The Boeing Company (BA): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A Boeing, um titã aeroespacial global, transforma desafios complexos de engenharia em soluções de transporte revolucionárias que abrangem a aviação comercial, defesa militar e exploração espacial. Ao criar meticulosamente uma sofisticada modelo de modelo de negócios, a empresa integra estrategicamente tecnologia de ponta, parcerias estratégicas e proposições inovadoras de valor para dominar vários segmentos de mercado de alto risco. Desde o design de aeronaves de próxima geração até o desenvolvimento de sistemas de defesa avançada, a abordagem abrangente da Boeing demonstra como uma corporação multinacional pode servir simultaneamente às diversas necessidades do cliente, mantendo a superioridade tecnológica e a excelência operacional.

The Boeing Company (BA) - Modelo de Negócios: Principais Parcerias

Alianças estratégicas com principais fornecedores aeroespaciais

A Boeing mantém parcerias estratégicas críticas com os principais fornecedores aeroespaciais:

Fornecedor	Detalhes da parceria	Valor anual do contrato
Aerossistemas Espirituais	FUSELAGE e FABRICAÇÃO DE COMNAÇÕES DE AVERCRAIA	US $ 3,2 bilhões (2023)
Honeywell International	Avônicos e tecnologia aeroespacial	US $ 1,7 bilhão (2023)
GE Aviation	Desenvolvimento e fabricação de motores	US $ 4,5 bilhões (2023)

Joint ventures com fabricantes aeroespaciais internacionais

• United Aircraft Corporation (Rússia) - Desenvolvimento de aeronaves comerciais
• Commercial Aircraft Corporation of China (COMAC) - Fabricação colaborativa
• Mitsubishi Heavy Industries (Japão) - Exissão de Tecnologia Aeroespacial

Parcerias de pesquisa colaborativa

Parceiro de pesquisa	Foco na pesquisa	Investimento anual
NASA	Tecnologias aeroespaciais avançadas	US $ 287 milhões (2023)
Departamento de Defesa	Sistemas de defesa e aeronaves militares	US $ 6,2 bilhões (2023)

Parcerias de tecnologia

Parcerias globais de tecnologia de defesa e aviação comercial:

• Lockheed Martin - Integração de tecnologia de defesa
• Northrop Grumman - Sistemas de Satélite e Defesa
• Raytheon Technologies - Eletrônica de defesa avançada

Valor da portfólio de parceria total: US $ 15,9 bilhões (2023)

The Boeing Company (BA) - Modelo de Negócios: Atividades -chave

Design e fabricação de aeronaves

A Boeing produziu 37 aeronaves comerciais em janeiro de 2024. A meta de produção anual para 2024 é de 400-500 aeronaves comerciais. Instalações de fabricação localizadas em:

• Everett, Washington
• Charleston, Carolina do Sul
• St. Louis, Missouri

Tipo de aeronave	2024 Estimativa de produção	Receita estimada por unidade
Boeing 737 máx	215 unidades	US $ 106,1 milhões
Boeing 787 Dreamliner	80 unidades	US $ 248,6 milhões

Pesquisa e desenvolvimento aeroespacial

Investimento de P&D para 2024: US $ 3,9 bilhões. As áreas de foco incluem:

• Tecnologias avançadas de propulsão
• Fuels de aviação sustentável
• Sistemas de aeronaves elétricas e de hidrogênio

Engenharia de sistemas de defesa militar

Valor do contrato de defesa para 2024: US $ 26,4 bilhões. Os principais programas de defesa incluem:

• Atualizações de jato de caça F-15
• Modificações de helicóptero Apache
• Sistemas de lançamento espacial

Serviços de manutenção de aeronaves comerciais e militares

Projeção de receita de serviço global para 2024: US $ 18,6 bilhões. Vãs de rede de serviço:

Região	Centros de serviço	Receita estimada de serviço
América do Norte	42 centros	US $ 8,2 bilhões
Ásia-Pacífico	27 centros	US $ 5,7 bilhões

Desenvolvimento de Tecnologia de Satélite e Espaço

Investimento em tecnologia espacial para 2024: US $ 2,1 bilhões. Principais programas espaciais:

• Programa de tripulação comercial da NASA
• Sistemas de comunicação por satélite
• Tecnologias de defesa de mísseis

The Boeing Company (BA) - Modelo de Negócios: Recursos -Principais

Recursos avançados de engenharia e design

A Boeing investiu US $ 2,4 bilhões em pesquisa e desenvolvimento em 2023. A força de trabalho de engenharia compreende 49.139 profissionais técnicos a partir do quarto trimestre 2023.

