, un titán aeroespacial global, transforma los complejos desafíos de ingeniería en soluciones de transporte revolucionarias que abarcan aviación comercial, defensa militar y exploración espacial. Al crear meticulosamente un sofisticado lienzo de modelo de negocio, la compañía integra estratégicamente tecnología de vanguardia, asociaciones estratégicas y propuestas de valor innovadoras para dominar múltiples segmentos de mercado de alto riesgo. Desde el diseño de aviones de próxima generación hasta desarrollar sistemas de defensa avanzados, el enfoque integral de Boeing demuestra cómo una corporación multinacional puede atender a diversas necesidades de los clientes mientras mantiene la superioridad tecnológica y la excelencia operativa.

The Boeing Company (BA) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con grandes proveedores aeroespaciales

Boeing mantiene asociaciones estratégicas críticas con proveedores aeroespaciales clave:

Proveedor	Detalles de la asociación	Valor anual del contrato
Aerosistemas de espíritu	Fuselaje y fabricación de componentes de aeronaves	$ 3.2 mil millones (2023)
Honeywell International	Aviónica y tecnología aeroespacial	$ 1.7 mil millones (2023)
Aviación GE	Desarrollo y fabricación del motor	$ 4.5 mil millones (2023)

Empresas conjuntas con fabricantes aeroespaciales internacionales

• United Aircraft Corporation (Rusia) - Desarrollo de aeronaves comerciales
• Corporación de aviones comerciales de China (Comac) - Fabricación colaborativa
• Mitsubishi Heavy Industries (Japón) - Intercambio de tecnología aeroespacial

Asociaciones de investigación colaborativa

Socio de investigación	Enfoque de investigación	Inversión anual
NASA	Tecnologías aeroespaciales avanzadas	$ 287 millones (2023)
Ministerio de defensa	Sistemas de defensa y aviones militares	$ 6.2 mil millones (2023)

Asociaciones tecnológicas

Asociaciones globales de defensa y tecnología de aviación comercial:

• Lockheed Martin - Integración de tecnología de defensa
• Northrop Grumman - Sistemas satelitales y de defensa
• Raytheon Technologies - Advanced Defense Electronics

Valor de la cartera de asociación total: $ 15.9 mil millones (2023)

The Boeing Company (BA) - Modelo de negocio: actividades clave

Diseño y fabricación de aviones

Boeing produjo 37 aviones comerciales en enero de 2024. El objetivo de producción anual para 2024 es 400-500 aeronaves comerciales. Instalaciones de fabricación ubicadas en:

• Everett, Washington
• Charleston, Carolina del Sur
• San Luis, Missouri

Tipo de aeronave	Estimación de producción 2024	Ingresos estimados por unidad
Boeing 737 Max	215 unidades	$ 106.1 millones
Boeing 787 Dreamliner	80 unidades	$ 248.6 millones

Investigación y desarrollo aeroespacial

Inversión en I + D para 2024: $ 3.9 mil millones. Las áreas de enfoque incluyen:

• Tecnologías de propulsión avanzadas
• Combustibles de aviación sostenibles
• Sistemas de aeronaves eléctricas e hidrógeno

Ingeniería de sistemas de defensa militar

Valor del contrato de defensa para 2024: $ 26.4 mil millones. Los programas de defensa clave incluyen:

• Actualizaciones de avión de combate F-15
• Modificaciones del helicóptero Apache
• Sistemas de lanzamiento espacial

Servicios de mantenimiento de aeronaves comerciales y militares

Proyección de ingresos del servicio global para 2024: $ 18.6 mil millones. Vestidos de red de servicio:

Región	Centros de servicio	Ingresos de servicio estimados
América del norte	42 centros	$ 8.2 mil millones
Asia-Pacífico	27 centros	$ 5.7 mil millones

Desarrollo de tecnología satelital y espacial

Inversión de tecnología espacial para 2024: $ 2.1 mil millones. Grandes programas espaciales:

• Programa de la tripulación comercial de la NASA
• Sistemas de comunicación por satélite
• Tecnologías de defensa antimisiles

The Boeing Company (BA) - Modelo de negocio: recursos clave

Capacidades avanzadas de ingeniería y diseño

Boeing invirtió $ 2.4 mil millones en investigación y desarrollo en 2023. La fuerza laboral de ingeniería comprende 49,139 profesionales técnicos a partir del cuarto trimestre de 2023.

Categoría de ingeniería	Número de profesionales
Ingenieros aeroespaciales	22,567
Ingenieros de software	8,345
Ingenieros mecánicos	12,456
Científicos de materiales	5,771

Extensas instalaciones de fabricación global

Boeing opera 80 instalaciones de fabricación en 17 países. La huella de fabricación total abarca 6.4 millones de metros cuadrados.

