Boeing vs. Airbus: Analyzing Production, Orders, and Market Position in 2025

The aerospace industry in 2025 remains a battleground of resilience and reinvention, with Boeing and Airbus navigating a complex web of production challenges, order momentum, and shifting market dynamics. For investors, the question is not merely which company is ahead today but which is better positioned to sustain long-term value amid a volatile recovery.

Production: Stability vs. Scalability

Boeing's 737 MAX program has shown signs of stabilization, hitting its FAA-approved rate of 38 aircraft per month in May and exceeding it in July with 40 units. This consistency, while modest, contrasts with Airbus' A320neo program, which oscillated between 39 and 58 units per month in Q2 2025 before surging to 58 in July. Airbus' ability to surpass its 50-unit target in July suggests a path toward its long-term goal of 75 aircraft per month by 2027, but inconsistent output remains a risk.

However, production stability alone does not guarantee success. Airbus' widebody programs, including the A350 and A330neo, have also gained traction, with seven A350s produced in July. Boeing's 787 Dreamliner, meanwhile, has outperformed expectations, producing seven units in July—surpassing its target of four to five. The 787's potential to scale to 10 units per month by 2026 could become a critical differentiator for Boeing's widebody strategy.

Order Momentum: Backlogs and Delivery Gaps

Both companies face daunting backlogs. Boeing's 6,581 unfilled orders (as of June 2025) represent 11.6 years of production at current rates, while Airbus' 8,742 orders equate to 10.7 years. The disparity reflects Airbus' stronger order capture, particularly during the Paris Air Show, where it secured 203 firm orders in June. Boeing, by contrast, added 116 orders in the same period, underscoring its struggle to match Airbus' momentum in the narrowbody segment.

Delivery performance further widens the gap. Airbus delivered 67 aircraft in July 2025, compared to Boeing's 48, the lowest for Boeing since 2017. While Airbus' CEO Guillaume Faury remains confident in hitting 820 deliveries for 2025, supply chain bottlenecks—particularly for LEAP engines and winglets—threaten this target. Boeing's narrower delivery shortfall, meanwhile, is offset by its regulatory progress: the 737 MAX's consistent production and potential approval to increase output to 42 units per month could close the gap if certification delays for the MAX 7 and MAX 10 are resolved.

Financials and Strategic Priorities

Boeing's 2024 financials were dire, with a net loss of $11.82 billion and a stockholders' equity deficit of $3.91 billion. Yet its 5.45% R&D investment signals a commitment to innovation, particularly in addressing technical issues with the LEAP-1B engine and advancing the 737 MAX. Forward earnings projections, assuming successful execution, suggest a potential turnaround by 2029.

Airbus, by contrast, has maintained a stronger balance sheet, with its A320neo's 1-2% fuel efficiency edge over the 737 MAX reinforcing its market position. The company's strategic focus on scaling production and developing next-generation single-aisle aircraft positions it to capitalize on the narrowbody segment's dominance in global demand. However, its reliance on supply chain resilience and its ability to navigate tariffs—particularly in the U.S.—remain critical risks.

Investment Implications

For long-term investors, the key lies in balancing near-term risks with structural trends. Airbus' production scalability and order momentum make it a compelling bet in the narrowbody market, where it holds a clear edge. However, its exposure to supply chain bottlenecks and geopolitical tensions (e.g., U.S. tariffs on European aircraft) introduces volatility. Boeing's challenges are more immediate: resolving certification delays for the MAX 7 and MAX 10, stabilizing its 737 MAX production, and managing its debt load. Yet its strong 737 MAX backlog and potential for 787 growth offer a path to recovery if operational hurdles are overcome.

In a diversified portfolio, Airbus' current momentum and strategic clarity may justify a larger allocation, while Boeing's potential for a production-driven rebound could warrant a smaller, risk-tolerant position. Both companies, however, require close monitoring of supply chain dynamics and regulatory developments.

Conclusion

The aerospace recovery in 2025 is far from linear. Airbus' production surges and order capture suggest it is better positioned to navigate the near-term, but Boeing's operational consistency and long-term production targets offer a glimmer of hope. For investors, the path forward hinges on which company can stabilize its operations, resolve bottlenecks, and adapt to a market increasingly defined by sustainability and efficiency. The winner may not be clear yet—but the stakes have never been higher.