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In the enduring contest for dominance in commercial aircraft, Europe's Airbus has maintained a consistent lead over Boeing, securing higher sales and deliveries for five consecutive years. Airbus recently reported a 28% increase in quarterly net profit, highlighting its success in developing a line of fuel-efficient, mid-sized aircraft that have outperformed Boeing's offerings.
While Boeing has faced setbacks due to manufacturing issues and safety concerns, Airbus' advantage in the duopoly may not significantly widen. The European company is operating at maximum capacity, with a backlog of over 8,600 orders, limiting its ability to capitalize on Boeing's difficulties.
Boeing, on the other hand, is contending with a government-imposed production cap on its popular 737 Max aircraft. The company has experienced challenges since the 2018 and 2019 crashes of its Max jets, resulting in a significant first-quarter loss and production slowdowns.
The relationship between Airbus and Boeing underscores the complexity of aircraft manufacturing, which relies heavily on a vast network of suppliers. Despite Airbus' current edge, it is unable to fully exploit Boeing's vulnerabilities due to its own production constraints. Boeing, while facing difficulties, still retains a significant market presence and remains vital for ensuring a competitive market for airlines.
Looking ahead, while companies like Brazil's Embraer and China's COMAC show promise, they are not immediate threats to the Airbus-Boeing duopoly. The airline industry's reliance on having at least two major suppliers ensures continued support for Boeing's recovery and the maintenance of a competitive market.