• Ubicaciones de fabricación primaria en Estados Unidos
• Instalaciones en el estado de Washington
• Complejo de fabricación de Missouri
• Sitio de producción de Carolina del Sur

Fuerza laboral de ingeniería aeroespacial altamente calificada

Métrica de la fuerza laboral	2023 datos
Total de empleados	156,000
Titulares de grado avanzado	38,500
Experiencia de ingeniería promedio	12.7 años

Tecnologías y patentes aeroespaciales patentadas

Boeing posee 7,285 patentes activas a partir de 2023. Cartera de tecnología valorada en aproximadamente $ 3.6 mil millones.

• Materiales compuestos avanzados
• Tecnología de sistemas autónomos
• Plataformas de comunicación satelital
• Innovaciones de propulsión aeroespacial

Capital financiero y reservas de inversión sustanciales

Métrica financiera	Valor 2023
Reservas de efectivo totales	$ 13.7 mil millones
Activos totales	$ 153.4 mil millones
Gastos de capital anuales	$ 1.9 mil millones
Inversión de investigación	$ 2.4 mil millones

The Boeing Company (BA) - Modelo de negocio: propuestas de valor

Soluciones de tecnología aeroespacial avanzada

Boeing generó $ 66.6 mil millones en ingresos para 2023, con soluciones tecnológicas en múltiples sectores aeroespaciales.

Segmento tecnológico	Contribución de ingresos
Tecnología de aviones comerciales	$ 35.4 mil millones
Sistemas de tecnología de defensa	$ 22.8 mil millones
Espacio & Tecnología satelital	$ 8.4 mil millones

Aviones comerciales y militares de alto rendimiento

Boeing entregó 396 aviones comerciales en 2023, manteniendo el liderazgo del mercado global.

• 737 Serie Max: 223 aviones entregados
• 787 Dreamliner: 72 aviones entregados
• Serie 777: 45 aviones entregados
• Aeronave militar: 56 plataformas de defensa especializadas

Sistemas integrales de defensa y exploración espacial

El segmento de defensa y espacio generó $ 26.3 mil millones en ingresos de 2023.

Plataforma de defensa	Valor anual del contrato
Avión militar	$ 12.5 mil millones
Sistemas de exploración espacial	$ 8.9 mil millones
Tecnologías satelitales	$ 4.9 mil millones

Ingeniería innovadora de transporte y tecnología

Boeing invirtió $ 2.6 mil millones en investigación y desarrollo durante 2023.

• Investigación de sistemas autónomos
• Tecnologías de propulsión eléctrica
• Ingeniería de materiales avanzados
• Integración de inteligencia artificial

Productos aeroespaciales confiables y tecnológicamente superiores

Boeing mantiene una flota global de más de 10,000 aviones comerciales en servicio en todo el mundo.

Métricas de confiabilidad del producto	Indicador de rendimiento
Confiabilidad de envío de aeronaves comerciales	99.2%
Preparación operativa de plataforma militar	97.5%
Tasa de éxito de la misión espacial	98.7%

The Boeing Company (BA) - Modelo de negocios: relaciones con los clientes

Contratos a largo plazo con aerolíneas y agencias de defensa

Boeing mantiene más de 5,000 contratos de aeronaves comerciales en todo el mundo a partir de 2024. Contratos de defensa valorados en $ 26.9 mil millones en el año fiscal 2023.

Tipo de contrato	Número de contratos	Valor total del contrato
Avión comercial	5,052	$ 389.1 mil millones
Contratos de defensa	237	$ 26.9 mil millones

Servicios dedicados de atención al cliente y mantenimiento

Boeing opera 74 centros globales de mantenimiento y soporte con 12,500 personal de soporte técnico.

• Duración promedio del contrato de mantenimiento de aeronaves: 15 años
• Ingresos del servicio de mantenimiento anual: $ 8.3 mil millones
• Disponibilidad de soporte técnico 24/7 en 42 países

Diseño de aeronaves y soluciones de ingeniería personalizadas

Boeing proporciona Soluciones de ingeniería personalizadas Para 87 clientes de aerolíneas globales.

Segmento de clientes	Nivel de personalización	Inversión de ingeniería anual
Aerolíneas comerciales	Alto	$ 4.2 mil millones
Agencias militares	Especializado	$ 3.7 mil millones

Consulta técnica y participación continua del cliente

Boeing realiza 1.248 sesiones de consulta técnica anualmente con clientes globales.

