Boeing's Airplane Deliveries Hit 7-Year High, Set to Accelerate

• Boeing delivered 537 aircraft through November 2024 (estimated 598 total for the year), far exceeding 2023's 528 but still below 2018's 806 deliveries. The FAA raised the 737 Max production cap from 38 to 42 per month in October 2024.
• The company has stabilized production through manufacturing reforms including reduced 'traveled work' (out-of-sequence tasks), added training, and completion of Spirit AeroSystems acquisition in December 2024 for better supplier control.
• Boeing logged 1,000 gross orders through November 2024 versus Airbus's 797, with strong demand continuing into the 2030s. Alaska Airlines ordered 105 Max 10s, signaling renewed customer confidence, while wide-body demand accelerates due to robust international travel at 84% load factors globally.

Boeing's Airplane Deliveries Hit 7-Year High, Set to Accelerate

Summary

Boeing is poised to report its highest annual airplane deliveries since 2018, marking a significant recovery after years of quality issues and production challenges. The company delivered 537 aircraft through November 2025, with Jefferies estimating 61 additional December deliveries (44 of them 737 Max jets), bringing the year's total to approximately 598 planes—well above 2024's 348 and 2023's 528 deliveries.

Production Acceleration Plans:

The FAA raised Boeing's 737 Max production cap from 38 to 42 aircraft monthly last October. CEO Kelly Ortberg, who took the helm months after the January 2024 door plug blowout, expects Boeing to reach this rate by early 2026, with potential further increases in five-plane increments. The company also plans to produce approximately eight 787 Dreamliners monthly.

Market Position:

Boeing appears to have outsold Airbus in 2025, logging 1,000 gross orders through November versus Airbus' 797. Alaska Airlines recently ordered 105 Boeing 737 Max 10 jets, demonstrating renewed customer confidence. However, Boeing still lags 2018's 806 deliveries, and several models remain uncertified, including the 777X, Max 7, and Max 10.

Financial Outlook:

Deliveries are crucial for cash flow, as airlines pay the bulk of aircraft prices upon delivery. Analysts expect Boeing to return to profitability in 2025 after seven years of losses. The commercial aircraft unit represents 46% of sales. Boeing stock has outperformed the S&P 500, rising nearly 20%.

Industry Context:

Global airplane capacity reached record 84% in November 2025. Strong demand is expected to outpace supply through the next decade, with airlines booking delivery slots into the mid-2030s.