In 2025, the world’s largest aircraft manufacturers generated hundreds of billions of dollars in combined revenue as commercial aviation demand surged and global defense spending accelerated. Boeing reported roughly $90 billion in annual revenue while Airbus came in at just over $80 billion. Also contributing significantly from the military sector was Lockheed Martin, posting revenue figures nearly as large as Boeing and Airbus.

Looking more closely at the rankings reveals a significant gap between the third and fourth-largest aircraft manufacturers, one of more than $60 billion, reflecting the concentration of annual revenue among just a few manufacturers. However, smaller aircraft producers from around the world, like Textron Aviation, Embraer, and even the Russian-owned Rostec, contribute significantly to the aerospace industry. Based on annual reports and manufacturing earnings data, these eight companies continue to dominate a global aviation market shaped by record aircraft backlogs and rising demand across all sectors of the industry.

1

Boeing

$89.5 Billion

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Boeing reclaimed the top spot in 2025, posting its highest annual revenue since 2018 as the American manufacturer continued its recovery from the pandemic and later challenges. Boeing’s 2025 full-year revenue reached $89.5 billion, up 34% from 2024. This increase was driven largely by the manufacturer’s 600 aircraft deliveries. This included 447 737s, 88 787s, 35 777s, and 30 767s, as production improvements and easing regulatory pressure allowed Boeing to increase output throughout the year.

The company’s Commercial Airplanes division generated $41.5 billion, or 46% of total revenue, while the Defense, Space & Security sector contributed $27.2 billion (30%) and the Global Services segment added $20.9 billion (24%) of total revenue. The Boeing 737 program reached a production rate of 42 aircraft per month by the end of the year, with the Boeing 787 program moving towards eight per month, significant production boosts compared to prior years.

Additionally, Boeing finalized its acquisition of Spirit AeroSystems in late 2025, a move intended to strengthen its supply chain and stabilize production quality. Boeing also sold off parts of its digital technology, with Thoma Bravo purchasing Boeing’s Jeppesen, ForeFlight, AerData and OzRunways products for a total of $10.55 billion. However, despite Boeing’s leading revenue, the Commercial Airplanes division still posted an operating loss, with CEO Kelly Ortberg describing 2025 as a year of significant progress in rebuilding the company’s foundation.

2

Airbus

$81 Billion (€73.4 Billion)

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Coming in behind Boeing, Airbus ranks as the second-largest aircraft manufacturer by revenue. The European manufacturer delivered a record-breaking financial performance in 2025, with revenues rising 6% to €73.4 billion, or approximately $81 billion. Airbus’ performance was driven by its position as the largest commercial aircraft manufacturer by deliveries. In 2025, the company delivered 793 commercial jets, consisting of 93 Airbus A220s, 607 Airbus A320 Family jets, 36 Airbus A330s, and 57 Airbus A350s, setting a new annual delivery record for the manufacturer.

One of Airbus’ greatest strengths is its extremely large order backlog, growing to more than 8,700 aircraft worth €619 billion ($720.18 billion) by early 2026. In total, Airbus’s commercial aircraft division accounted for €52.6 billion ($61.2 billion) of total revenue, while Airbus Helicopters and Defense & Space contributed the other €22.4 billion ($26.06 billion). Earnings before interest and taxes rose to €7.1 billion ($8.26 billion), representing a 33% increase year over year.

Despite the strong results, Airbus faced significant challenges, especially due to the continued Pratt & Whitney GTF engine crisis. The continued maintenance delays and aircraft groundings are compounded by Pratt & Whitney’s failure to deliver the contracted number of engines for the Airbus A320neo family, with Airbus now targeting between 70 and 75 deliveries per month by the end of 2027. Nevertheless, Airbus remains exceptionally well positioned for future growth as its A320neo and A350 families continue to post record orders every year.

3

Lockheed Martin

$75 Billion

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With sales rising 6% to $75 billion in 2025, Lockheed Martin delivered yet another year of strong growth. Driven by surging demand for its defense systems across all four business segments, Lockheed retained its title of the world’s largest dedicated defense aerospace manufacturer and third-largest aircraft producer overall. Unlike many other manufacturers on this list, Lockheed’s dominance stems entirely from military aviation products rather than commercial aircraft.

Lockheed Martin’s flagship aircraft program today is the F-35 Lightning II, the most expensive and advanced fighter jet program ever developed. With dozens of features in the fifth-generation fighter, the F-35 offers unmatched stealth capabilities, a mix of air-to-air and air-to-ground weaponry, and advanced radar, Distributed Aperture System and Electro-Optical Targeting system giving pilots a real-time 360-degree view of the battlespace around them. With a sticker price around $160 million per jet, the F-35 remained Lockheed’s largest revenue contributor as the aircraft enters service with air forces around the world.

Beyond the F-35, Lockheed also produces many other notable military aircraft, including the F-22 Raptor, Lockheed C-130 Hercules transport aircraft, and a wide variety of missile systems, satellites, and other defense technologies. The company’s Missiles & Fire Control sector posted strong double-digit sales growth year-over-year, while Rotary & Mission Systems and Space Systems also contributed positively. Net earnings for the year sat at around $5 billion. Perhaps most notably, Lockheed ended 2025 with a record backlog of $194 billion, approximately 2.5 times its annual sales, signaling robust demand across its platforms well into the 2030s and indicating potential strong revenues in 2026.