• Duración de consulta promedio: 3.5 días
• Tasa de satisfacción del cliente: 94.6%
• Contratos de consulta recurrentes: 76%

Red global de atención al cliente

Boeing mantiene la presencia de atención al cliente en 150 países con 23 sedes regionales.

Región	Centros de apoyo	Presupuesto de apoyo anual
América del norte	38	$ 5.6 mil millones
Europa	22	$ 3.9 mil millones
Asia-Pacífico	29	$ 4.2 mil millones

The Boeing Company (BA) - Modelo de negocios: canales

Equipos de ventas directos para mercados comerciales y de defensa

Boeing mantiene 161,892 empleados totales a partir de 2023, con equipos de ventas dedicados en segmentos comerciales y de defensa. El equipo de ventas de aviones comerciales de la compañía generó $ 66.6 mil millones en ingresos en 2022.

Canal de ventas	Número de representantes	Contribución anual de ingresos
Venta de aviones comerciales	578	$ 66.6 mil millones
Equipo de ventas de defensa	412	$ 26.4 mil millones

Ferias y exposiciones internacionales aeroespaciales

Boeing participa en eventos aeroespaciales globales clave, con una inversión de marketing anual de $ 124 millones en canales de exhibición y exhibición.

• París Air Show
• Farnborough International Airshow
• Dubai Airshow
• Singapur Airshow

Plataformas técnicas en línea y comunicación digital

Los canales digitales de Boeing incluyen una plataforma en línea integral con 3.2 millones de visitantes de sitios web únicos mensuales y de marketing digital de $ 47.3 millones en 2022.

Canal digital	Compromiso mensual	Presupuesto anual de marketing digital
Sitio web corporativo	3.2 millones de visitantes	$ 47.3 millones
Seguidores de LinkedIn	1.4 millones	N / A

Redes de asociación estratégica

Boeing mantiene asociaciones con 14,000 proveedores mundiales y colaboradores estratégicos, que representan $ 35.8 mil millones en gastos anuales de adquisiciones.

• Proveedores aeroespaciales de nivel 1
• Asociaciones internacionales del gobierno
• Colaboradores de investigación y desarrollo

Canales especializados de comercialización de la industria aeroespacial

Boeing aprovecha los canales de comercialización de la industria especializados con un presupuesto anual de marketing de $ 276 millones en varios segmentos aeroespaciales.

Canal de marketing	Inversión anual	Segmento objetivo
Publicaciones de la industria	$ 42.5 millones	Aviación comercial
Eventos de la industria de defensa	$ 89.3 millones	Militar y gobierno
Conferencias técnicas	$ 34.2 millones	Investigación e innovación

The Boeing Company (BA) - Modelo de negocio: segmentos de clientes

Aerolíneas comerciales en todo el mundo

Boeing sirve a 291 clientes de aerolíneas comerciales a nivel mundial a partir de 2023. Los principales clientes de la aerolínea incluyen:

Aerolínea	Número de aviones Boeing	Valor total de la flota
United Airlines	448 aviones Boeing	$ 42.3 mil millones
American Airlines	392 aviones boeing	$ 38.7 mil millones
Southwest Airlines	734 aviones boeing	$ 36.5 mil millones

Organizaciones militares y de defensa globales

El segmento de defensa de Boeing sirve a 58 países con contratos militares.

• Valor del Contrato del Departamento de Defensa de los Estados Unidos: $ 23.8 mil millones en 2022
• Ventas militares internacionales: $ 12.4 mil millones anuales
• Plataformas de aeronaves militares activas: 27 modelos diferentes

Agencias de exploración espacial gubernamental

Agencia	Valor de contrato	Programas activos
NASA	$ 4.6 mil millones	Starliner, sistema de lanzamiento espacial
Agencia Espacial Europea	$ 1.2 mil millones	Desarrollo satelital

Empresas privadas aeroespaciales y de tecnología

Boeing colabora con 127 empresas aeroespaciales privadas en todo el mundo.

• Asociaciones de espacio comercial: 42 acuerdos activos
• Contratos de transferencia de tecnología: 86 proyectos en curso
• Inversión total de asociación: $ 3.7 mil millones

Empresas internacionales de transporte y logística

Boeing atiende a 213 compañías globales de logística y transporte.

Segmento	Número de clientes	Ingresos anuales
Aerolíneas de carga	94 clientes	$ 8.6 mil millones
Logística de flete	119 clientes	$ 5.3 mil millones

The Boeing Company (BA) - Modelo de negocio: Estructura de costos

Altos gastos de investigación y desarrollo

Los gastos de I + D de Boeing para 2023 fueron de $ 3.1 mil millones, lo que representa una inversión significativa en innovación tecnológica y desarrollo de productos.