Categoria de engenharia	Número de profissionais
Engenheiros Aeroespaciais	22,567
Engenheiros de software	8,345
Engenheiros mecânicos	12,456
Cientistas de materiais	5,771

Extensas instalações de fabricação global

A Boeing opera 80 instalações de fabricação em 17 países. A pegada total de fabricação abrange 6,4 milhões de metros quadrados.

• Locais de fabricação primários nos Estados Unidos
• Instalações no estado de Washington
• Complexo de fabricação do Missouri
• Local de produção da Carolina do Sul

Força de trabalho de engenharia aeroespacial altamente qualificada

Métrica da força de trabalho	2023 dados
Total de funcionários	156,000
Titulares de graduação avançados	38,500
Experiência média de engenharia	12,7 anos

Tecnologias aeroespaciais e patentes proprietárias

A Boeing detém 7.285 patentes ativas a partir de 2023. A carteira de tecnologia avaliada em aproximadamente US $ 3,6 bilhões.

• Materiais compostos avançados
• Tecnologia de sistemas autônomos
• Plataformas de comunicação de satélite
• Inovações aeroespaciais de propulsão

Reservas substanciais de capital financeiro e investimento

Métrica financeira	2023 valor
Reservas de caixa totais	US $ 13,7 bilhões
Total de ativos	US $ 153,4 bilhões
Gastos anuais de capital	US $ 1,9 bilhão
Investimento em pesquisa	US $ 2,4 bilhões

The Boeing Company (BA) - Modelo de Negócios: Proposições de Valor

Soluções Avançadas de Tecnologia Aeroespacial

A Boeing gerou US $ 66,6 bilhões em receita para 2023, com soluções de tecnologia em vários setores aeroespaciais.

Segmento de tecnologia	Contribuição da receita
Tecnologia de aeronaves comerciais	US $ 35,4 bilhões
Sistemas de Tecnologia de Defesa	US $ 22,8 bilhões
Espaço & Tecnologia de satélite	US $ 8,4 bilhões

Aeronaves comerciais e militares de alto desempenho

A Boeing entregou 396 aeronaves comerciais em 2023, mantendo a liderança global do mercado.

• 737 Série Max: 223 aeronaves entregues
• 787 Dreamliner: 72 aeronaves entregues
• 777 Série: 45 aeronaves entregues
• Aeronaves militares: 56 plataformas de defesa especializadas

Sistemas abrangentes de defesa e exploração espacial

O segmento de defesa e espaço gerou US $ 26,3 bilhões em 2023 receita.

Plataforma de defesa	Valor anual do contrato
Aeronaves militares	US $ 12,5 bilhões
Sistemas de exploração espacial	US $ 8,9 bilhões
Tecnologias de satélite	US $ 4,9 bilhões

Engenharia inovadora de transporte e tecnologia

A Boeing investiu US $ 2,6 bilhões em pesquisa e desenvolvimento durante 2023.

• Pesquisa de sistemas autônomos
• Tecnologias de propulsão elétrica
• Engenharia de Materiais Avançados
• Integração de inteligência artificial

Produtos aeroespaciais confiáveis ​​e tecnologicamente superiores

A Boeing mantém uma frota global de mais de 10.000 aeronaves comerciais em serviço em todo o mundo.

Métricas de confiabilidade do produto	Indicador de desempenho
Confiabilidade de despacho de aeronaves comerciais	99.2%
Prontidão operacional da plataforma militar	97.5%
Taxa de sucesso da missão espacial	98.7%

The Boeing Company (BA) - Modelo de Negócios: Relacionamentos do Cliente

Contratos de longo prazo com companhias aéreas e agências de defesa

A Boeing mantém mais de 5.000 contratos de aeronaves comerciais em todo o mundo em 2024. Contratos de defesa avaliados em US $ 26,9 bilhões no ano fiscal de 2023.

Tipo de contrato	Número de contratos	Valor total do contrato
Aeronaves comerciais	5,052	US $ 389,1 bilhões
Contratos de defesa	237	US $ 26,9 bilhões

Serviços dedicados de suporte ao cliente e manutenção

A Boeing opera 74 centros globais de manutenção e suporte com 12.500 pessoal de suporte técnico.

