2025 Boeing’s Best Year in a Decade

Boeing has now also delivered their 2025 orders and deliveries data, and what a year it was! We were bullish on the Airbus numbers, but now, with the Boeing numbers as well, the duopoly looks almost back to its former glory. Today's news about Delta's 787-10 order came at just the right time. Our updated data model is below. The top chart on page 1 pretty much sets the scene. Orders up bigly - at a level last seen in 2018. That is a confidence signal Boeing hasn't seen in years. With 600 deliveries, Boeing is clearly bumping up against the FAA limits. Every 6 months, if they meet their KPIs, the FAA opens the limit a bit more. Yes, they are clearly hitting those KPIs, and they will see more expansion in 2026. On page 2, the bottom chart shows the tremendous effort and results for MAX deliveries. 2025's 447 is only 23% shy of the 2018 number. Even with the FAA restricted rate, Boeing moved aircraft out of the parked inventory into the market at a remarkable clip. While this says a lot about the marketing and sales teams, it says even more about the market acceptance of the MAX. Five years ago, they only delivered 43! Conclusion Things haven't looked this good in years. Which is great. But there's so much more to do - three certifications for a start. Of these, the MAX 10 is most important because that's where the market is. Next, the 777-9, because this is a flagship model, and an anxious key customer is growing more antsy even as they add to the order book. The biggest hurdle? The MAX 7 has to get certified before the MAX 10. If, as it's a big if, the two MAXs can get certified this year, it opens the door for Boeing to release pressure by activating the new Everett line for the MAX 10. This brings in a lot of revenue that's been on hold. That revenue brings all kinds of relief. In particular, the kind needed to move forward with the next single-aisle to replace MAX in the 2030s.

No results