Año	Gasto de I + D
2022	$ 2.9 mil millones
2023	$ 3.1 mil millones

Costos extensos de fabricación y producción

Los costos de fabricación para Boeing en 2023 totalizaron aproximadamente $ 66.6 mil millones, cubriendo la producción de aviones y los gastos relacionados.

• Costos de producción de segmentos de aviones comerciales: $ 45.2 mil millones
• Defensa, espacio & Costos de producción del segmento de seguridad: $ 21.4 mil millones

Gestión de la cadena de suministro compleja

Boeing administra una cadena de suministro global que involucra a más de 12,000 proveedores en 50 países, con los gastos anuales de gestión de la cadena de suministro estimados en $ 1.5 mil millones.

Inversiones de la fuerza laboral y el talento de ingeniería

La compensación total de la fuerza laboral para 2023 fue de $ 25.3 mil millones, que cubrió aproximadamente 156,000 empleados.

Categoría de empleado	Compensación anual promedio	Número de empleados
Profesionales de ingeniería	$135,000	38,500
Trabajadores manufactureros	$85,000	68,000

Infraestructura tecnológica y gastos de mantenimiento

Los costos de infraestructura y mantenimiento de tecnología para 2023 fueron de $ 1.8 mil millones, incluidas la transformación digital y las inversiones de ciberseguridad.

• Investmentos de infraestructura de TI: $ 750 millones
• Gastos de ciberseguridad: $ 350 millones
• Iniciativas de transformación digital: $ 700 millones

The Boeing Company (BA) - Modelo de negocios: flujos de ingresos

Venta de aviones comerciales

Las ventas de aviones comerciales de Boeing en 2023 totalizaron $ 33.8 mil millones. Números de entrega de aeronaves específicos:

Modelo de aeronave	Unidades entregadas en 2023	Ingresos generados
Boeing 737	504 unidades	$ 12.4 mil millones
Boeing 787 Dreamliner	72 unidades	$ 8.6 mil millones
Boeing 777	36 unidades	$ 5.9 mil millones

Ingresos del contrato militar y de defensa

Los ingresos totales del contrato de defensa en 2023 alcanzaron los $ 26.5 mil millones.

• Contratos del Departamento de Defensa de los Estados Unidos: $ 18.2 mil millones
• Ventas militares internacionales: $ 8.3 mil millones

Licencias de tecnología aeroespacial

Ingresos de licencia de tecnología aeroespacial en 2023: $ 1.2 mil millones

Categoría de licencias	Ganancia
Licencias de tecnología comercial	$ 650 millones
Licencias de tecnología de defensa	$ 550 millones

Tarifas de servicio de mantenimiento y soporte

Ingresos de servicio total de mantenimiento y soporte en 2023: $ 15.7 mil millones

• Mantenimiento de aeronaves comerciales: $ 9.3 mil millones
• Apoyo de aeronaves militares: $ 6.4 mil millones

Contratos de tecnología espacial y satelital

Ingresos del contrato de tecnología espacial y satelital en 2023: $ 5.6 mil millones

Tipo de contrato	Ganancia
Contratos de la NASA	$ 3.2 mil millones
Contratos satelitales comerciales	$ 2.4 mil millones

The Boeing Company (BA) - Canvas Business Model: Value Propositions

The Boeing Company offers value through its established product lines and recovering operational performance, underpinned by a massive order book representing future revenue visibility.

High-capacity, fuel-efficient commercial jetliners (e.g., 787 Dreamliner).

The value proposition here is tied directly to production ramp-up and the sheer volume of future deliveries represented by the order book. The 787 platform is a key focus, with production rates increasing to meet strong demand.

Metric	Program/Variant	Value/Rate (as of late 2025)
Current Production Rate	787 Dreamliner	7 per month
Near-Term Production Target	787 Dreamliner	Aiming for 8 per month by year-end 2025 or early 2026
Long-Term Production Study	787 Dreamliner	Studying a potential rate of up to 16 per month
Total Unfulfilled Backlog	Commercial Airplanes	Approximately $535 billion
Total Orders to Date	787 Platform	2,277 orders
Total Deliveries to Date	787 Platform	1,229 as of October 2025
Next Major Delivery Timeline	777X	First delivery anticipated in 2027

Advanced, mission-critical defense and security systems for governments.

This segment provides value through securing national security contracts and delivering key military platforms. The backlog provides significant revenue assurance.