4

Textron Aviation

$14.8 Billion

Credit: Textron Aviation

Textron Aviation, the Rhode-Island-based manufacturer whose aviation portfolio includes the likes of Cessna, Beechcraft, Bell Helicopter, and Pipistrel, posted a 2025 revenue of $14.8 billion, up 8% from 2024. The result marked a strong recovery for the company, especially after a damaging 2024 strike costing Textron approximately $50 million. The aviation sector completed three new certification programs in 2024 while significantly growing revenue as well.

Textron Aviation remains one of the world’s leading producers of general aviation aircraft, including business jets, turboprops and piston aircraft. Popular private jets, like the Cessna Citation series and Beechcraft King Air, continue to dominate segments of the business aviation market. Meanwhile, the Cessna 172, by far the world’s best-selling aircraft of all time, continues to provide an affordable option for flight students and private pilots seeking an aircraft capable of a weekend getaway. On the helicopter side, Bell Helicopter produces military and civilian rotorcraft, including the Bell UH-1 Iroquois and Bell 206, the second and third-most-produced helicopters, respectively.

5

Bombardier

$9.55 Billion

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Canadian aerospace company Bombardier has undergone a dramatic transformation over the past decade. After exiting the commercial aviation business, notably selling its CS-series aircraft to Airbus as the Airbus A220 family, the company is now focused almost exclusively on high-end business aviation. In 2025, Bombardier generated nearly $10 billion in annual revenue, supported by strong deliveries from both its Challenger and Global business jet families.

Bombardier’s Global 7500 has become one of the world’s most successful ultra-long-range business jets, competing with the Gulfstream G650 for the top spot. Known for its impressive range of 7,700 nautical miles (14,260 km) and spacious four-section cabin, the aircraft has helped Bombardier compete directly with Gulfstream and Dassault Aviation in the high-end private aviation market. The manufacturer also recently introduced the Global 8000, building on the success of the Global 7500 with a range of 8,000 NM (14,820 km) and a top speed of Mach 0.95, making it the world’s fastest civilian aircraft since the Concorde.

6

Dassault Aviation

$8.7 Billion (€7.42 Billion)

Dassault Aviation generated more than €7 billion ($8.14 billion) in annual revenue during 2025, driven by strong sales of both military and business aircraft. The company is internationally recognized for the Dassault Rafale multirole fighter aircraft, which has secured contracts with countries including India, Egypt, Greece, Croatia, and the United Arab Emirates. Continued demand for the Rafale has significantly boosted Dassault’s defense revenues.

However, the French manufacturer occupies a unique position thanks to its dual success in defense aviation and luxury business jets. The Dassault Falcon jet family is known for its advanced aerodynamics and high-end cabin comfort, with variants like the Dassault Falcon 7X, Falcon 900 and Falcon 2000 among the most popular. Like Bombardier, Dassault plans to introduce a new ultra-long-range business jet dubbed the Falcon 10X, with capacity for up to 19 passengers and a range of 7,500 NM (13,890 km) as the company looks to build on its successful business aviation division.

7

Embraer

$7.58 Billion

Credit: Photo: Embraer

Brazil’s Embraer recorded its highest annual revenue in its 56-year history in 2025, with total revenues reaching $7.58 billion, up 18% year-over-year and above the top end of the company’s own guidance range of $7-7.5 billion. The São Paulo-based manufacturer is a strong player in the commercial regional jet market, with 78 aircraft deliveries in that sector last year. However, the company also has a significant presence in both the private jet and defense industries as well.

Looking first at Embraer’s regional jet offerings, the company’s current flagship aircraft family is the Embraer E2. Consisting of the E175-E2, E190-E2, and E195-E2, these jets deliver 29% better fuel efficiency per seat and a 68% reduction in noise footprint over the E195-E2’s maximum range of 3,000 NM (5,560 km).

Executive Aviation was also a standout performer this year, with revenues surging 25% to $2.21 billion and built on the success of the Phenom and Praetor aircraft series. Defense revenue also increased this year, fueled by international orders for the KC-390 military transport aircraft, including Sweden placing an order for four KC-390s with nine options and Portugal signing additional aircraft as well. All together, 2025 was a record-breaking year for Embraer as the Brazilian manufacturer looks to continue its success into 2026.

8

Rostec United Aircraft Corporation

$5-6 Billion

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Russia’s United Aircraft Corporation (UAC) occupies a difficult position to compare with Western aircraft manufacturers because its operations are closely tied to the country’s state-controlled defense industry. UAC oversees major Russian aviation brands, including Sukhoi, MiG, Tupolev, Ilyushin, and Irkut, making it responsible for most of Russia’s modern military and civilian aircraft production. Its parent conglomerate, Rostec, reported roughly $60 billion in consolidated revenue for 2025, though that figure includes much of Russia’s broader defense sector beyond aerospace.

Independent estimates place UAC’s standalone aircraft-related revenues at approximately $5-6 billion annually, although exact figures are difficult to verify due to limited financial transparency following Western sanctions imposed in response to Russia’s 2022 invasion of Ukraine. The company continues producing Su-35 and Su-57 fighter jets for Russian forces while also expanding domestic civilian aircraft production. In December 2025, Russia certified an all-Russian version of the Tupolev Tu-214 passenger aircraft and is already operating the Yakovlev MC-21 narrowbody airliner as part of broader efforts to reduce reliance on Western aerospace suppliers.