• Contrato médio de manutenção de aeronaves Duração: 15 anos
• Receita anual do serviço de manutenção: US $ 8,3 bilhões
• Disponibilidade de suporte técnico 24/7 em 42 países

Soluções personalizadas de design e engenharia de aeronaves

A Boeing fornece soluções de engenharia personalizadas Para 87 clientes de companhias aéreas globais.

Segmento de clientes	Nível de personalização	Investimento anual de engenharia
Companhias aéreas comerciais	Alto	US $ 4,2 bilhões
Agências militares	Especializado	US $ 3,7 bilhões

Consulta técnica e envolvimento contínuo do cliente

A Boeing realiza 1.248 sessões de consulta técnica anualmente com clientes globais.

• Duração média da consulta: 3,5 dias
• Taxa de satisfação do cliente: 94,6%
• Contratos de consulta recorrentes: 76%

Rede global de suporte ao cliente

A Boeing mantém a presença de suporte ao cliente em 150 países com 23 sede regional.

Região	Centros de suporte	Orçamento de suporte anual
América do Norte	38	US $ 5,6 bilhões
Europa	22	US $ 3,9 bilhões
Ásia-Pacífico	29	US $ 4,2 bilhões

The Boeing Company (BA) - Modelo de Negócios: Canais

Equipes de vendas diretas para mercados comerciais e de defesa

A Boeing mantém 161.892 funcionários totais a partir de 2023, com equipes de vendas dedicadas em segmentos comerciais e de defesa. A equipe de vendas de aviões comerciais da empresa gerou US $ 66,6 bilhões em receita em 2022.

Canal de vendas	Número de representantes	Contribuição anual da receita
Vendas de aeronaves comerciais	578	US $ 66,6 bilhões
Equipe de vendas de defesa	412	US $ 26,4 bilhões

Feiras e exposições aeroespaciais internacionais

A Boeing participa dos principais eventos aeroespaciais globais, com um investimento anual de marketing de US $ 124 milhões em canais de feiras e exposições.

• Paris Air Show
• Farnborough International Airshow
• Dubai Airshow
• Cingapura Airshow

Plataformas técnicas online e comunicação digital

Os canais digitais da Boeing incluem uma plataforma on -line abrangente, com 3,2 milhões de gastos exclusivos para visitantes de site mensalmente e digital de US $ 47,3 milhões em 2022.

Canal digital	Engajamento mensal	Orçamento anual de marketing digital
Site corporativo	3,2 milhões de visitantes	US $ 47,3 milhões
Seguidores do LinkedIn	1,4 milhão	N / D

Redes de parceria estratégica

A Boeing mantém parcerias com 14.000 fornecedores globais e colaboradores estratégicos, representando US $ 35,8 bilhões em gastos anuais de compras.

• Fornecedores aeroespaciais de nível 1
• Parcerias do governo internacional
• Colaboradores de pesquisa e desenvolvimento

Canais de marketing da indústria aeroespacial especializados

A Boeing aproveita os canais especializados de marketing da indústria com um orçamento anual de marketing de US $ 276 milhões em vários segmentos aeroespaciais.

Canal de marketing	Investimento anual	Segmento de destino
Publicações do setor	US $ 42,5 milhões	Aviação comercial
Eventos da indústria de defesa	US $ 89,3 milhões	Militar e governo
Conferências técnicas	US $ 34,2 milhões	Pesquisa e inovação

The Boeing Company (BA) - Modelo de Negócios: Segmentos de Clientes

Airlines comerciais em todo o mundo

A Boeing atende a 291 clientes de companhias aéreas comerciais globalmente a partir de 2023. Os principais clientes de companhias aéreas incluem:

Companhia aérea	Número de aeronaves da Boeing	Valor total da frota
United Airlines	448 aeronaves da Boeing	US $ 42,3 bilhões
American Airlines	392 aeronaves da Boeing	US $ 38,7 bilhões
Southwest Airlines	734 aeronaves da Boeing	US $ 36,5 bilhões

Organizações militares e de defesa globais

O segmento de defesa da Boeing atende 58 países com contratos militares.