Metric	Program/Activity	Value/Volume (as of late 2025)
Defense, Space & Security Backlog	Total BDS Segment	$76 billion as of Q3 2025
Q3 2025 Revenue	Defense, Space & Security (BDS)	$6.9 billion
Year-over-Year Revenue Growth	BDS (Q3 2025 vs Q3 2024)	25 percent increase
Major Contract Win	U.S. Space Force Satellite Comms	$2.8 billion contract
Multi-Year Contract Value	PAC-3 Seekers Production	$2.7 billion
Key Platform Milestone	KC-46 Tanker Deliveries	100th tanker delivered across all customers

Comprehensive lifecycle support and digital services for fleet management.

Global Services offers steady, high-margin revenue streams by supporting the installed fleet, including maintenance and digital offerings.

Metric	Service/Segment	Value/Rate (as of late 2025)
Q3 2025 Revenue	Global Services (BGS)	$5.4 billion
Q2 2025 Revenue	Global Services (BGS)	$5.3 billion or $5.28 billion
Q3 2025 Operating Margin	Global Services (BGS)	17.5 percent
Segment Backlog Value	Global Services	$25 billion
Recent Contract Example	U.S. Navy F/A-18 Support	Award for repair of landing gear and outer wing panels

Operational reliability and safety improvements following recent challenges.

The value proposition includes a commitment to regaining operational stability, evidenced by regulatory approvals for production rate increases.

• 737 production stabilized at 38 per month in Q3 2025.
• FAA agreement in October 2025 to increase 737 production to 42 per month.
• The company is positioning the 737 program for a credible ramp to 52 per month by 2026.
• Commercial Airplanes delivered 160 airplanes in Q3 2025, the highest quarterly total since 2018.
• The 787 platform is performing well, operating at seven per month.

Long-term, high-value customer financing and leasing support.

The massive order backlog itself represents the long-term commitment from customers for future aircraft acquisition, which is supported by the company's financial structure.

The total company backlog, reflecting long-term commitments across all segments, stood at $636 billion at the end of Q3 2025. This figure gives you a clear view of contracted future revenue.

The Boeing Company (BA) - Canvas Business Model: Customer Relationships

The Boeing Company (BA) maintains deep, multi-decade commitments with its primary customer base, which is highly concentrated in the commercial airline sector and the US government/defense apparatus.

Dedicated, long-term B2B relationships with major global airlines.

The relationship with major global airlines is characterized by massive, multi-year commitments, often spanning decades for fleet planning and sustainment. The total company backlog as of the third quarter of 2025 stood at an impressive $636 billion. This backlog is heavily weighted toward commercial airplanes, with over 5,900 commercial aircraft valued at $535 billion at the end of Q3 2025. As of October 31, 2025, total unfilled orders before ASC 606 adjustments were 6,527 aircraft.

Key customer engagements in 2025 demonstrate this long-term focus:

• Qatar Airways placed an order in May 2025 for up to 210 widebody jets, including 130 787 Dreamliners and 30 777X airplanes, valued at $96 billion.
• Turkish Airlines announced a firm order in September 2025 for up to 75 Boeing 787 Dreamliners and up to 150 more 737 MAX airplanes.
• Norwegian Group ordered 30 Boeing 737-8 airplanes in September 2025, marking its first direct purchase since 2017.
• Major US customers like United Airlines and American Airlines continue to take deliveries, with Ryanair also being a significant recipient of the 737 MAX family.

The commercial backlog, as of October 31, 2025, shows the concentration in key models:

Aircraft Family	Remaining Orders (as of Oct 31, 2025)	Percentage of Adjusted Backlog
737 MAX (Excluding legacy variants)	4,775	73.2%
787 Family	1,048	N/A
777X Family	622	N/A

High-touch, consultative sales for large commercial and defense contracts.

Sales for large defense platforms and widebody commercial orders involve intensive, consultative engagement. The company's Q3 2025 revenue reached $23.3 billion, reflecting higher commercial delivery volume. The Global Services segment, critical for long-term support revenue, posted $5.3 billion in revenue for the second quarter of 2025. The TTM revenue ending September 30, 2025, was $80.757 billion.

Direct engagement with government procurement agencies (DoD, NASA).

Direct engagement with the US Department of Defense (DoD) and other government bodies drives significant, high-value, long-term contracts. The Defense, Space & Security segment generated $6.62 billion in revenue in Q2 2025. Recent contract awards highlight this direct relationship:

• A firm-fixed-price contract in November 2025 for 96 AH-64E Apache attack helicopters for Poland, awarded via the U.S. Army, was valued at nearly $4.7 billion.
• A July 2025 contract for Evolved Strategic Satellite (ESS) communications development and production, covering four ESS space vehicles, was worth $2,838,537,105.
• A November 2025 modification for KC-46A Pegasus tankers was valued at $2.47 billion for 15 additional units for the US Air Force.
• A modification in September 2025 for Global SATCOM brought the total contract value to $3.14 billion.

