Boeing’s Annual Revenue, Annual Profit, and Annual Spending in Research & Development Annual Revenue from 2011 to 2023 Boeing's revenue history between 2011 and 2023 presents critical fluctuations influenced by market conditions and operational challenges. In 2023, Boeing posted revenues of $77.794 billion, up 16.79% from $66.608 billion in 2022, which had increased 6.94% from $62.286 billion in 2021. The company posted a decline in revenue in 2020, recording $58.158 billion compared to $76.559 billion in 2019. Its highest recent year revenue was $101.127 billion in 2018, marking its pre-pandemic peak. Historical data exhibits steady growth from 2011 at $68.735 billion to 2015 at $96.114 billion, then a slight decrease in 2016 to $93.496 billion. The trends depict how well Boeing has been able to bounce back after experiencing global disruptions and changes within the market. On September 30, 2024, for the quarter ending, Boeing reported $17.840 billion in revenue, a 1.46% year-over-year decrease; with trailing twelve-month revenue of $73.293 billion, revenue is down 3.25% in the last year. Annual Profit and Annual Expenses in Research and Development from 2011 to 2023 Boeing's financial performance between 2011 and 2023 demonstrates a dynamic relationship between its net earnings and R&D expenditures. The company has always been profitable from 2011 to 2018, with net earnings peaking at $10.460 billion in 2018. During this period, R&D spending remained almost stable, averaging around $3.3 billion annually. However, since 2019 onwards, Boeing has been going through very rough times due to the 737 MAX grounding and COVID-19. This is evident by the net loss carried in the following years. Despite the financial losses, the company has maintained a huge investment in R&D, with expenditures ranging from $2.249 billion in 2021 to $3.377 billion in 2023. It explains that Boeing has kept emphasis on innovation and long-term competitiveness despite financial adversity. While the profitability of Boeing was affected by exogenous factors, as well as some operational difficulties, its commitment to R&D has been a constant priority fact that reveals a strategic focus of this company on technological advancement and market leadership. Works Cited Macrotrends. (n.d.). Boeing revenue 2010-2023: BA. Retrieved November 14, 2024, from https://www.macrotrends.net/stocks/charts/BA/boeing/revenue Statista. (n.d.). Expenditures on research and development by Boeing from 2002 to 2022 (in million U.S. dollars). Retrieved November 14, 2024, from https://www.statista.com/statistics/268991/expenditures-on-research-and-development-by-boein g/ Statista. (n.d.). Annual results of the Boeing Company from 2000 to 2022 (in billion U.S. dollars). Retrieved November 15, 2024, from https://www.statista.com/statistics/268990/annual-results-of-the-boeing-company/
