CFM Surges in 2025 with Boeing MAX Recovery

We have written extensively about Boeing's recovery this year. It's time to reflect on the trickle-down impact on engines. No surprise, CFM is on a tear this year right alongside Boeing. CFM has been dominant for decades CFM has been dominating the aero-engine business since its CFM56 caught on. The CFM56 engine entered service in 1982, when the CFM56-2 variant powered the Douglas DC-8-70 series, with the first commercial flight occurring in April 1982. The CFM56-3 engine started flying on the Boeing 737-300, entering commercial service in November 1984. The CFM56-5 engine started flying on the Airbus A320 family with the A320-100, entering commercial service in April 1988. CFM never looked back once its engines were on the 737 and A320 family. We estimate ~24,000 CFM56 engines remain in service as of September 2025, based on their high reliability and long service life (30,000–50,000 hours before overhaul). This engine is the most delivered aero-engine ever; in 2021, CFM had already delivered 33,000 to 540 customers. To further emphasize this engine's remarkable performance, it boasts a dispatch reliability rate of 99.98%, meaning only one delay or cancellation occurs every 2,500 flights. Its average time on wing before the first overhaul is around 18,000 cycles (approximately nine years), with some units exceeding 50,000 hours. This superb performance set a benchmark that any aero-engine is now measured by. Matching or even beating this record may be impossible. 2025 Numbers This year has seen a remarkable improvement in Boeing's MAX fortunes. Deliveries have risen as China started taking its parked inventory. The MAX parked fleet is now operational. The charts are impressive. At the end of August, there were 661 single-aisle deliveries this year. [caption id="attachment_105207" align="aligncenter" width="580"] AirInsight[/caption] 2025 has been great for CFM, but it wasn't always like that. When the MAX was grounded, it hurt CFM. We highlighted the MAX nightmare period. However, note the 2024 slowdown after the Alaska door blowout and then the recovery from that. [caption id="attachment_105208" align="aligncenter" width="580"] AirInsight[/caption] It's not just a Boeing story. Look at the anemic COMAC performance. The talk about 50 deliveries this year is a fantasy. And don't blame Trump Tariffs; this anemic delivery rate was well-established long before. For the GTF, we can see the E2 has not caught on as might have been expected. Airbus' Role Of course, the table above has almost certainly got you asking the obvious question - break down the Airbus number by model. So here you go. The A220 program is GTF exclusive. The main difference between GTF and LEAP at Airbus is in the A321. [caption id="attachment_105211" align="aligncenter" width="580"] AirInsight[/caption] To make the data easier to "see", the following chart helps. The GTF had a great run on the most delivered single-aisle model in the market. During the pandemic, CFM briefly moved into the lead. But post-pandemic, the GTF accelerated into a strong lead. [caption id="attachment_105212" align="aligncenter" width="580"] AirInsight[/caption] But midway through 2024, the GTF popularity declined, and the LEAP came on strong again. YTD 2025, the LEAP is now in the lead on the A321. This is what it looks like YTD. [caption id="attachment_105213" align="aligncenter" width="580"] AirInsight[/caption] Boeing's side of the CFM story Using the same chart styles, here's Boeing's role in CFM's improved circumstances. Boeing's key model is the MAX 8. Unfortunately, Boeing has no competitor to the A321. [caption id="attachment_105215" align="aligncenter" width="580"] AirInsight[/caption] The key item here is to note Boeing's deliveries through August are already ahead of 2024, and there are four months to go. Boeing's MAX customers are taking every delivery they can get. We noted Michael O'Leary's unusual compliments to Boeing recently. Other good news is Boeing's possible rate increase in November to 42 MAX/month. Boeing's recent orders boost the need for this. Every positive step toward increasing MAX production is a 2X win for CFM. Conclusion CFM is a 2X winner from the MAX recovery in 2025. The forthcoming certification of the MAX 10 will further boost those fortunes. Adding to this is CFM's LEAP growing success on the Airbus line. 2025 is turning out to be an excellent year for CFM.

US Flight Planner - US DoT On-Time Data	Airbus vs Boeing - Official OEM Data
US Airline Schedule Performance - US DoT Data	Daily OEM Production & Deliveries -

CFM has been dominant for decades

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CFM has been dominant for decades

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