Customer-specific support teams for in-service fleet sustainment.

Sustainment is managed through dedicated teams, primarily under Global Services, supporting a fleet that is still heavily comprised of older models. Nearly one-third of the current commercial fleet is older than 20 years, driving renewal and support needs. The Apache helicopter fleet alone has over 1,300 aircraft operating worldwide, with sustainment provided by Boeing Global Services. The company is focused on stabilizing production to meet delivery schedules, which directly impacts customer satisfaction for in-service support planning. The 737 production rate stabilized at 38 per month in Q3 2025, with an agreement in October 2025 to increase to 42 per month.

Building trust through defintely improved safety and quality focus.

Rebuilding trust after significant safety incidents in prior years is a core relationship focus. The company reported a GAAP loss per share of ($0.92) in Q2 2025, an improvement of 60.5% from Q2 2024, and narrowed its net loss to $612 million in Q2 2025. The CEO stated in July 2025 that fundamental changes to strengthen safety and quality are producing improved results. The FAA jointly agreed in October 2025 to increase the 737 production rate to 42 per month, signaling regulatory confidence in the improved quality control processes. The company also recorded a pre-tax earnings charge of $4.9 billion in Q3 2025 related to updated 777X certification timing, which is a direct consequence of rigorous, safety-driven certification processes impacting customer delivery schedules.

The Boeing Company (BA) - Canvas Business Model: Channels

Direct sales force for commercial aircraft and defense systems is the primary route for large capital asset transactions.

For Commercial Airplanes, The Boeing Company delivered 160 airplanes in the third quarter of 2025, with revenue for that segment reaching $11.1 billion in the third quarter of 2025.

The 737 program stabilized production at 38 per month in the third quarter of 2025, jointly agreed with the Federal Aviation Administration in October to increase to 42 per month.

Boeing Global Services (BGS) uses its own channels for parts, training, and maintenance contracts, showing consistent profitability.

Boeing Global Services third quarter 2025 revenue was $5.4 billion, driven by higher volume, with an operating margin of 17.5 percent in that quarter.

In the second quarter of 2025, Boeing Global Services revenue was $5.3 billion, achieving an operating margin of 19.9 percent.

Government contracting processes are the exclusive channel for defense and space programs, managed through direct negotiation and competitive bidding with government entities.

The Defense, Space & Security segment secured a contract from the U.S. Space Force to enhance strategic satellite communication capabilities in the third quarter of 2025.

Specific defense contract awards in late 2025 include a total of more than $7.15 billion for the U.S. Army (Apache AH-64E helicopters) and Air Force (Lot 12 Production Aircraft and systems).

The U.S. Space Force awarded The Boeing Company an eight-year $2.8 billion contract to develop four jam-resistant satellites under the Evolved Strategic Satellites program.

The Defense, Space & Security segment backlog grew to $76 billion as of the third quarter of 2025.

The scale of revenue generation through these primary channels in the third quarter of 2025 was:

Channel/Segment	Latest Reported Revenue (Q3 2025)	Latest Reported Operating Margin	Key Activity/Metric
Commercial Airplanes (Direct Sales)	$11.1 billion	(Not specified for Q3 2025)	160 deliveries (Q3 2025)
Boeing Global Services (BGS)	$5.4 billion	17.5 percent	Secured award from U.S. Navy for F/A-18 repair
Defense, Space & Security (Government Contracts)	$6.9 billion	1.7 percent	Backlog of $76 billion (Q3 2025)

Licensing of Intellectual Property and technical data to partners is a channel, though specific associated revenue figures are not detailed in the latest segment reporting.

The total company backlog at the end of the third quarter of 2025 stood at $636 billion, including over 5,900 commercial airplanes.

The Boeing Company (BA) - Canvas Business Model: Customer Segments

You're looking at the core buyers for The Boeing Company's massive output, which is definitely not a single-market play. It's a B2B operation split between the skies and beyond the atmosphere.

Major global commercial airlines (legacy, low-cost, cargo carriers)

This segment drives the volume, focusing on fleet modernization and efficiency. The demand outlook remains high, with The Boeing Company's 2025 Commercial Market Outlook forecasting a need for 43,600 new commercial aircraft through 2044. So far in 2025, The Boeing Company delivered 440 aircraft through September 30th, with Q3 2025 being the highest quarterly total since 2018, delivering 160 airplanes that quarter. The total company backlog, as of the end of Q3 2025, stood at $636 billion. The Commercial Airplanes segment backlog alone was valued at $535 billion, comprising over 5,900 airplanes. This backlog represents approximately 11.1 years of work based on 2025 production estimates. You see major deals shaping this segment; for instance, in May 2025, Qatar Airways committed to 210 aircraft, including 146 737 MAX jets and 57 787 Dreamliners. Also in Q3 2025, Commercial Airplanes booked 161 net orders, including 50 787 airplanes for Turkish Airlines and 30 737-8 airplanes for Norwegian Group.

