Boeing, the renowned U.S. aircraft manufacturer, achieved a remarkable milestone in 2023, marking a 70% increase in annual net orders. This achievement reflects a record-breaking year in sales for the planemaking industry.
On Tuesday, Boeing disclosed its year-end figures, showcasing 528 plane deliveries and 1,314 net new orders after accounting for cancellations. This impressive performance substantially improved from the previous year, with only 480 deliveries and 774 net new orders in 2022.
Despite a manufacturing flaw by fuselage supplier Spirit AeroSystems that led to a reduced target in October, Boeing successfully met its revised goal of delivering at least 375 single-aisle planes. They delivered 396 narrowbody 737 jets, slightly below the initial target of 400 to 450. The company also achieved its delivery goal for the 787 Dreamliners, handing over 73 aircraft out of the aimed 70 to 80.
Comparative Industry Performance and Future Outlook
While Boeing’s achievements are notable, its European rival, Airbus, is anticipated to surpass these figures. Airbus reportedly broke industry records for gross and net orders and exceeded its delivery target of 720 aeroplanes in 2023. Airbus is expected to announce its official orders and deliveries soon.
In 2023, Boeing won 1,456 gross orders, or 1,576 net orders after accounting adjustments. December saw 371 gross orders, including a record monthly sale of 301 737 MAX planes. However, there was a cancellation by Spanish carrier Air Europa for two Dreamliners. The company’s order backlog saw a rise from 5,324 to 5,626.
Boeing executives are set to announce new goals for 2024 alongside releasing the company’s fourth-quarter results on January 31. This announcement is highly anticipated, as it will provide insights into Boeing’s strategies and expectations in the face of ongoing industry challenges, including the fallout from the recent incident involving an Alaska Airlines 737 MAX 9.
Boeing’s performance in 2023 highlights its resilience and adaptability in a competitive and challenging industry. With a significant increase in net orders and successful delivery targets, Boeing remains a key player in the aerospace sector despite manufacturing setbacks and intense competition from Airbus.