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This chart shows Boeing’s Backlog Orders by Segment, split across Commercial Airplanes, Defense, Space and Security and Global Services segments.
The Boeing Company is a leading aerospace company around the globe. It is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles around the globe. In addition, the organization offers leasing and product support Services.
Boeing’s Backlog Orders by Segment
Boeing’s Backlog Orders were from the following segments:
The following table sheds more light on each of the segment backlog orders.
|Segments||Q1 2020||Q1 2021||Backlog Share in Q1 2021|
|Defense, Space & Security||$63.58||$61.27||16.84%|
|Unallocated items, eliminations, and other||–||$0.35||0.10%|
(All figures in billions, except percentages)
The overall backlog orders at Boeing represent the expected transaction prices on performance obligations to customers for which work remains accomplished. Backlog orders are converted into revenue in future periods as work gets completed, generally based on the cost incurred, or at product delivery and acceptance, depending on the accounting system used. Backlog orders exclude options and Boeing Capital orders.
Boeing’s total backlog orders have declined from $486.84 billion in Q1 2019 to $363.85 billion in Q1 2021. The reasons behind this decline are two fatal MAX 737 accidents in the United States, the Federal Aviation Administration issued an order on March 13, 2019, to suspend 737 MAX aircraft operations in the U.S. and the COVID-19 pandemic, which brought the travel and tourist industries to a halt around the world and prompted airline firms to reduce capital investments.
Boeing Commercial Airplanes is a Boeing Company division. It designs, manufactures, promotes, and sells jet airliners and business jets, as well as provides product-related maintenance and training to customers all over the world.
Boeing Commercial Airplanes backlog orders declined from $351.78 billion as of Q1 2020, to $282.62 billion on Q1 2021. But there is a slight increase from $281.59 billion in Q4 2020, reflecting new orders of deliveries as tourism getting back to normal. This segment contributed to 77.68% of the total backlog orders in Q1 2021.
Defense, Space, and Security
Boeing’s defense, space, and security division is the world’s largest manufacturer of military aircraft and satellites, as well as a significant NASA service supplier. This segment provided large-scale system integration, networking technology, aircraft and weapons systems, surveillance and engagement, strategic defense and intelligence systems, satellite systems, and space exploration.
This segment’s backlog orders declined 3.6% from $63.58 in Q1 2020 to $61.27 in Q1 2021 and accounted for 16.84% of total backlog orders in Q1 2021.
This segment serves Boeing’s commercial and defense customers all over the world. BGS provides a full range of products and services to support aerospace platforms and systems, including supply chain and logistics management, engineering, maintenance and modifications, upgrades and conversions, spare parts, pilot and maintenance training systems and services, technical and maintenance documents, and data analytics and digital services.
Global services backlog orders decreased from $22.75 billion in Q1 2020 to $19.61 billion as of Q1 2021. This decline occurred due to flights and aircraft retirements. It has a direct impact on Boeing’s commercial supply chain business, resulting in a drop in demand for parts and logistics services. Furthermore, the Company’s commercial customers are reducing discretionary spendings, such as modifications and upgrades, and focusing on essential maintenance. This segment contributed to 77.68% of the total backlog orders in Q1 2021.
Unallocated items, eliminations, and others
Unallocated items, eliminations, and others include common internal services that support Boeing’s global business operations, intercompany guarantees offered to BCC, and eliminations of some sales between segments. The backlog orders for this segment increased from $0.33 billion in Q4 2020 to $0.35 billion in Q1 2021 and accounted for 0.10% of total backlog orders in Q1 2021.
The Boeing Company was founded by William Boeing in Seattle, Washington on July 15, 1916. Boeing and McDonnell Douglas merged on August 1, 1997, resulting in the present corporation. The Boeing Company is based in Chicago, Illinois, in the United States. The company has more than 140,000 employees across 65 countries.
Commercial Airplanes, Defense, Space & Security, Global Services, and Boeing Capital are the four primary segments of Boeing’s business. Commercial and military aircraft, satellites, missiles, electronic and defensive systems, launch systems, sophisticated information and communication systems, and performance-based logistics and training are among the company’s many goods and services.
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