Here's a look at the order book status as of late 2025:

Metric	Value (As of late 2025)
Total Unfilled Orders (Before ASC 606)	6,576 aircraft (as of Sep 30, 2025)
737 MAX Aircraft in Unfilled Orders (Subset)	4,814 aircraft (as of Sep 30, 2025)
Percentage of Subset that are 737 MAXs	73.2 percent
Total Company Backlog Value	$636 billion (as of Q3 2025)
Commercial Airplanes Segment Backlog Value	$535 billion (as of Q3 2025)
Estimated Years of Production in Backlog	Approximately 11.1 years

US and international government agencies (Defense, Space, Security)

The Boeing Defense, Space & Security (BDS) division serves government entities, where purchasing cycles align with multi-year budget allocations. The company ranked as the fifth-largest US defense company in 2024, with defense revenues exceeding $31 billion that year. The BDS backlog was reported at $76 billion, supported by strong contract wins, including $9 billion secured in the third quarter of 2025. You can see the immediate impact of these government customers in recent contract awards.

Recent major contract awards to The Boeing Company's defense arm:

• Total value of two U.S. military contracts announced in late November 2025: over $7.15 billion.
• Firm-fixed-price contract for U.S. Army Apache AH-64E attack helicopters: $4.68 billion.
• Foreign military sales portion of the Army contract for Poland, Egypt, and Kuwait: over $2.2 billion.
• U.S. Air Force contract modification for Lot 12 Production Aircraft (KC-46 Pegasus tankers): $2.4 billion to $2.47 billion.
• Contract for F/A-18 cockpit system repairs awarded in December 2025: $104.4 million.

Aircraft leasing companies and financial institutions

These entities act as crucial intermediaries, financing the acquisition of new and converted aircraft for airline operators. For example, Dubai Aerospace Enterprise (DAE) has commitments for 236 Boeing aircraft, with 119 of those being from the 737 MAX family. Financing for deliveries in Latin America during the first half of 2025 concentrated on sale-leasebacks (SLB) and Japanese Operating Leases with Call Option (JOLCO). Also, AerCap Holdings N.V. delivered the first of three Boeing 777-300ERSF converted aircraft to Fly Meta Leasing on November 21, 2025. The 777-300ERSF received FAA and CAAI certification on August 31, 2025.

Space exploration and satellite operators

This specialized group within BDS focuses on high-technology systems. The Boeing Company remains a prominent integrator in the International Space Station. The BDS segment's portfolio includes satellite systems and space exploration products, which contribute to the overall BDS backlog of $76 billion as of Q3 2025. The segment's revenue growth year-over-year was 25 percent, supported by this broad portfolio.

Segment Revenue Comparison (Three Months Ended March 31, 2025):

Segment	Revenues (Millions USD)	Segment Operating Earnings/(Loss) (Millions USD)
Commercial Airplanes (BCA)	$26,360	($1,143)
Defense, Space, & Security (BDS)	$23,270	$151
Global Services (BGS)	$19,970	$916

Finance: draft 13-week cash view by Friday.

The Boeing Company (BA) - Canvas Business Model: Cost Structure

You're looking at the sheer scale of investment The Boeing Company must maintain to keep its production lines moving and its product pipeline funded. The cost structure is dominated by long-term, high-commitment spending.

High fixed costs from massive manufacturing infrastructure and tooling.

The physical footprint and specialized machinery required for commercial and defense aerospace production represent a massive fixed cost base. While specific fixed cost breakdowns aren't always isolated, the scale of the operation is evident in the asset base and production targets. The total assets of The Boeing Company stood at approximately $142.720 billion as of December 31, 2024.

The commitment to increasing output drives significant capital deployment:

• 787 Dreamliner production rate planned to increase to seven per month in 2025.
• 737 MAX production rate increasing to 42 aircraft per month.

Significant R&D and capital expenditure for new programs.

Research and Development (R&D) spending reflects the ongoing need to develop next-generation aircraft and defense systems. For the twelve months ending September 30, 2025, The Boeing Company's R&D expenses were $3.487 billion. This follows a fiscal year 2024 R&D expense of $3.812 billion.

Capital expenditure (CapEx) is also a major outlay, reflecting investment in property, plant, and equipment. For the three months ended March 31, 2025, capital expenditures were $0.7 billion, up from $0.6 billion for the same period in 2024. The company expected 2025 CapEx to be higher than 2024 levels.