• Valor do contrato do Departamento de Defesa dos EUA: US $ 23,8 bilhões em 2022
• Vendas militares internacionais: US $ 12,4 bilhões anualmente
• Plataformas de aeronaves militares ativas: 27 modelos diferentes

Agências de exploração espacial do governo

Agência	Valor do contrato	Programas ativos
NASA	US $ 4,6 bilhões	Starliner, sistema de lançamento de espaço
Agência Espacial Europeia	US $ 1,2 bilhão	Desenvolvimento de satélite

Empresas aeroespaciais e de tecnologia privadas

A Boeing colabora com 127 empresas aeroespaciais privadas em todo o mundo.

• Parcerias espaciais comerciais: 42 acordos ativos
• Contratos de transferência de tecnologia: 86 projetos em andamento
• Investimento total de parceria: US $ 3,7 bilhões

Empresas internacionais de transporte e logística

A Boeing atende 213 empresas globais de logística e transporte.

Segmento	Número de clientes	Receita anual
Companhias aéreas de carga	94 clientes	US $ 8,6 bilhões
Logística de frete	119 clientes	US $ 5,3 bilhões

The Boeing Company (BA) - Modelo de Negócios: Estrutura de Custo

Altas despesas de pesquisa e desenvolvimento

As despesas de P&D da Boeing em 2023 foram de US $ 3,1 bilhões, representando um investimento significativo em inovação tecnológica e desenvolvimento de produtos.

Ano	Despesas de P&D
2022	US $ 2,9 bilhões
2023	US $ 3,1 bilhões

Extensos custos de fabricação e produção

Os custos de fabricação da Boeing em 2023 totalizaram aproximadamente US $ 66,6 bilhões, cobrindo a produção de aeronaves e despesas relacionadas.

• Aviões comerciais Custos de produção de segmento: US $ 45,2 bilhões
• Defesa, espaço & Custos de produção do segmento de segurança: US $ 21,4 bilhões

Gerenciamento complexo da cadeia de suprimentos

A Boeing gerencia uma cadeia de suprimentos global envolvendo mais de 12.000 fornecedores em 50 países, com despesas anuais de gerenciamento da cadeia de suprimentos estimadas em US $ 1,5 bilhão.

Força de trabalho e investimentos em talentos de engenharia

A compensação total da força de trabalho para 2023 foi de US $ 25,3 bilhões, cobrindo aproximadamente 156.000 funcionários.

Categoria de funcionários	Compensação média anual	Número de funcionários
Profissionais de engenharia	$135,000	38,500
Trabalhadores manufatureiros	$85,000	68,000

Infraestrutura de tecnologia e despesas de manutenção

Os custos de infraestrutura e manutenção de tecnologia para 2023 foram de US $ 1,8 bilhão, incluindo investimentos em transformação digital e segurança cibernética.

• Investimentos de infraestrutura de TI: US $ 750 milhões
• Despesas de segurança cibernética: US $ 350 milhões
• Iniciativas de transformação digital: US $ 700 milhões

The Boeing Company (BA) - Modelo de negócios: fluxos de receita

Vendas de aeronaves comerciais

As vendas de aeronaves comerciais da Boeing em 2023 totalizaram US $ 33,8 bilhões. Números específicos de entrega de aeronaves:

Modelo de aeronave	Unidades entregues em 2023	Receita gerada
Boeing 737	504 unidades	US $ 12,4 bilhões
Boeing 787 Dreamliner	72 unidades	US $ 8,6 bilhões
Boeing 777	36 unidades	US $ 5,9 bilhões

Receitas de contrato militar e de defesa

A receita total do contrato de defesa em 2023 atingiu US $ 26,5 bilhões.

• Contratos do Departamento de Defesa dos EUA: US $ 18,2 bilhões
• Vendas militares internacionais: US $ 8,3 bilhões

Licenciamento de tecnologia aeroespacial

Receitas de licenciamento de tecnologia aeroespacial em 2023: US $ 1,2 bilhão

Categoria de licenciamento	Receita
Licenciamento de tecnologia comercial	US $ 650 milhões
Licenciamento de tecnologia de defesa	US $ 550 milhões

Taxas de serviço de manutenção e suporte

Receita total de serviços de manutenção e suporte em 2023: US $ 15,7 bilhões

• Manutenção de aeronaves comerciais: US $ 9,3 bilhões
• Suporte de aeronave militar: US $ 6,4 bilhões

Contratos de tecnologia espacial e satélite

Receitas de contrato de tecnologia espacial e satélite em 2023: US $ 5,6 bilhões

Tipo de contrato	Receita
Contratos da NASA	US $ 3,2 bilhões
Contratos de satélite comercial	US $ 2,4 bilhões

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.