- Manufacturers
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The largest aircraft manufacturer in the world is Raytheon Technologies, with a revenue of $67.1 billion.
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As of 2022, the global aircraft manufacturing industry has a market size of $562.5 billion.
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Airbus alone manufactured 611 jets in 2021.
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The global aircraft manufacturing market is projected to grow at a CAGR of 3.7% through 2030.
The aircraft manufacturing sector is a vital component of global commerce, significantly influencing economies and industries beyond aviation. While many may not recognize the names behind the aircraft, these manufacturers play a crucial role in our interconnected world.
Aerospace manufacturing impacts our lives in countless ways, from the commercial flights we take to its strategic partnerships with military suppliers. The majority of leading aircraft manufacturers also serve as defense contractors, developing advanced technologies for both military and civilian applications.
This dual role underscores the power and influence of the companies in this industry, making it a competitive landscape dominated by a few key players who command a substantial share of the market.
In this article, we will explore the ten largest contributors to the aircraft manufacturing industry by revenue, highlighting their unique positions and contributions to the sector.
Largest Aircraft Manufacturers in the World
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Raytheon Technologies. Waltham, Massachusetts, United States
2022 Annual Revenue: $67.1 billion
Raytheon Technologies, formed from the merger of Raytheon Company and United Technologies in 2020, stands as a leader in aerospace and defense. With 67,000 employees, it has consistently ranked among the top defense contractors globally, specializing in guided missiles and advanced aerospace systems.
The company encompasses several key divisions, including Raytheon Intelligence & Space, Raytheon Missiles & Defense, Pratt & Whitney, and Collins Aerospace, solidifying its position in the industry.
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Boeing. Chicago, Illinois, United States
2022 Annual Revenue: $66.6 billion
Boeing, founded in 1916, has long been a stalwart in aerospace manufacturing, producing a diverse range of aircraft, including commercial airplanes, rockets, satellites, and defense systems. Despite facing challenges related to the 737 MAX issues, Boeing remains a significant player in both the commercial and defense sectors.
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Lockheed Martin. Bethesda, Maryland, United States
2022 Annual Revenue: $66.0 billion
Lockheed Martin, formed in 1995 from a merger, has rapidly become a leader in aerospace and defense. With a workforce exceeding 110,000, the company focuses on advanced military systems, including aeronautics, missiles, and space technology. Lockheed Martin’s extensive government contracts solidify its place in the top tier of the industry.
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Airbus Americas. European Union
2022 Annual Revenue: $64.8 billion
Airbus SE, established in 1970, has become a dominant force in aerospace, surpassing Boeing in production volumes since 2019. With operations spanning several countries, Airbus manufactures a wide range of civilian and military aircraft, having transported over 12 billion passengers globally. Despite facing scrutiny over subsidies, Airbus continues to thrive at the forefront of the industry.
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Northrop Grumman. West Falls Church, Virginia, United States
2022 Annual Revenue: $36.6 billion
Northrop Grumman, founded in 1994, is known for its cutting-edge technology in aerospace and defense. The company specializes in systems that enhance national security, including the production of advanced unmanned aerial vehicles. Northrop Grumman continues to innovate, leading efforts in modern military aircraft development.
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GE Aviation. Evendale, Ohio, United States
2021 Annual Revenue: $26.8 billion
GE Aviation, a division of the General Electric conglomerate, has been a leading supplier of commercial aircraft engines since its inception in 1917. While not primarily a defense contractor, its engines power a significant portion of the world’s commercial fleet, making it a crucial player in the aerospace landscape.
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Rolls-Royce Holdings Plc. London, England, United Kingdom
2022 Annual Revenue: $15.9 billion
Rolls-Royce, established in 1904, is renowned for both luxury automobiles and its significant role in the aerospace sector. As the second-largest manufacturer of aircraft engines, Rolls-Royce has faced challenges but continues to innovate in the fields of propulsion and energy efficiency.
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Textron Aviation. Wichita, Kansas, United States
2022 Annual Revenue: $12.9 billion
Textron Aviation, formed in 2014 through the acquisition and merger of Beechcraft and Hawker Aircraft with Cessna, specializes in small aircraft primarily for private use. The company has made its mark by producing the most popular aircraft in history, the Cessna 172, contributing significantly to its impressive revenue.
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Honeywell Aerospace. Phoenix, Arizona, United States
2022 Annual Revenue: $11.8 billion
Honeywell Aerospace, a division of Honeywell International, has been at the forefront of aviation technology since WWII. Known for its innovations in avionics and flight safety, Honeywell continues to develop cutting-edge aerospace technology that is integral to modern aviation.
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Leonardo DRS. Rome, Italy
2022 Annual Revenue: $2.7 billion
Leonardo, founded in 1948, is a major player in aerospace and defense, with a focus on innovative technologies. As a public company with the Italian government as its largest shareholder, Leonardo operates globally, producing cutting-edge aeronautics and defense systems while maintaining a solid reputation.
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Airplane Manufacturer FAQ
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Who is the largest airplane manufacturer in the world?
Raytheon Technologies is the largest airplane manufacturer in the world, with a revenue of $67.1 billion in 2022. This conglomerate includes several aerospace and defense entities, ensuring its leading position in the industry.
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What company owns the most planes?
American Airlines owns the most planes of any company globally, with a fleet that includes 913 aircraft and plans to expand further soon.
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What is the most purchased plane ever?
The Cessna 172 is the most purchased airplane in history, with over 44,000 units produced since 1956, making it a staple in both private and training aviation.
- Manufacturers
Author
Chris Kolmar is a co-founder of Zippia and the editor-in-chief of the Zippia career advice blog. He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. More recently, he's been quoted on USA Today, BusinessInsider, and CNBC.