Program charges, including a 777X pre-tax charge of $4.9 billion.

Development delays result in significant accounting charges that hit the income statement. In the third quarter of 2025, The Boeing Company took a pre-tax charge of $4.9 billion tied to the continued delay of the 777X program, pushing first delivery to 2027. This specific charge increased the loss per share by $6.45 for that quarter. With this latest event, the total accumulated charges on the 777X program reached $15.9 billion.

The magnitude of program-related costs can be seen in the table below, contrasting the Q3 2025 charge with prior program losses:

Program Cost Item	Amount (Billions USD)	Period/Date
Latest 777X Pre-tax Charge	$4.9	Q3 2025
Total Accumulated 777X Charges (as of Q3 2025)	$15.9	As of Q3 2025
777X Reach-forward Loss (2024)	$3.4	Fiscal Year 2024
777X Abnormal Production Costs (2023)	$0.513	Fiscal Year 2023

High variable costs for raw materials, components, and labor.

Variable costs scale with production volume. Total costs and expenses for The Boeing Company for the three months ended June 30, 2024, were $30,330 million. Labor costs are a significant component, especially given the recent contract agreement with machinists in November 2024. The company's total backlog, representing future revenue from which these costs will be covered, stood at $636 billion as of the Q3 2025 report.

Costs associated with quality control and regulatory compliance improvements.

Addressing quality issues and meeting heightened regulatory scrutiny requires substantial, often unbudgeted, spending. This is embedded within operating expenses and program charges. For instance, the company is still working on a solution for an engine anti-ice issue on the 737 MAX 7 and 10 variants, which requires hardware and software modifications to test aircraft. The Defense, Space & Security (BDS) segment noted the high degree of auditor judgment required for estimates on fixed-price development contracts like the KC-46A Tanker and T-7A Redhawk due to operational and technical complexities.

The cost structure is heavily influenced by these non-recurring and compliance-driven expenditures:

• Increased production rates require significant supply chain and labor management, directly impacting variable costs.
• The need to regain trust with regulators and customers drives spending on internal process improvements.
• The company is working to stabilize its production system and supply chain to manage these variable cost pressures.

The Boeing Company (BA) - Canvas Business Model: Revenue Streams

You're looking at the core ways The Boeing Company brings in cash, which is heavily weighted toward large, infrequent transactions from governments and airlines. Honestly, the sheer size of the order book tells you most of the story about future revenue visibility.

The largest single component remains the sale of new aircraft. This is the headline number that drives market sentiment, even if the cash doesn't hit the bank immediately. The Commercial Airplanes division has a massive order book supporting future deliveries.

• Commercial Airplanes sales backlog valued at over $535 billion.
• Total company backlog stood at $636 billion at the end of Q3 2025.
• This backlog represents commitments for over 5,900 commercial airplanes.

The Defense, Space & Security (BDS) segment provides a more stable, though often lower-margin, revenue base tied to multi-year government contracts. This acts as a crucial ballast when commercial sales fluctuate. You see clear contract wins driving this segment's value.

Here's a quick look at the segment revenue and backlog as of Q3 2025, based on recent reporting:

Revenue Stream Component	Q3 2025 Revenue (Millions USD)	Backlog Value (Billions USD)
Commercial Airplanes	$11,094	$535
Defense, Space & Security (BDS)	$6,902	$74
Global Services (BGS)	$5,370	N/A

Global Services (BGS) is the high-margin segment you want to watch for consistent cash generation. This revenue comes from the existing fleet worldwide, meaning it's less susceptible to the multi-year sales cycle of new jets. Think parts, maintenance, repair, and overhaul (MRO), plus training services.

• Global Services third quarter revenue was $5.4 billion (rounded from $5,370 million).
• This segment delivered an operating margin of 17.5 percent in the quarter.
• Revenue growth was driven by higher commercial and government volume.

Finally, you can't ignore the cash flow timing from these massive, multi-year contracts. The Boeing Company collects money long before the final delivery, which is critical for funding the production ramp-up. These are the advance payments and progress payments you see on the balance sheet.

Looking at the Q3 2025 cash flow statement, the movement in customer prepayments was significant:

For the three months ended September 30, 2025, the change in Advances and progress billings resulted in a net cash outflow (use) of $2.065 billion (or $2,065 million). This reflects the company using cash received previously to fund current production costs, which is normal given the delivery pace.

To put the top-line performance in context, the total Q3 2025 revenue reached $23.3 billion, primarily driven by the delivery of 160 commercial airplanes in that period. Finance: draft 13-week cash view by Friday.